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Steady output at Liza projects in June delivered highest daily volumes yet

Kemol King -
The Stabroek Block’s Liza projects delivered steady volumes at peak levels in June 2023, resulting in the highest daily volumes yet.  Liza Phase 1 delivered 154,790 barrels per day (bpd), totaling 4.3 million barrels over the full month. Liza Phase...
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In three short years, Guyana transformed legislative, regulative framework for oil industry – VP Jagdeo

OilNOW -
As the Guyana Government marked its third year in office on August 2, 2023, it reveled in the progress made thus far in overhauling the legislative and regulatory architecture of the oil industry. Dr. Bharrat Jagdeo, the country’s Vice...
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Block 58: Krabdagu-3 appraisal well confirms extension of oil resource 14 km from initial discovery offshore Suriname

OilNOW -
Suriname is one significant step closer to its highly anticipated offshore oil development as APA Corporation reported that Krabdagu-3 appraisal well in Block 58 confirmed an extension of oil resources, some 14 kilometres from the original prospect.   APA holds a...
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Current oil price forces Biden to push back purchase of six million barrels for emergency reserve

OilNOW -
In response to soaring oil prices that have rallied above US$80 a barrel, the Joe Biden administration is once again postponing the replenishment of the nation's emergency oil reserve. The decision comes as the Department of Energy (DOE) is...
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Oil minister tables historic petroleum bill in Guyana Parliament 

OilNOW -
Guyana’s Minister of Natural Resources, Vickram Bharrat, has tabled the Petroleum Activities Bill 2023 in the country's Parliament. The Bill was initially published for consultation with stakeholders and has now been revised by the government to incorporate acceptable comments. In...
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Guyana establishes world dominance in discovered volumes for 2023, surpasses 600 million boe – Rystad Energy

OilNOW -
Guyana's Stabroek Block has proven to be a game-changer in the global energy landscape, propelling the South American nation to the forefront of discovered volumes. According to a new Rystad Energy report, Guyana has surpassed all other contenders, recording...
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Colombia’s fiscal reforms can push investors to Guyana basin – WoodMac

OilNOW -
A recent analysis by energy consultancy firm Wood Mackenzie indicates that the oil sectors of the burgeoning Guyana-Suriname basin could reap benefits from fiscal reforms introduced by Colombia's newly elected President, Gustavo Petro. The Colombian president has launched an ambitious...
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Ghana Chamber of Commerce to lead Local Content Conference in Georgetown

OilNOW -
The Ghana Chamber of Commerce is gearing up to spearhead a pioneering two-day Ghana - Guyana Local Content Conference, scheduled to take place in Georgetown, Guyana, at the Marriott Hotel on Thursday, August 10. This event, a collaboration between the...
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UK-Guyana trade surges to £1.6 billion, signaling growing economic ties

OilNOW -
Total trade in goods and services between the United Kingdom and Guyana has reached an impressive £1.6 billion in the four quarters leading up to the end of Q2 2023, a new report from its Department of Business and...
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Bp reports drop in Q2 net profit as energy prices retreat from post-invasion peaks

OilNOW -
British energy giant bp announced a significant drop in second-quarter net profit as oil and gas prices retreated from the historic highs reached a year earlier following Russia's invasion of Ukraine. The company reported that profit after tax plummeted...
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Exxon gives back portion of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to 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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