News

News

Brazil mature asset reserves could jump by 1 billion boe

OilNOW -
With Petrobras divesting in many of its mature assets, new mid-cap upstream operators entering the Brazilian market will invest US$10 billion in capital investments during the next decade, boosting the production from these assets through 2027 and increasing remaining...
News

Issuance of ART credits to Guyana a breakthrough for global carbon market, says Norway

OilNOW -
Norway’s Minister for Climate and Environment, Espen Barth-Eide, said the validation and issuance of certified carbon credits on the register of Architecture for REDD+ Transactions (ART) is a breakthrough for the emergence of a high-quality global carbon market to...
News

New US$3 million dry-dock yard to support Guyana’s booming marine sector

OilNOW -
A venture by Pritipaul Singh Jr. will see some US$3 million being invested into Dock Yard – a drydocking facility and shipyard located at Supply, on Guyana’s East Bank corridor. Dry Dock will be housed on a 30,000 square feet...
News

Petrobras to plug US$78 billion into CAPEX for 2023-2027

OilNOW -
Brazil’s state-owned Petrobras plans to invest over US$78 billion into capital expenditures (CAPEX) to achieve goals outlined in its new 2023-2027 Strategic Plan. Petrobras said that the amount is higher than the average of its last six strategic plans, signaling that investments have returned...
News

More Guyanese trained to service electric vehicles

OilNOW -
The Department of Public Information has said that thirteen persons received certificates for their successful completion of a Level Three Hybrid and Electric Vehicle training programme in Georgetown. The five-day programme taught participants how to identify, repair, and maintain various...
News

Guyana’s oil fund almost at US$1.4 billion at November’s end

OilNOW -
Guyana’s Natural Resource Fund (NRF), held at the New York Federal Reserve Bank, soared to US$1,391,406,433 at the end of November 2022. In its monthly statement on the Fund, Guyana’s Central Bank said the account received GY$36.9 billion (US$177.14...
News

Resource-dense Stabroek Block offers tremendous scope for tie-backs – Hess Chief

OilNOW -
With Guyana’s Stabroek Block being such a resource dense concession, ExxonMobil Guyana and its partners see great potential for tie-backs that could lengthen the lifespan of varying projects. This was noted by Chief Executive Officer (CEO), John Hess during the Bank of America...
News

Guyana, Brazil will have to brace for costlier deepwater projects

Kemol King -
In a recent analysis of deepwater developments, Wood Mackenzie said that supply chain constraints remain a concern. And this spells difficulty for operators under pressure to increase drilling and production at a time when energy markets have been sent...
News

Strong institutions, citizens’ innovative skills key to Guyana unlocking oil potential – Professor Haynes

OilNOW -
As oil-rich Guyana continues its quest for transformative growth, there are two main factors that will determine the extent of its success—the robustness of its institutions and government’s ability to harness the innovative gifts of its citizens. Making this point during...
News

Guyana to keep a diversified portfolio of foreign aid, despite growth in oil revenues – Finance Minister

OilNOW -
Notwithstanding Guyana’s multi-million-dollar earnings from the oil and gas sector, it will maintain a diversified portfolio of low-interest lenders. Senior Finance Minister, Dr. Ashni Singh made this declaration while facilitating a meeting with British officials on the mobilisation of...
1...333334335...1,017Page 334 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