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Guyana oil generating over US$1.5 billion a month – Exxon official 

OilNOW -
Oil production offshore Guyana is generating over US$1.5 billion a month, ExxonMobil Guyana Vice President, Philip Rietema said.  “Today, we’re producing over 600,000 barrels a day and oil produced is revenue produced, is revenue to be shared among the people...
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As Global oil demand set to slow down Guyana aims to forge ahead with rapid production expansion

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A recent International Energy Agency (IEA) report revealed that global oil demand is set to decelerate as the energy transition gains momentum. However, Guyana’s oil and gas sector will continue its rapid expansion. Last year, President Irfaan Ali emphasized...
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Procurement advances for Linden solar project in Guyana – Ali 

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The procurement process for the Linden utility-scale solar project in Guyana is advancing, President Irfaan Ali announced at a press conference on June 20. This development is part of a broader US$83.3 million initiative under the Guyana Utility-Scale Photovoltaic Programme...
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Exxon-led group’s 2023 investment equates to more than half of US$6.3 billion Guyana profit

Kemol King -
The Stabroek Block partners’ investments in Guyana’s petroleum sector are paying off with US$6.3 billion (approx. GY$1.3 trillion) in combined profits reported for 2023. Their profits grew 12% from the prior year. This is based on a consolidation of...
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SLB wins contract for pioneering all-electric subsea project in Norway

OilNOW -
SLB has secured a contract from Equinor for the front-end engineering design (FEED) of a 12-well, all-electric Subsea Production Systems (SPS) project in the Fram Sør field, offshore Norway. The project aims to fast-track the global adoption of electric...
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Guyana’s May oil output hits new monthly record 

Kemol King -
Oil production at ExxonMobil’s Guyana projects hit a combined 19.6 million barrels in May, the highest monthly volume yet, government data shows. In May, the Liza 1 project averaged 154,000 barrels per day (b/d), totaling 4.78 million barrels. This project...
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Guyana eyeing first sale of carbon credits to commercial airlines

OilNOW -
Guyana has commenced engagement with commercial airlines to secure a market within the Aviation sector for its certified carbon units. The South American nation historically became the first country to receive CORSIA (carbon offsetting and reduction scheme for international...
Energy Insights

Distilling Guyana’s Oil and Gas Regulatory Framework: Interpreting and Applying section 94 (1) of the Petroleum Activities Act

OilNOW -
By Chevy Devonish On 24th June 2024, Guyana’s High Court ordered that section 94 (1) of the Petroleum Activities Act (PAA) requires that the Minister of Natural Resources (the Minister) and ExxonMobil Guyana Ltd. (ExxonMobil) be added to ongoing proceedings...
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Chevron says new technology revolutionizes offshore development

OilNOW -
Chevron is leveraging new technologies to accelerate offshore energy development, significantly reducing timelines and costs. According to Matt Johnson, a field development and portfolio optimization specialist at Chevron, using field development optimization tools is proving to be a game-changer....
News

“In the face of bullies and tyrants, U.S. will always stand with Guyana” – Ambassador 

OilNOW -
As celebrations rang in for the U.S. 48th independence anniversary, its steadfast support for Guyana was reaffirmed by Ambassador Nicole D. Theriot.  “In the face of bullies and tyrants, the United States will always stand with Guyana,” she said. “We...
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Look beyond the barrels for the success of Guyana’s oil industry – Ali 

President Irfaan Ali has urged Guyanese to measure the success of the oil industry by more than just the...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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