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Eni, bp form new Angola-focused JV company, Azule Energy

OilNOW -
An equally split deal between bp and Eni has led to the creation of Azule Energy – now coined the largest independent equity producer of oil and gas in Angola. Azule Energy has been in the pipeline for months; bp...
Exploration

100M-barrel Jethro well could be Guyana’s first oil production project outside Stabroek Block

OilNOW -
The fallout from Russia's invasion of Ukraine has resulted in a spike in oil prices. Now, the Orinduik Block partners - Eco Atlantic, Tullow Oil, TotalEnergies and Qatar Energy - plan to revisit the commercialisation potential of the Jethro...
News

Stabroek Block agreement equitable for both government, investors – Exxon

OilNOW -
President of ExxonMobil Guyana, Alistair Routledge, says that the Stabroek Block Production Sharing Agreement (PSA) is one that is equitable to both Guyana and the consortium of investors. Routledge pointed this out in a recently published article by a...
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Gas-to-Energy: Exxon hires TechnipFMC to install risers, pipelines

OilNOW -
TechnipFMC said Monday it was awarded a significant contract by ExxonMobil affiliate, Esso Exploration and Production Guyana Limited, for the Gas-to-Energy Project in Guyana. The company said ‘significant’ refers to agreements valued between US$75 million and US$200 million. The funds...
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Guyana will be among the top five elite global offshore producers by 2035 – Rystad Energy

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With ExxonMobil and partners fast-tracking exploration and development projects in Guyana, the country is set to rank in the top five-list of elite global producers by 2035. This is according to Rystad Energy, an independent energy research and business...
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With competition rising, oil nations sweetening the pot to attract investors

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In South America and the wider Caribbean region, Guyana is dominating the oil and gas market since emerging in 2015. And now, faced with heavy competition to pull major investors, other oil-producing nations are introducing new regulatory frameworks to...
News

Guyana encouraging low-emission cars, clean energy technologies with tax exemptions

OilNOW -
With the goal of stimulating growth with clean energy and low-carbon technologies, Guyana is encouraging investments in low-emission cars and renewable energy sources with tax exemptions. In the finalised Low Carbon Development Strategy (LCDS) 2030 – a national low-carbon advancement...
News

At US$1.5 billion a piece, Exxon says 10 FPSOs by 2030 remain in play for Guyana

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By the end of this decade, ExxonMobil envisions up to ten floating production storage and offloading vessels (FPSO) operating offshore Guyana. This is according to the ExxonMobil Guyana President, Alistair Routledge in an article published by Senior Contributor to...
News

Guyana delivering ‘best rocks for best returns’ as global oil supply set to tighten

OilNOW -
With the United States facing economic slowdown thereby fuelling recessionary fears and the Russia-Ukraine war in its sixth month, Hess Corporation’s Chief Executive Officer (CEO), John Hess, said the company expects the global oil market to get tighter. During his...
News

New oil producer wants to maximise value in forestry, mining, tourism industries

OilNOW -
With Guyana’s oil revenues projected to peak at US$16B in 2036, President, Irfaan Ali has said that a significant portion of these profits will be used to maximise the value and sustainability of industries such as forestry, mining, and...
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Hammerhead gas to flow through pipeline as soon as project starts

Gas from ExxonMobil’s newly sanctioned Hammerhead development will begin flowing immediately through Guyana’s Gas-to-Energy (GtE) pipeline once production starts...

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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