News

News

CNOOC awards scholarships to four Guyanese students

OilNOW -
CNOOC Petroleum Guyana Limited (CPGL) has awarded scholarships to four students from Guyana to pursue studies in Petroleum Sciences in China for the academic year 2023-2024. These four promising scholars—Nechemiyah Levans, Aria Matthews, Ishika Singh, and Nazeela Williams—are the...
News

New Guyanese consortium acquires stake in Newrest Guyana

OilNOW -
Guyanese Achieving Together Enterprises (GATE), a consortium of local catering and food service operators, has purchased a substantial equity stake in Newrest Guyana, the country's premier offshore caterer and food supplier to the oil and gas sector. This acquisition comes...
News

Guyana now classified as high-income country by World Bank as oil projects quintuple

OilNOW -
The World Bank has announced the elevation of Guyana's status to a high-income country, a milestone in the South American nation's economic journey. This update comes along with several other countries having their statuses adjusted in the latest annual...
News

Tiny Guyana ahead of the pack in region plagued with stranded assets

OilNOW -
Stranded assets, a prevalent concern in regions heavily dependent on fossil fuels, are essentially investments that may never yield returns due to shifts in the market, typically driven by environmental considerations and the burgeoning clean energy revolution. While many...
News

Brazil raked in US$12.9 billion in signing bonuses for 15 pre-salt blocks – Report 

OilNOW -
Brazil was able to cop a total of US$12.882 billion in signing bonuses from 15 block awards in its pre-salt area since the state-owned Petrobras made the first discovery back in 2006. This is according to the recent Economic...
News

Woodside Energy abandons Trinidad block

OilNOW -
Australian-based Woodside Energy Group has handed back a deepwater block to the government of Trinidad and Tobago, following an appraisal that deemed its development financially unsound, according to a company representative on Wednesday. Reuters broke the story of the...
News

Exxon set to buy out largest carbon capture and storage company in U.S in $4.9 billion all-stock deal

OilNOW -
ExxonMobil Corporation announced that it has reached a definitive agreement to acquire Denbury Inc., a renowned developer of carbon capture and storage (CCS) solutions and enhanced oil recovery. The all-stock transaction is valued at US$4.9 billion.  The acquisition aligns with...
News

African Chamber says Stabilization Clause in Stabroek PSA delivering major benefits, wants Namibia to follow suit

Shikema Dey -
Having significant hydrocarbon reserves certainly will get energy companies’ attention, but holding the companies’ interest — and convincing them to continue investing billions of dollars in exploration and production activities — requires deliberate, strategic measures on the part of...
News

Suriname’s Staatsolie exploring higher upstream funding for incoming offshore development

OilNOW -
To develop Suriname’s offshore oil potential, a higher level of financing is required and its state-owned company Staatsolie is readying itself to ensure it is prepared. Outlined in its updated 2022 Annual Report, Staatsolie said it has amended and extended...
News

Uptick in local small- to medium-scale logistics, transportation businesses seen in second year of Local Content law

OilNOW -
Guyana’s Local Content Act - implemented in 2021 - has enabled significant investment in small and medium-scale logistics and transportation enterprises to service the expanding oil sector.  During a virtual discussion on investment opportunities in Guyana and Ghana, Senior Petroleum...
1...247248249...1,017Page 248 of 1,017

Latest News

NewsOilNOW -

Guyanese-American welder returns home to train 500+ Guyanese for oil and gas jobs 

For Mohamed Ally, welding is more than sparks and steel; it is legacy work. After more than four decades...

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