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By 2030, electric vehicles will avoid demand for 5 million barrels of oil per day, or more

OilNOW -
The electric vehicle market is set to continue its growth, with sales projected to reach 14 million this year alone, up from 10 million in 2022. This growth is part of a historic transformation of the auto industry, with...
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Guyana considers export of excess cooking gas to Caribbean, Northern Brazil

OilNOW -
Guyana's Vice President Dr. Bharrat Jagdeo said the demand for excess gas from the country's mega Gas-to-Energy initiative is secure for the 20-year life of the project, as the government has received several expressions of interest. With key preparatory...
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Stena DrillMax deployed for development drilling at Yellowtail site 

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The MODU Stena DrillMax will be used to continue development drilling activities at ExxonMobil Guyana’s Yellowtail well site in the offshore Stabroek Block.  An April 27 Notice to Mariners by the Maritime Administration Department (MARAD) said the exercise will conclude...
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All roads lead to Fangtooth as next Stabroek Block development

Shikema Dey -
The Fangtooth reservoir is shaping up nicely to become ExxonMobil’s 7th Stabroek Block development.  This fact is supported by its latest discovery - Lancetfish-1, according to Greg Hill, Chief Operations Officer (COO) at Hess Corporation. Hess holds a 30% stake...
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Ex-PDVSA VP with close links to El Assami charged in $$b oil scandal

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Ysmel Serrano, ex-Vice President of Venezuela’s state-run PDVSA is the latest top-ranking official to be slapped with charges as investigations progress into the billion-dollar oil scandal. He served in the post and acted as trade chief between 2017 and...
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Liza Unity to produce 250,000 bpd by year-end – Hess COO

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Guyana’s Liza Phase 2 Project and its accompanying Liza Unity production vessel are expected to undergo a series of maintenance and debottlenecking activities that will push production from 220,000 barrels of oil per day (bopd) to 250,000 bopd by...
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OPEC, IEA trade words as oil price jumps again

Shikema Dey -
Oil price jumps have led to a recent public spat between the International Energy Agency (IEA) and oil group Organisation of Petroleum Exporting Countries (OPEC).  OPEC lashed out at IEA after its Executive Director Fatih Birol in a Bloomberg interview...
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Guyana issues Uaru production license; Hess follows Exxon with FID

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Guyana’s Ministry of Natural Resources (MNR) announced approval of the Uaru Field Development Plan and the issuance of the Uaru Petroleum Production License, on April 28.  Hess Corporation, a 30% stakeholder in the project, said it made a final investment...
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Exxon nets highest Q1 earnings in history – Woods

OilNOW -
ExxonMobil Corporation announced first-quarter 2023 earnings of US$11.4 billion, or US$2.79 per share assuming dilution - a drop from US$12.8 billion in the last quarter. The result aligned with its Securities and Exchange Commission (SEC) 8-K filings, triggered by...
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Clear line of sight for Stabroek Block to hit 1.3 million bpd by 2027

OilNOW -
With regulatory approvals granted for Exxon’s fifth Guyana development - Uaru, next up on the list is number six - Whiptail.   This development is expected to tap Exxon’s Whiptail, Pinktail and Tilapia discoveries, taking production offshore the South American country...
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Jagdeo says LNG remains a priority as Guyana moves to monetize its gas resources

Guyana’s Vice President Bharrat Jagdeo has reaffirmed that liquefied natural gas (LNG) remains a key option in Guyana’s plan...

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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