News

News

Petrobras begins divestment of Tartaruga shallow water field

OilNOW -
Petrobras has launched the divestment process for its 25% minority stake in the Tartaruga field, located in shallow waters off Pirambu, Sergipe, in the Sergipe-Alagoas Basin. The field is operated by SPE Tiêta, a subsidiary of Petrorecôncavo, which holds...
News

Second phase of Berbice training facility progressing with extended timeline

OilNOW -
The construction of the oil and gas training facilities at the Guyana Technical Training College (GTTCI) in Port Mourant, Berbice, is progressing steadily, with the completion date now set for October 2026.  President Irfaan Ali announced the updated timeline on...
News

Exxon not backing out of Block S8 talks – Jagdeo 

OilNOW -
ExxonMobil, Hess and CNOOC are not backing out of talks with the Guyana government for a shallow water block they were awarded after the country’s first offshore auction. Guyana's Vice President, Bharrat Jagdeo, said during a Thursday press conference that...
News

Manatee project advances with local fabrication milestone in Trinidad

OilNOW -
Shell, McDermott, and Trinidad Offshore Fabricators Unlimited (TOFCO) hosted a ceremonial steel-cutting simulation this week at the TOFCO Yard, La Brea Industrial Estate. The event marked the start of local fabrication for the Manatee Project’s platform jacket, the largest...
News

US$500M+ United States loan for Guyana gas project clears key hurdle

Kemol King -
Guyana's Vice President, Bharrat Jagdeo, announced during a November 28 press conference that the United States Export-Import Bank (EXIM Bank) has given preliminary approval for a loan exceeding US$500 million to support Guyana's Gas-to-Energy project. Initially, the government applied...
News

Eco Atlantic remains upbeat about stake in South America’s mega hotspot   

OilNOW -
Eco (Atlantic) Oil & Gas Ltd. has reaffirmed its focus on Guyana, a key area for hydrocarbon exploration, where ExxonMobil has found more than 11 billion barrels of oil equivalent resources since 2015. In its unaudited results for the...
News

U.S.  producing more oil now than at anytime in history

OilNOW -
The U.S. holds firm on its position as the world’s top producer of oil.  New data from the U.S. Energy Information Administration (EIA) Petroleum Supply Monthly shows that the country produced 13.4 million barrels of oil per day (MMb/d) in...
News

Petrobras to bring 10 new offshore production systems online by 2029

OilNOW -
Petrobras plans to deploy 10 new offshore production systems by 2029, focusing on efficiency and lower emissions. The company in a recent report said nine systems are already contracted, with five additional projects in progress and six under study. Petrobras...
News

Trinidad commences 12-18 months of wind power assessment

OilNOW -
Trinidad and Tobago's Ministry of Energy and Energy Industries (MEEI) has announced the successful deployment of Light Detection and Ranging devices (LiDARs) at Orange Valley and Galeota. These devices will collect wind data to international standards over a 12–18-month...
News

Fiscal terms in Guyana, Namibia, Angola ‘striking the right balance’ – WoodMac

OilNOW -
Global provider of data and analytics, Wood Mackenzie, said host governments, such as those in Guyana, Namibia, and Angola, have structured their petroleum fiscal regimes to strike the right balance between incentivizing investment and reflecting the risks faced by...
123...940Page 1 of 940

Latest News

Guyana's Oil LedgerKemol King -

Guyana oil production averaged 608,000 b/d in first 10 months of 2024

Crude oil production at the ExxonMobil-operated Stabroek Block averaged 608,000 barrels per day (b/d) in the first 10 months...

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.

Quick Access

Company Info

Social Networks