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CIC Insurance Brokers (Guyana) Inc.’s new Finance Director is Gavin Ramsoondar

OilNOW -
CIC Insurance Brokers Guyana Inc., a full-service insurance brokerage, which is majority owned and controlled by local conglomerate, ZARC Group of Companies, has appointed Gavin Ramsoondar, a young business professional, to its Board of Directors. Ramsoondar, who will also serve...
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New solar projects for Guyana as US$83.3M deal signed with IDB

OilNOW -
New oil producer Guyana continues to advance steps towards greener energy sources. Senior Finance Minister, Dr. Ashni Singh on Tuesday signed a US$83.3 million agreement with the Inter-American Development Bank (IDB) to fund eight utility-scale photovoltaic solar projects totalling 33 megawatt-peak...
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Stabroek Block production averaged 372,000 bpd in first half of August

OilNOW -
Recently updated information from Guyana’s Petroleum Management Programme shows Stabroek Block oil production averaging 372,000 barrels per day (bpd) for the period August 1-15, 2022. Production in this period reached its lowest on August 4 with just over 245,000 bpd,...
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Guyana will need robust commercial framework to maximise gas export benefits – Norway firm

OilNOW -
With Guyana’s current estimated recoverable gas totalling over 17 trillion standard cubic feet, the government has already commenced efforts to determine the best use for these resources. The government reminded, in its 2022 mid-year report, that under the Yellowtail...
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Budget 2022 has kept Guyana out of Dutch Disease pathway – Financial Analyst

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Given that Guyana’s 2022 Budget prioritises spending on capital projects as opposed to rapid increases in recurrent expenditure, financial analyst and researcher, Joel Bhagwandin says this is a clear indication that the country is making decisive efforts to steer clear of the Dutch...
Exploration

Exxon targeting Sailfin, Banjo wells as hunt for more oil in Stabroek Block continues

OilNOW -
Pursuing an aggressive drill campaign, Stabroek Block operator – ExxonMobil – has moved on to the Banjo-1 and Sailfin-1 wells as it looks to find more oil offshore Guyana. According to notices published by Guyana’s Maritime Administration (MARAD) over the...
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Guyana says its energy use can increase fivefold by 2030 while emissions stay at 2018 levels

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Guyana’s infrastructure boom will see urban settlements undergoing significant expansion over the years. But what does this mean for the country’s carbon footprint? According to the government’s transition plan, outlined in the Low Carbon Development Strategy (LCDS) 2030, Guyana’s energy...
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All oil companies should be at forefront of making positive impacts in Guyana, says Hess

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CEO of Hess Corporation, John Hess, says his company is determined to play a lead role in fostering positive social development in Guyana. Speaking at a forum last week, he pointed out that all oil companies operating in the...
News

Petrobras backtracks on sale of deepwater field

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Brazil’s state-owned Petrobras decided to end the divestment process for a sale of its entire stake in a Brazilian deepwater field - Albacora concession - to PRIO, formerly PetroRio, as both parties have failed to come to an amicable...
News

‘Perfect storm’ could see Europe facing rolling blackouts as gas supply dwindles – Rystad Energy

OilNOW -
With tensions remaining high with its European neighbours, Russia has halted all gas exports through Nord Stream 1, the gas pipeline that supports the continent, for an indefinite period. While Russia exported close to 350 million cubic meters per day...
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Survey says Exxon is ‘Most Admired Explorer’ propelled by mega wins in Guyana

ExxonMobil has been named the most-admired upstream explorer in the world, according to Wood Mackenzie’s 2025 Exploration Survey, a...

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