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Oil companies’ record-breaking profits and the Russia-Ukraine war

OilNOW -
While it was pleased to net a record-breaking US$6.6 billion in earnings during the 2022 third quarter, French multinational conglomerate, TotalEnergies has expressed concern about the circumstances that led to its big payday. Its Chief Financial Officer, Jean-Pierre Sbraire noted recently that...
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Suriname, oil companies partner for technical, vocational training programme

OilNOW -
Staatsolie announced last week that the first group of 30 students attended a ceremonial launch of an 18-month technical training programme. The ‘Oil & Gas Kopprogramma’ at the Institute of Natural Sciences (NATIN) is being offered through a collaboration between...
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Guyana’s forests provide massive legroom for development of oil resources – VP Jagdeo

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Guyana’s forests which stretch over 18 million hectares absorb 154 million tons of carbon dioxide (CO2) annually from the atmosphere. This is about the same annual greenhouse gas emissions from Norway, Sweden, Finland, and Denmark with a combined population...
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Guyana to be lead productive asset for Hess by 2025

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With the Liza Destiny and Liza Unity FPSOs producing approximately 360,000 barrels of oil per day (bpd), Guyana is already the second leading productive asset for Hess Corporation, a 30% partner in the Stabroek Block. And once the Prosperity and...
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Oil refinery is to ensure Guyana does not run out of fuel, says Vice President

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While Guyana has invited interested bidders to submit proposals to finance and build the country’s first oil refinery, this is by no means an indication of the country’s interest to be the refining capital of the region, says Vice...
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Guyana trying to break free from Bunker C fuel; shelving gas project would be reckless – financial analyst

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While a United Nations report, released last month, lobbies for countries to invest in renewable energy sources over natural gas, Guyanese stakeholders insist that the government remain steadfast in realising its agenda for a gas-led energy mix. In fact, financial...
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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...
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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...
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Guyana’s maiden bid round targeting minimum of US$170M in signing bonuses

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

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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...
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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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