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Exploration

Guyana’s first oil block auction: What to expect

Shikema Dey -
All eyes will be on Guyana come September when the country opens its first offshore bid round. This will be a major step for Guyana, a country that has never handed out oil licenses through a competitive process. Oil and...
Exploration

Maersk Resolute rig secured for additional five-well drilling with Petrogas in Dutch North Sea

OilNOW -
Petrogas E&P Netherlands B.V. has secured Maersk Drilling’s harsh environment jack-up rig ‘Resolute’ for an additional five-well drilling work scope, amending a previous agreement. An option included in the original contract will be replaced by the newly entered five-well contract,...
News

T&T government, Shell discuss possible restructure of Atlantic LNG

OilNOW -
A potential restructure of Trinidad and Tobago’s Atlantic LNG dawns as a team of top government officials led by the Prime Minister Keith Rowley recently engaged with Shell Global at its Hague headquarters to discuss future developmental plans for...
News

US, Norway, Brazil, Canada and Guyana will be main drivers of oil growth next year – OPEC

OilNOW -
With two projects producing, two more approved and a fifth being planned, Guyana’s rapid development of its oil and gas resources is positioning the country as a major non-OPEC player among heavyweights such as Norway, Brazil and Canada. OPEC said...
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Guyana is not a 50% owner in Exxon’s operations; “this is a mistake many people make” – Jagdeo

OilNOW -
Guyana’s Vice President Dr Bharrat Jagdeo believes that a better understanding of the arrangement between the government and ExxonMobil local affiliate Esso Exploration and Production Guyana Limited (EEPGL) will help the public to have more realistic expectations about the...
News

CNOOC starts production at 7,100 bpd oilfield in China’s Bohai Sea

OilNOW -
CNOOC Limited announced first oil at the Kenli 6-1 oilfield 10-1 North Block Development Project. It said the project is in the south of the Bohai Sea, with an average water depth of about 19 meters. The main production facilities include one production platform and two unmanned...
News

Russian Oil Giant Rosneft assets seized by Germany

OilNOW -
(Bloomberg) Germany seized the local unit of Russian oil major Rosneft PJSC as Berlin moves to take sweeping control of its energy industry, secure supplies and sever decades of deep dependence on Moscow for fuel. In the latest move, the government said...
News

SBM Offshore is first major Exxon contractor to receive approval for local content master plan

OilNOW -
SBM Offshore is the first prime contractor of ExxonMobil Guyana to receive its Letter of Approval for its Local Content Master Plan, 2022. Halliburton was the second company to receive this letter followed by CGX Energy Inc. The Ministry of...
News

Guyana foreign direct investment increased by 47.2% in first half of 2022

OilNOW -
Guyana’s foreign direct investments (FDI) have seen a 47.2% or US$629.7 million growth in the first six months of the year to US$1.964 billion. This was disclosed by Guyana’s Central Bank. In its latest report, the financial regulator said the increase is primarily due to the oil and gas sector. FDIs are...
News

Modernised petroleum law for Guyana likely by March 2023 – Vice President

OilNOW -
Vice President Dr. Bharrat Jagdeo said the government is currently reworking the Petroleum (Exploration and Production) Act of 1986, to modernise its provisions. The Act applies to the exploration, extraction, conservation, and management of petroleum reserves existing in Guyana’s exclusive...
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ExxonMobil says Guyana operations funded from equity, not U.S. taxpayers’ dollars

ExxonMobil Guyana says no American taxpayer money is financing its operations in the South American country. President, Alistair Routledge,...

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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