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Guyana economy now about US$17,000 per capita GDP

OilNOW -
Guyana’s gross domestic product (GDP) per capita is now around US$17,000 according to the country's Vice President, Dr. Bharrat Jagdeo. This is an increase from US$5,577 in 2015, the year oil was first discovered off the country's coast. This statistic...
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Petrobras, CNOOC ink deal for Natural Gas Processing System in Santos Basin

OilNOW -
Petrobras said that it has signed an Integrated Natural Gas Processing System (SIP) contract with CNOOC Petroleum Brasil Ltda. (CNOOC) and, together with Petrogal Brasil, Repsol Sinopec Brasil and Shell Brasil – partners in the Santos Basin pre-salt offshore...
Exploration

‘Biodegradation risk’ could hamper some of Guyana’s offshore developments – S&P Global

OilNOW -
Although being the holder of the world’s 17th largest oil reserves with an exploration success rate that is more than double the global average, offshore operations in the Guyana basin still come with risks. In its latest assessment and...
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Lengthy licensing rounds, delayed regulatory approvals bad for investment-African Energy Chamber

OilNOW -
Executive Chairman of the African Energy Chamber, NJ Ayuk, has said that delayed regulatory approvals and acreage licenses could be a serious setback for the petroleum industry. His comments were made in the context of a need for more investment...
News

Brazil’s new energy minister pushing expansion of refining sector

OilNOW -
(Reuters) - Brazil's new mines and energy minister Alexandre Silveira said on Monday that state-run oil company Petrobras would play a leading role in expanding the refining sector and stressed the importance of developing renewable resources. Petrobras would encourage other...
Exploration

Exxon looking to deliver more pay as drilling operations continue at Tarpon, Fangtooth

OilNOW -
ExxonMobil’s campaign to find more hydrocarbons at Guyana’s largest block remains in high gear at the start of 2023 with exploration drilling operations continuing at the Tarpon and Fangtooth well sites. According to a notice from the Maritime Administration Department...
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ENI contracts Wison Heavy to install FLNG unit offshore Republic of Congo

OilNOW -
Eni has signed a contract with Wison Heavy Industry for the construction and installation of a floating liquefied natural gas (FLNG) unit with a capacity of 2.4 MTPA (million tons per annum).  The FLNG will be deployed offshore the Republic...
News

Lula takes Brazil’s reins, vowing to combat climate change, protect the Amazon

OilNOW -
Luiz Inácio “Lula” da Silva has reassumed the Presidency of Brazil, the largest democracy and oil producer in Latin America. With this assumption, Lula delivered an impassioned speech about his plans to tackle inequality, discrimination and threats to Brazil’s...
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Guyana President on visit to South America’s biggest oil producing nation

OilNOW -
Dr. Mohamed Irfaan Ali, President of South America’s up and coming oil producing powerhouse Guyana, is on a visit to Brazil, the continents biggest oil producer. According to a statement from the Office of the President, Mr. Ali left Guyana...
News

Guyana Oil & Gas: What to look forward to in 2023

Kemol King -
Every new year in the development of Guyana’s oil and gas sector has arguably been bigger than the one before it. With new project start-ups, increasing oil production, and more revenues to the country, 2023 is tipped to continue...
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Guyana must transform its oil boom into sustainable, broad-based prosperity – Minister Ally 

Guyana’s Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, has called on business leaders to convert the...

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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