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Ali expects US$10 billion in annual inflows to Guyana oil fund by 2030

OilNOW -
Guyana’s President Dr. Mohamed Irfaan Ali said the government projects revenues from oil will amount to US$10 billion annually by the end of the decade.  “Our Natural Resource Fund is growing and we are looking to the modernisation of our...
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Over 1,000 job seekers flock to Career Fair for Guyana’s largest shore base; some hired on the spot

OilNOW -
Over 1,000 eager Guyanese turned out to the Guyana Shore Base Inc. (GYSBI) Career Fair at the West Demerara Secondary School on July 9, with the company managing to hire several on the spot.  Vacant positions ranged from Excavator Operators,...
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Guyana’s ‘highly competitive, low carbon oil’ will catapult country to world’s 4th largest offshore producer by 2035

OilNOW -
Ahead of veterans like Norway and Mexico, Guyana is projected to become the world’s fourth-largest oil producer by 2035, according to a new United Nations Economic Commission for Latin America and the Caribbean (ECLAC) report.  “The dynamic performance of the...
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Guyana mega oil project pushes country to third place for highest value foreign investment in 2022 – new report

OilNOW -
Guyana trailed behind only Mexico and Brazil, holding the third slot as the country with the highest total value of foreign direct investment (FDI) project announcements for 2022 in Latin America and the Caribbean.  Outlined in the new United Nations...
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Historic dismantling of FPSO in Brazil marks dawn of a new era for South America’s biggest oil producer 

OilNOW -
Brazil’s state-owned oil entity Petrobras is building out its green recycling market with the sale of the first floating production, storage and offloading (FPSO) vessel closed on July 7. Now, the company will spend US$9.8 billion to retire at...
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101 major subsea assets installed in Guyana waters by Edison Chouest C-INSTALLER vessel

OilNOW -
Edison Chouest’s (ECO) C-INSTALLER - a 318 ft. multipurpose support vessel has operated in Guyana for the past five years and has been integral to the country’s offshore oil operations.  ECO shared that the C-INSTALLER positioned 101 major subsea assets...
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Guyana oil exports to generate US$11.3 billion in 2023

Kemol King -
The Guyana government expects crude oil exports this year to generate US$11.3326 billion in 2023, a 14% increase from the 2022 figure, according to budget documents.  These revenues are expected from oil production at the ExxonMobil-operated Stabroek Block, from the...
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Wellesley makes Norway’s largest discovery in a decade

OilNOW -
In a major breakthrough for the Norwegian oil and gas industry, Wellesley Petroleum AS has made the largest discovery on the Norwegian Continental Shelf in a decade. Its partner, DNO ASA, announced the significant gas and condensate discovery on...
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TT, Suriname to produce feasibility studies on future development of hydrocarbon resources

OilNOW -
Trinidad and Tobago and Suriname have laid the foundation for energy cooperation with a new Memorandum of Understanding (MoU) signed on July 6.  TT’s Prime Minister Dr. Keith Rowley and Surinamese President Chandrikapersad (Chan) Santokhi witnessed the signing by Trinidad’s...
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Team Infinity Tech emerges winner in SBM Offshore Guyana-sponsored Innovation Challenge 2023

OilNOW -
The Office of the Prime Minister's Industry and Innovation Unit's Innovation Challenge 2023 reached its exciting conclusion on Sunday at the Arthur Chung Conference Centre. The event, sponsored exclusively by SBM Offshore Guyana, showcased the innovative talents of local...
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Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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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