News

News

Multiple new discoveries made in Guyana, but Hess says no update yet on new resource estimate

Shikema Dey -
Chief Executive Officer (CEO) of Hess Corporation, John Hess was asked by Doug Leggate from Bank of America on Wednesday when an update to the reserve estimate can be expected for the Stabroek Block. Hess has a 30% stake...
News

Guyanese company to build wharf at Land of Canaan, near Baker Hughes’ Supercenter

OilNOW -
JOP Property Holdings Inc., a Guyanese company, is set to construct a wharf at Land of Canaan, near Baker Hughes' Supercenter. With a capital investment of US$25 million, the facility will add to the growing industrial and commercial development...
News

Guyana moves oil blocks bid submission deadline to September 12, 2023

OilNOW -
The Ministry of Natural Resources has extended the deadline for bid submissions in the Guyana 2022 Offshore Licensing Round to September 12, 2023.  The government is working to pass into law, its Petroleum Activities Bill 2023, which will establish a...
News

Guyana oil barrels help Hess offset low prices as profits settle at US$119M

OilNOW -
American oil producer, Hess Corporation reported on Wednesday that it made a net income of US$119 million, or US$0.39 per share, in the second quarter of 2023. This represents a significant dip in revenues when compared with net income...
News

Hess’ carbon credits deal with Guyana outweighs its 2022 global emissions almost 10 times

OilNOW -
Hess Corporation's decision to buy carbon credits from Guyana will result in an emissions ‘offset’ that is nearly 10 times the company’s total global emissions in 2022. The New York-based global independent energy company has partnered with the government...
News

Guyana gov’t says myriad benefits expected from US$190M Linden-Mabura road project

OilNOW -
Guyana’s Ministry of Natural Resources has reaffirmed its commitment to the US$190 million Linden to Mabura Road project. This ambitious initiative is part of the broader Georgetown to Lethem corridor development, aimed at improving trade and ground transportation between...
News

Guyana seeks Independent Administrator for its next EITI report

OilNOW -
The Guyana government is actively seeking an independent administrator for the preparation of its fifth Extractive Industries Transparency Initiative (EITI) report. The anticipated report will cover the fiscal year of 2021 and is due for publication in December 2023. This...
News

Global oil demand to remain above 90 million b/d as Guyana production soars

OilNOW -
For decades, the need for oil has continued to grow, fueled by an increasing global population and the pursuit of economic growth. Despite the push towards a less carbon-intensive economy, society's insatiable appetite for personal mobility, consumer goods, and...
News

Nigeria Petroleum Authority introduces new regulations to boost safety, environmental practices in oil industry

OilNOW -
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced the introduction of four new regulations aimed at governing the activities of the midstream and downstream sectors of the country’s petroleum industry. The new regulations were introduced in line...
News

Guyana expects over 700 technical, skilled oil and gas hires this year – Local Content Secretariat

OilNOW -
According to figures released by Guyana’s Local Content Secretariat (LCS), for 2023, over 700 hires are expected for the country’s oil and gas sector. The hires range from the technical and skilled categories to Information Technology (IT) and Health.  A...
1...222223224...997Page 223 of 997

Latest News

NewsOilNOW -

Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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