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Four of out 13 blocks get bids in T&T’s shallow water auction 

OilNOW -
Trinidad’s Shallow Water Competitive Bidding Round 2023/2024 closed around noon on May 27 with only four out of 13 blocks receiving bids. The 13 blocks collectively hold an estimated unrisked resource of approximately 13.4 trillion cubic feet of gas. Trinidad’s Energy...
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Hess shareholders greenlight Chevron merger

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Hess Corporation’s shareholders have approved the company’s merger with Chevron Corporation, according to Hess. At the May 28 special meeting of Hess stockholders, a majority of the outstanding shares of Hess common stock voted in favor of the adoption of...
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Authorities re-emphasizing safety as  worker seriously injured at Vreed-en-Hoop Shore Base

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An employee of Saipem was “seriously injured” in a May 25 accident at the Vreed-en-Hoop Shore Base Inc. (VEHSI) facility, Guyana’s Ministry of Labour said in a May 27 release. Collis Hall, an operator, was using a 400-tonne Manitowoc Walk...
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S&P ranks Guyana top upstream investment destination among Atlantic Margin basins

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S&P Global analysts have placed Guyana at the top of a list of 10 Atlantic Margin basins, in its assessment of which countries offer a conducive investment environment for long-term upstream projects.  The firm noted that recent discoveries by international...
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As Guyana, Suriname gas reserves mount, standalone development is on the horizon

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Guyana and Suriname have had substantial natural gas reserves discovered in the basin, altogether estimated at a whopping 29.5 trillion cubic feet. According to ExxonMobil, the operator of the Stabroek Block offshore Guyana, of the 11 billion oil-equivalent barrels...
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Equinor to invest US$1.1 billion to boost gas output at Norway’s Troll field

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Equinor plans to invest more NOK 12 billion (approximately US$1.1 billion) to develop gas infrastructure in the Troll West gas province, in the Norwegian North Sea, it said in a May 24 release.  The plan is to accelerate production from...
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Namibia has potential to match Guyana’s oil success – Africa Energy Chamber head

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Namibia has the potential to replicate Guyana's success in the oil sector, said NJ Ayuk, Chairman of the African Energy Chamber.  In a recent conversation with Petroleum Economist’s editor-in-chief, Paul Hickin, Ayuk praised both countries for their rich geological resources...
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Trinidad yet to find owners of tug involved in Tobago spill

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Authorities in Trinidad and Tobago are still trying to ascertain the owner(s) of the ‘Solo Creed’ - tug involved in the Feb. 7 Tobago oil spill.  In a May 23 release, the Ministry of Energy and Energy Industries said the...
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Meet the woman set to take over Brazil’s Petrobras: Magda Chambriard

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Petrobras announced that its Board of Directors has appointed Magda Chambriard as a Board member and elected her as the company's new Chief Executive Officer (CEO). Chambriard took office immediately, joining the Board without the need for a Shareholders'...
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If Exxon won’t, others will – Jagdeo on developing Guyana’s gas fields

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If ExxonMobil opts not to move ahead with gas development, in line with the Guyana government’s wishes, the prospects will be reallocated, said Vice President Bharrat Jagdeo.  During a May 24 press conference, Jagdeo said work is being done to...
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MODEC: Eight Guyanese trainees head to Singapore for second phase of development program

Eight Guyanese nationals have completed the first phase of MODEC Guyana’s 20-month Onshore Trainee Program and are set to...

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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