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Guyana, Suriname bid rounds to fuel new competitive oil market – S&P Global

OilNOW -
S&P Global believes bid rounds in Guyana and Suriname will attract further investments that are needed to drive the development of a competitive global oil environment. Given the trail of economic damage left by the COVID-19 pandemic and the Russia-Ukraine...
News

Early investments by Exxon pushing development of local capacity in Guyana – Routledge

OilNOW -
President of ExxonMobil Guyana, Alistair Routledge, believes that early capacity building investments are paying dividends as seen in the growth of local content numbers in the local oil and gas industry. The company said on Wednesday that more than...
News

Repsol acquires European renewables company for €560 million

OilNOW -
Operator of the Kanuku block, Repsol, said it spent €560 million to acquire Asterion Energies, a Spanish company focused on renewable energy projects in Europe. The transaction, which includes contingent payments of up to €20 million, goes toward fulfilling Repsol’s plan to reach...
News

Guyana Rides the Tide of Foreign Investment

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By Scott B. MacDonald - OilNOW Foreign direct investment (FDI) in the Caribbean has seen some lean years and some bountiful years. 2020 was a brutal year due to the Covid-19 pandemic; 2021 was much better, with FDI bouncing back...
News

Guyana’s non-oil economy to deliver “better-than-expected” growth in 2022

OilNOW -
The Inter-American Development Bank’s (IDB) latest review of Guyana’s affairs shows that the nation’s non-oil economy is projected to have “better-than-expected” growth for 2022. In its quarterly report published Tuesday, the IDB said the country's non-oil sector is estimated to...
Exploration

TotalEnergies and Eni make new gas discovery offshore Cyprus

OilNOW -
TotalEnergies and Eni (operator) have made a new gas discovery at the Zeus-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 and the Cronos-1 discoveries made on the same block respectively in 2018 and August 2022....
News

Petrobras cops operatorship of three blocks in Campos Basin bid round

OilNOW -
Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP) has awarded the state-owned Petrobras operator status of three blocks located in the Campos Basin, offshore Brazil. The blocks are called Sudoeste de Sagitário, Água Marinha and Norte de Brava. Brazil’s pre-salt churns...
News

EPA greenlights Guyana’s first Rope Access Training centre

OilNOW -
Qualco Guyana has received authorisation from the Environmental Protection Agency (EPA) for the country’s first rope access training facility located at Supply, East Bank Demerara. “This permit covers the company’s activities for a workshop and equipment storage facility at the company’s operations...
News

Guyana’s industry-leading production commendable but transparency, governance need more work – Analyst

OilNOW -
Since achieving first oil on December 20, 2019, Guyana has maintained an industry-leading pace of development and production, much to the credit of its partnership with seasoned oil majors. But even amid such successes, it must still hasten to...
News

Eco increases shares in Africa’s newest exploration hotspot

OilNOW -
Eco Atlantic Oil and Gas has successfully upped its participating interest share in Block 3B/4B offshore South Africa by 6.25%. The company in an announcement on Monday said it received all the requisite regulatory approvals from the Department of Mineral Resources and...
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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...

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