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Guyana selects four contenders for first oil refinery

OilNOW -
Guyana's Vice President, Dr. Bharrat Jagdeo confirmed on Thursday that the administration still has its sights set on establishing a modular oil refinery. In fact, four strong contenders have been shortlisted, the official disclosed. During a press conference, the chief...
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Norway approves US$18.5 billion in projects to sustain European supply amid Russian energy backlash

OilNOW -
Norway's energy ministry has granted approval for oil and gas projects valued at more than 200 billion kroner (US$18.5 billion), as the country aims to maintain its position as Europe's largest natural gas supplier.  The approved projects, including Aker BP...
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Renewables surge but fossil fuels still dominating global energy industry

OilNOW -
Fossil fuels continue to meet more than 80% of the world's energy needs despite a continued record growth rate of renewable energy in the wake of the COVID-19 pandemic, according to data compiled by the UK-based Energy Institute. Global primary...
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Maersk advances green fleet transformation with order for six methanol-powered container vessels

OilNOW -
A.P. Moller - Maersk, a global leader in container shipping, has announced the order of six mid-sized container vessels equipped with dual-fuel engines capable of operating on green methanol. The order was placed with Yangzijiang Shipbuilding Group, and the...
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Wei-1 discovery could be first major commercial find outside Stabroek Block; evaluation results expected in 2-3 months – Ministry

OilNOW -
Guyana's Ministry of Natural Resources said in a statement on Wednesday that further evaluation will determine the potential commercial viability of the Wei-1 discovery in the Corentyne Block. While CGX Energy Incorporated and Frontera Energy Corporation have made significant...
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CGX announces discovery at Wei-1 in second successful campaign offshore Guyana

OilNOW -
CGX Energy Inc. and Frontera Energy Corporation announced on Wednesday an oil discovery at the Wei-1 well, on the Corentyne block, approximately 200 kilometers offshore Guyana. The Joint Venture said it has successfully finished drilling operations without any safety...
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Development drilling at Payara well site ramps up as start-up date nears

OilNOW -
Development drilling activities in the Stabroek Block have increased as operator ExxonMobil Guyana gears up to commission the Prosperity floating production, storage, and offloading (FPSO) vessel.  According to the Maritime Administration Department (MARAD), the PY_1i2 Well Site is located approximately...
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Oil companies that fail to fulfil obligations will face penalties under new Guyana law

OilNOW -
Guyana Vice President Dr. Bharrat Jagdeo recently explained that the government does not want oil companies to sit on blocks for years without executing their work commitments. This has informed proposed changes to the country’s oil law.  Among the mechanisms...
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US$550 million in Middle East, Mediterranean contracts for Saipem

OilNOW -
Saipem has secured two significant offshore drilling contracts worth a combined total of approximately US$550 million. These contracts were awarded in the Middle East and the Mediterranean Sea. In the Middle East, Saipem has obtained a ten-year extension to an...
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OPEC says Guyana has not been invited to join

Shikema Dey -
The Organisation of Petroleum Exporting Countries (OPEC) on June 27 said that it has not invited South America’s newest oil producer - Guyana to become a member, contrary to a Wall Street Journal report.  “In view of recent reports about...
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Hammerhead gas to flow through pipeline as soon as project starts

Gas from ExxonMobil’s newly sanctioned Hammerhead development will begin flowing immediately through Guyana’s Gas-to-Energy (GtE) pipeline once production starts...

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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