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New report estimates Orinduik Block holds over 8 billion barrels of oil

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The latest Competent Person’s Resource (CPR) Report, compiled by Letha C. Lencioni of WSP USA Inc., shows that in terms of oil, the Orinduik Block holds a best estimate of 8.1 billion barrels of Unrisked Prospective Resources. It also holds a...
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Guyana to spend 60% of oil revenues on development projects in four years

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As ExxonMobil positions itself to ramp up production in Guyana’s Stabroek block by adding projects nearly every year, the government plans to spend a majority of its early windfall for development projects. Guyana projects that the total inflows to its...
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Burgeoning real estate industry attracts US giant, Keller Williams, to Guyana’s shores

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Said to be the largest real estate franchise in the world, the US franchise Keller Williams (KW) has announced its decision to expand into Guyana. Already serving more than 50 countries outside of its main operations in the United States...
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Guyana on track to become second largest deepwater producer in the world, says Rystad Energy

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Authorities in Guyana say the country is committed to supporting an aggressive exploration and production programme off of its coast since it sees revenues coming in from the oil and gas sector as playing a key role in the...
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Oil jumps again, as EU considers Russian embargo

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(Reuters) - Oil prices jumped more than $3 on Monday, with Brent crude climbing above $111 a barrel, as European Union nations considered joining the United States in a Russian oil embargo and after a weekend attack on Saudi...
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Global energy markets could be facing the biggest supply crisis in decades – IEA

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As a result of surging oil prices following the Russia-Ukraine crisis, global energy markets are now facing what could turn out to be the biggest supply crisis in decades, said the International Energy Agency (IEA) on Monday. While it is...
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City businessman urges compromise from environmentalists, in favour of Guyana’s development

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Guyana has a tremendous record in environmental protection due to State policies and the ecosystem and carbon sequestration services that its forests provide. Considering this, Georgetown businessman, Timothy Tucker, is urging hardline environmentalists to exercise compromise for the benefit...
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High oil prices will last for a while, says John Kerry

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(S&P Global Platts) Multiyear highs of crude oil and natural gas prices are a price of standing up to Russia for its ongoing war in Ukraine, John Kerry, US special presidential envoy for climate, said March 7 at CERAWeek...
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Guyana will be one of the main drivers of liquid supplies growth this year, says OPEC

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Liquids supply growth outside of the Organization of Petroleum Exporting Countries (OPEC) in 2021 remained broadly unchanged at around 0.6 million barrels per day (mb/d) year-on-year (y-o-y). The 2021 oil supply estimation primarily sees growth in Canada, Russia, the US...
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Local Content Secretariat inviting stakeholders to report grievances

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In seeking to understand the concerns of stakeholders when it comes to local content, Guyana’s recently established Local Content Secretariat has developed a grievance redress mechanism. Found on the website of the Secretariat, it is highlighted that the input...
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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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