News

News

Bayphase, Stratoil Energy shortlisted to bid for review of Exxon’s Uaru project

OilNOW -
Guyana’s Ministry of Natural Resources has shortlisted Bayphase and Stratoil to vie for the contract to evaluate the field development plan (FDP) for ExxonMobil’s fifth Stabroek Block project – Uaru. Initially, the list had stood at three, but De Godhyer...
News

Land clearing underway for Guyana’s new highland settlement, Silica City

OilNOW -
Lands are currently being cleared on the Linden Soesdyke Highway for the construction of Guyana’s new urban centre outside its capital city of Georgetown – Silica City. The land clearing will initially focus on some 185 acres out of a...
News

World oil demand to hit record levels as China reopens – IEA

Shikema Dey -
Two wild cards dominate the 2023 oil market outlook: Russia and China. According to the International Energy Agency’s oil market report for January, 2023 could see oil demand rise by 1.9 million barrels per day (mb/d) to hit 101.7 mb/d...
News

Guyana, Suriname bid rounds ‘creating buzz’ in global oil industry – WoodMac

Shikema Dey -
Global Analytical Group, Wood Mackenzie said it expects low-key, direct negotiations rather than a proliferation of high-profile licensing rounds as countries look to accelerate their oil and gas potential. But even with that said, WoodMac noted that several licensing rounds...
News

Guyana Central Bank signs pact with oil fund board for its operational management

OilNOW -
Guyana’s Finance Minister Dr. Ashni Singh on Wednesday oversaw the signing of the Operational Agreement for the Management of the Natural Resource Fund (NRF) of Guyana between the Board of Directors of the Fund and the Bank of Guyana...
News

Suriname relaxes taxes under Petroleum Act; could this fast-forward FID this year?

Shikema Dey -
The industry has been asking for months when a Final Investment Decision (FID) for Suriname’s Block 58 would be made, but there has been no clear indication. There has however been speculation and opinions as to why there has...
News

John Fernandes secures US$4 million loan for Guyana’s second mobile crane

OilNOW -
John Fernandes, a household Guyanese name and brand has secured a US$4 million corporate loan from the International Development Bank (IDB) to secure Guyana’s second mobile crane. The deal was overseen by the country’s Minister of Finance, Dr. Ashni Singh...
News

The wait is over: rig arrives to drill CGX’s Wei-1 well

Shikema Dey -
The semi-submersible Noble Discoverer rig has arrived in Guyana to spud CGX Energy’s Wei-1 prospect in the Corentyne Block. This was confirmed to OilNOW by an official from Guyana’s Maritime Administration (MARAD).  Now, all bets are on Wei, a prospect deemed...
News

Worst thing you can do is distribute oil money to every home – Guyana President

Kemol King -
President of Guyana, Dr. Mohamed Irfaan Ali strongly disagrees with suggestions that the country’s windfall revenues from oil production should be distributed to households, across the board. He made this clear during a press conference in Georgetown on Tuesday. The...
News

Liza field plan being revised to pave way for commercial gas production – Guyana Finance Minister

Shikema Dey -
A review of the Liza Field Development Plan (FDP) and license is on Guyana’s agenda for 2023 to allow for the production of natural gas for commercial use in the country.  Its Senior Minister of Finance, Dr. Ashni Singh made...
1...317318319...1,017Page 318 of 1,017

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.

Quick Access

Company Info

Social Networks