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Guyana grants environmental permit for Exxon’s fifth deep water project Uaru

OilNOW -
Guyana's Environmental Protection Agency (EPA) moments ago approved ExxonMobil's fifth Stabroek Block development, Uaru. This will take production above one million barrels per day. The new permit has these key updates as noted in the EPA's release: Flaring Like its predecessors,...
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Auction extension gives Guyana time to strengthen cybersecurity

OilNOW -
Guyana’s extension to its maiden licensing round presents a window of opportunity for its cyber security to be strengthened.  This is according to Riyad Insanally, former Ambassador of Guyana to the United States.  His comments, captured in the recent edition of...
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Hess nets $1.13 per share in Q1, 2023

OilNOW -
American oil producer Hess Corporation disclosed on April 26 that it earned net income of US$346 million, or US$1.13 per share, in the first quarter of 2023, compared with net income of US$417 million, or US$1.34 per share, in...
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Shareholders want bp CEO gone after rollback of oil and gas production cut

OilNOW -
bp’s decision to produce oil and gas for longer than it intended has sparked concerns from shareholders who are set to put a vote against the Chief Executive Officer (CEO) Benard Looney.  According to Reuters, one investment advisory firm PIRC...
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250,000 bpd Uaru project expected to be approved this week – Hess Boss

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The Government of Guyana is expected to provide approval this week for Uaru, the fifth project in the Stabroek Block, says Hess Corporation’s Chief Executive Officer (CEO), John Hess.  During his company’s 2023 first quarter earnings call on Wednesday, Hess...
Discoveries

Exxon strikes oil at Lancetfish-1 well

OilNOW -
Hess Corporation on Wednesday announced a new oil discovery at the Lancetfish-1 well on the Stabroek Block, offshore Guyana. The Lancetfish-1 well encountered approximately 92 feet of oil-bearing sandstone reservoir. The well was drilled in 5,843 feet of water by...
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Ramps says it aims to bolster Guyana’s growth, after cleared of fraud charges

OilNOW -
Ramps Logistics Guyana Inc. (RLG) has been cleared by the Guyana Magistrates’ Court on all charges of fraud, the company said in a release. The matter was brought before the court by the Guyana Revenue Authority (GRA) in October,...
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Well tests begin at TT’s Ortoire block

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Trinidad’s Touchstone Exploration Inc. said on April 24 that it confirmed the presence of light crude oil at non-commercial rates during the first Royston-1X well production test in the onshore Ortoire block.  Touchstone said in its announcement that five potential...
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Attracting top offshore players like Chevron key to success Guyana bid round

Shikema Dey -
Chevron has its eyes set on Guyana, as the country’s first licensing round heats up. Norway-based Rystad Energy believes the oil major possesses the wherewithal to bring competition to the ExxonMobil-dominated basin.  Schreiner Parker, Senior Vice President and head of...
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Latin America delivered 40% more revenue for Halliburton in Q1 2023 

OilNOW -
Halliburton said its Latin America revenue in the first quarter of 2023 was US$915 million, an increase of 40% year over the previous year, due primarily to increased well construction services and stimulation activity in Mexico and Argentina, higher...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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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