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Oil production begins at Exxon’s 3rd Guyana project pushing output to 620,000 bpd

OilNOW -
ExxonMobil announced on Tuesday that it has started producing oil at the massive Payara Development Project offshore Guyana, bringing total production capacity to approximately 620,000 barrels per day (bpd). The Prosperity floating, production, storage and offloading (FPSO) vessel is expected...
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Guyana is key contributor to 100-million-barrel liquids production forecast

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Specialist market research and consultancy firm Westwood Global Energy Group says liquids production (crude, condensate and NGLs) is forecast at 100mmbpd by 2030, up 8% on 2022. This will be driven by increased crude production from deepwater areas, such...
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Guyana wants Exxon to move faster on monetizing gas assets

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Vice President of Guyana, Dr. Bharrat Jagdeo said during a recent media conference that the government wants ExxonMobil to move faster on the matter of developing the country’s growing gas assets. “We are not pleased with the pace at which...
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CGX further delays completion of Berbice support base

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CGX Energy has once again delayed the completion of its ‘Berbice Deepwater Port’, with the latest update projecting the completion of its oil and gas support functionalities to early 2025.  In the company's 2023 third quarter report, CGX said a...
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Frontera bounces back from last Q3 loss, with US$32.6 million net income

OilNOW -
Frontera Energy Corporation has made a turnaround, reporting net income of US$32.6 million, or US$0.38 per share, in the third quarter of 2023. This performance marks a recovery from the net loss of US$26.9 million, or US$0.30 per share,...
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Payara Development Fact Sheet 

OilNOW -
The approval of Guyana’s third Stabroek Block development - Payara - in 2020 was a significant step forward, with one research and intelligence firm calling it one of the brightest lights in oil’s dark year. It came at a...
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Guyanese analyst launches podcast on Essequibo controversy

OilNOW -
Sara Bharrat, a governance and political analyst, recently launched "Border Watch Guyana," a podcast about the Guyana-Venezuela border controversy. This initiative is aimed at educating citizens, regional neighbors, and the international community about the escalating controversy from a Guyanese...
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Van Oord contracted for wind projects in Baltic Sea and Taiwan, valued over €500 million

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Van Oord has secured contracts for two major offshore wind projects: Baltic Power in the Baltic Sea and Greater Changhua 2b and 4 in Taiwan, with a combined value exceeding €500 million. The developments could provide clean energy to...
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European trade mission coming to scout opportunities in Guyana as a regional hub

OilNOW -
The European Union (EU) is setting its sights on Guyana with an economic trade mission slated for November 20-22, 2023. The mission's core agenda is to explore and foster investment opportunities for EU companies in Guyana, showcasing the nation...
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Maduro’s main presidential challenger prefers World Court process to resolve Essequibo controversy

Kemol King -
María Corina Machado, the presidential candidate of Venezuela's main opposition coalition, has urged the government to adhere to the process at the International Court of Justice (ICJ) to resolve the Essequibo territorial controversy with Guyana. Speaking to publication EFE,...
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French firm gets five-year tech support contract from ExxonMobil Guyana

French geophysical technology company Sercel announced on Tuesday that it has been awarded a five-year contract for technical support...

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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