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Guyana locks in US$82M in revenue for first oil lift this year

OilNOW -
Guyana’s Natural Resource Fund (NRF) received a payment of US$82 million in February, representing revenue for the first lift of profit oil sold in the new year. The payment is recorded as GY$17,148,857,000 (approximately US$82,248,714). It is the first of...
News

Time for Exxon to address Guyana’s findings in audit of its 2018-2020 costs

OilNOW -
Vice President, Dr. Bharrat Jagdeo has confirmed that the government’s auditors have completed their assessment of ExxonMobil Guyana’s US$7.3 billion investments in the Stabroek Block from 2018 to 2020. The official recently noted that the company has two months to...
News

Brazil halts dumping of Petrobras assets to pursue new energy policy

OilNOW -
Brazil’s Ministry of Mines and Energy froze the state-controlled Petrobras’ sale of assets as the new Lula administration looks to implement a new energy policy. Petrobras reported the suspension from the Ministry last 90 days, while a reassessment of the...
News

Shell looking to re-enter South America’s hottest new basin

Shikema Dey -
After cutting its losses on Guyana’s offshore acreage 10 years ago, Shell could make a stunning return. Reuters’ sources say that Petrobras, Chevron, and Shell are considering bidding on the 14 oil blocks on auction in Guyana’s current licensing round. Guyana’s...
News

Gas strategy to address monetisation of discoveries beyond Liza field – Jagdeo

OilNOW -
Vice President Dr. Bharrat Jagdeo disclosed Friday that Guyana’s National Gas Strategy will examine the monetisation of resources that are outside of the Stabroek Block’s Liza field. The official said this document will be finished by year-end, adding that...
Exploration

Exxon continuing drilling operations at Fangtooth; likely to be 7th Guyana project

OilNOW -
ExxonMobil Guyana is continuing drilling operations at the Fangtooth well site, which yielded a discovery last year, the Maritime Administration Department (MARAD) revealed in a notice. Operations are being undertaken by the Stena Carron rig and are expected to take...
News

Trinidad and Tobago gets high overall score for EITI implementation

OilNOW -
The Norway-based Extractive Industries Transparency Initiative (EITI) has graded Trinidad and Tobago 89 points out of 100, a high overall score in implementing the 2019 EITI Standard. This Standard outlines requirements for implementing countries in their mission to disclose...
News

TotalEnergies inks deal to buy CEPSA’s upstream assets in the UAE

OilNOW -
TotalEnergies said it signed an agreement to acquire CEPSA’s upstream assets in the United Arab Emirates, with effect from January 1, 2023. The assets to be acquired are: a 20% participating interest in the Satah Al Razboot (SARB), Umm Lulu, Bin...
News

Frontera farm-in to Corentyne complete; Demerara, Berbice blocks relinquished

OilNOW -
In narrowing their focus on the northern section of the Corentyne Block, the co-venturers have completed a farm-in agreement that increased Frontera Energy’s stake to 68% and decreased CGX Energy’s stake to 32%. CGX announced the completion last Wednesday. The farm-in...
News

24 Guyanese to get fast-tracked introduction to oil sector with GO-NDE’s new “Learn & Earn” training program

OilNOW -
GO NDE Inc. has teamed up with Global Compliance Service Inc. to grant 24 Guyanese nationals an opportunity to fast-track their introduction to the oil and gas industry through its newly developed “Learn & Earn” Training program. GO NDE said...
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Latest News

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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