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Guyana seen as better option than Venezuela, in Biden’s bid to lower US gas prices

OilNOW -
Miami Herald columnist, Andres Oppenheimer says that if President Joe Biden of the United States wants to lower gas prices there, he would be better off negotiating with Guyana, rather than Venezuela. “President Biden recently sent a team of senior...
Exploration

Guyana pointing explorers to available acreage ahead of landmark bid round

OilNOW -
Guyana - the hottest new petroleum exploration destination on the planet - is currently inviting oil explorers to tap into unlicensed onshore and offshore acreages. As the country prepares to auction oil blocks later this year, the Guyana Office for...
News

More oil revenues for Guyana this year as Liza-1 production set to increase

OilNOW -
Since 2020, ExxonMobil had planned to make modifications to the Liza Destiny floating production, storage and offloading (FPSO) vessel to safely sustain oil production levels higher than its current nameplate of 120,000 barrels per day. This will soon become...
Exploration

Baker Hughes to boost well capabilities with acquisition of Norwegian firm

OilNOW -
Baker Hughes said on Monday that it will be acquiring Altus Intervention, a Norwegian company with four decades of industry experience developing well-intervention solutions. With this acquisition, Baker Hughes will have the opportunity to further improve its life-of-well capabilities for...
News

Oil producer, Guyana, removes excise tax on fuel in response to global disruptions

OilNOW -
Vice President of Guyana, Dr. Bharrat Jagdeo announced on Wednesday that the government has reduced the excise tax on fuel to 0%, in response to growing anxiety about rising commodity prices. The reduction applies to diesel and gasoline, and represents...
News

Date for elective nomination of second well at Kaieteur Block extended

OilNOW -
The date for elective nomination, by ExxonMobil, of the prospect target for the second well on the Kaieteur Block has been extended to October 2, 2023, according to Ratio Petroleum Energy Limited a 25% stakeholder in the block. With reference...
News

Veteran business executive, former mining chief nominated to board managing Guyana’s oil fund

OilNOW -
The process is underway for the establishment of Guyana’s first board of directors for its Natural Resource Fund. Of the three to five Directors to sit on the Board, as per the stipulations of the new Natural Resource Fund...
News

CARICOM has largely been a failure; opting out Treaty to protect oil sector a matter of national interest – Datadin maintains

OilNOW -
Attorney-at-Law and Member of Parliament Sanjeev Datadin insists that his suggestion that Guyana can enter a reservation to opt-out of certain obligations under CARICOM's Revised Treaty of Chaguaramas (RTC), is sound, irrespective of arguments that resist such an approach. Datadin’s comments...
News

Guyana respects ‘sanctity of treaties’, pulling out of CARICOM pact would be unwise, says Advisor on Borders

OilNOW -
Some stakeholders in Guyana have argued that the new oil producing South American country has at its disposal, the choice to opt-out of obligations under the Caribbean Community's (CARICOM) Revised Treaty of Chaguaramas (RTC) so as to ensure the...
Exploration

Exxon resuming drill campaign at Barreleye-1

OilNOW -
ExxonMobil is set to continue drilling activities at the Barreleye-1 prospect at the Stabroek Block offshore Guyana, following ongoing drilling activities at Kiru Kiru which commenced earlier in March. The drill campaign at Barreleye-1 had started in January but was not...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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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