News

News

Veritas Capital set to acquire Global consultancy group Wood MacKenzie

OilNOW -
Verisk recently announced the signing of a definitive agreement under which an affiliate of Veritas Capital will be acquiring, Wood Mackenzie (WoodMac) – the world-renowned data analytics source. Veritas Capital describes itself as a private equity firm that invests in...
News

Petrobras strikes more oil in Santos Basin

OilNOW -
In a four-day span, Brazil’s state oil producer, Petrobras, announced that it discovered oil in two Santos Basin wells. The first discovery was made during a training test at the pioneer well 1-BRSA-1381-SPS (Curaçao) in the pre-salt of the southwestern...
News

Guyana’s maiden bid round targeting minimum of US$170M in signing bonuses

OilNOW -
For Guyana’s first oil blocks auction, the government has said successful bidders will have to pay a minimum of US$10 million for each of the 11 shallow water blocks in play. They would also have to pay a minimum of US$20...
News

Guyana engaging world-renowned engineering firms for Gas-to-Energy project

OilNOW -
Guyana’s Vice President, Dr. Bharrat Jagdeo, disclosed on Thursday that the government is engaging world-renowned engineering and consulting firms, Stantec and Worley, for its landmark Gas-to-Energy Project set to come online by 2024. The former Head of State said tenders were...
News

Saipem closes sale of onshore business to KCA Deutag

OilNOW -
Saipem said it closed the sale of its onshore drilling business on Friday to KCA Deutag. The agreement was announced in June. Specifically, Saipem’s activities in Saudi Arabia, Congo, United Arab Emirates and Morocco have been transferred. The agreement provides for...
News

Hess’ net Stabroek Block output jumps 66,000 bpd; 8 million barrels sold in third quarter

OilNOW -
Hess Corporation, which holds a 30% stake in the Stabroek Block, reported on Wednesday that its net production in the offshore concession increased by 66,000 barrels of oil per day (bpd). In its operational update on Guyana, the company said...
News

COP27 must outline clear roadmap for financing climate adaptation – UN Secretary General

OilNOW -
When the 2022 United Nations Climate Change Conference, more commonly referred to as COP27, gets underway next week, global leaders must once and for all, outline a clear roadmap for providing vulnerable nations with vital financing for climate adaptation. This...
News

14 oil blocks up for auction in South America’s hottest new basin

Kemol King -
Guyana’s Vice President, Dr. Bharrat Jagdeo, announced Thursday that the government settled the main fiscal terms for the new model production sharing agreement, including 10% royalty and a 65% cost recovery cap. These terms, he explained, will apply for blocks awarded at...
News

Over GY$32 billion deposited into Guyana oil fund for October

OilNOW -
For October 2022, Guyana’s Natural Resource Fund (NRF) account received almost GY$33 billion (US$155.943 million) in deposits. This was noted by the Central Bank in its monthly summary of the Fund’s financial position and performance. Central Bank said royalties received for that period...
News

Maersk Nomad arriving in Guyana this month to support Exxon’s drilling operations

OilNOW -
ExxonMobil affiliate, Esso Exploration and Production Limited Guyana (EEPGL) has signed the subsea support vessel – the Maersk Nomad – to support its field development activities in Guyana’s offshore Stabroek Block. According to Maersk, the contract has a minimum one-year...
1...327328329...998Page 328 of 998

Latest News

NewsOilNOW -

Jennifer Geerlings-Simons makes history as Suriname’s first female President amid offshore oil plans 

PARAMARIBO-SURINAME: Suriname’s National Assembly convened on Sunday to elect the country’s next president in an important parliamentary session. In...

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