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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

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

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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

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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

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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

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

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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...
Exploration

OSV Horn Island vessel leading deepwater development at Liza Field

OilNOW -
The OSV Horn Island vessel will be continuing deepwater development at Guyana’s Liza Field located in the offshore Stabroek Block.  A recent notice by the Maritime Administration Department (MARAD) outlined that activities will conclude at the site on December 31.  The...
News

With a population roughly that of Nottingham, Guyana on the verge of producing more oil per person than anywhere else in the world –...

OilNOW -
Based on current output across the region, Guyana is expected to become the second-largest oil producer in South America after Brazil, with its oil production projected to reach 1.2 million barrels per day (bpd) by 2027. When it reaches...
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Ali names 25-member cabinet; Vickram Bharrat back at oil ministry

President Irfaan Ali of Guyana unveiled 25 ministerial Cabinet appointees on Saturday evening, as the government embarks on its...

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