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Guyana raked in over GY$48B in oil revenues in second quarter

OilNOW -
In just three months, Guyana received a total of GY$48,406,316,589 (US$232,164,587.96) in royalty and profit oil payments in the Natural Resource Fund (NRF), according to a notice published in the Official Gazette dated July 18, 2022. Giving a breakdown, the Finance...
News

CGX CFO leaves job with immediate effect, new person appointed

OilNOW -
CGX Energy announced on Monday that its newly installed Chief Financial Officer (CFO) George Davis has been replaced by Daniel Sanchez – currently head of the Corporate Consolidation and Reporting team at Frontera Energy Corporation, effective immediately. Davis had been appointed CFO on July 5 but according...
News

Guyana modernising transport infrastructure in region set for major development

OilNOW -
As the growth of Guyana's oil and gas sector fuels development in areas where service centers are erected, the government is moving to upgrade and modernise supporting infrastructure – particularly for the transport sector. Through the Central Housing and...
News

US gas production to surpass record 100 Bcfd by year-end, more growth expected in 2023 – Rystad Energy

OilNOW -
US natural gas production is forecast to hit an all-time high in the coming months, racing past 100 billion cubic feet per day (Bcfd), helping feed global demand as the world faces a severe supply shortage. Rystad Energy’s analysis...
News

Guyana will not engage in “unproductive splurge” of oil revenues – Vice President

OilNOW -
Guyana intends to invest billions of dollars in oil revenues in the country’s capital projects to build capacity and transform infrastructure.  According to the Vice President, Dr. Bharrat Jagdeo, this is “absolutely necessary” to get the most out of...
News

‘Africa’s gas resources can leapfrog continent’s transformation’ – Energy Chamber

OilNOW -
With total gas reserves of 620 trillion cubic feet, Africa’s gas resources provide the continent with an opportunity to leapfrog into its energy transition and reduce emissions and deforestation rates, while at the same time addressing energy security within...
News

Guyana’s largest shore base secures 11-year contract extension with Exxon

OilNOW -
The Guyana Shore Base Inc. (GYSBI) – the South American nation’s premiere shore base facility secured an 11-year extension contract to see it giving continued service to ExxonMobil’s Guyana affiliate, Esso Exploration and Production Guyana Limited (EEPGL). GYSBI’s new contract...
Exploration

Impact study required for 35-well campaign at Stabroek Block – EPA

OilNOW -
Guyana’s Environmental Protection Agency (EPA) said in a notice over the weekend that an Environmental Impact Assessment (EIA) of the cumulative effects of a 35-well campaign proposed by ExxonMobil at the Stabroek Block, is required before a determination can...
Exploration

Unlocking potential of Suriname’s 30 billion boe could be transformational – Legal Advisor

OilNOW -
The most striking news to emerge from Suriname’s recently concluded Energy, Oil and Gas Summit (SEOGS) 2022 was uttered by the Vice President of Offshore at Staatsolie, Glenn Corrie – that 30 billion barrels of oil equivalent awaits discovery in the South American nation’s...
News

Saudis say OPEC+ is effective, as Biden leaves region without oil deal

OilNOW -
(S&P Global Platts) Saudi officials said on July 16 that the country's oil production policies are implemented within the OPEC+ group as US President Joe Biden ended his four-day trip to the Middle East without a pledge for higher...
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Latest News

NewsShikema Dey -

Wales Gas-to-Energy project accelerates with 120 day foundation plan

Guyana’s Gas-to-Energy project at Wales is entering a crucial phase as contractor Lindsayca Guyana pushes to complete all foundation...

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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