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New oil producing nation staying away from price controls to tackle rise in commodity prices

OilNOW -
Guyana’s Attorney General and Minister of Legal Affairs, Anil Nandlall, says government will not institute price control mechanisms as a response to rising prices of various commodities. He made the comments during his weekly live show ‘Issues in The...
News

Oil rally continues as peace talks stall

OilNOW -
(Reuters) - Oil prices extended their gains on Friday at the end of a third volatile week of trade after slim progress in peace talks between Russia and Ukraine raised the spectre prolonged disruption to oil supply. Brent crude futures...
News

Gas pipeline seen as low carbon vehicle to Guyana’s renewable energy future

OilNOW -
Guyana’s landmark gas-to-energy project will reduce emissions significantly when it becomes operational since the South American country currently utilizes heavy fuel oil to generate power. One expert also said emissions can be reduced even further with the use of...
News

As Guyana ramps up production, IEA warns of coming global oil supply shock

OilNOW -
Surging commodity prices and international sanctions levied against Russia following its invasion of Ukraine are expected to significantly depress global economic growth, says the International Energy Agency (IEA) in its March 2022 Oil Market Report (OMR). The IEA said as...
Exploration

Exxon in search of more crude at Kiru Kiru as Stabroek Block campaign intensifies

OilNOW -
ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL), is drilling yet another well, Kiru Kiru-1, at the Stabroek Block offshore Guyana. A notice from Guyana’s Maritime Administration Department (MARAD) stated March 14 as the start date for drilling activities,...
News

US$45M Hope Wind Farm project to provide more than 10% of GPL’s power; enough for 7,000 homes

OilNOW -
Guyana is now closer to launching its first major initiative in renewable energy. The Environmental Protection Agency (EPA) recently granted approval for construction of the US$45M Hope Wind Farm Project. This represents the first substantial utility-scale renewable energy initiative...
News

Suriname, Guyana private sectors form joint business council with broad ambitions

OilNOW -
The Private Sector Commission (PSC) of Guyana and the Suriname Trade and Industry Association held the first meeting of the Guyana-Suriname business council in Paramaribo after it was formed to tackle several broad, ambitious cooperation objectives. The council consists of...
News

Guyana looking at best solution to tackle rising commodity prices – Ali

OilNOW -
Guyana’s President Dr. Mohamed Irfaan Ali underscored the need for Guyana to build long term resilience against disruptions caused by oil and gas price volatility, during an address at the commissioning of a well on Tuesday, to improve access...
News

Guyana can opt-out of CARICOM Treaty obligations if Local Content law is challenged – Datadin

OilNOW -
For those seeking to mount any legal challenge to Guyana’s Local Content Act, Member of Parliament (MP) and Attorney-at-Law, Sanjeev Datadin has categorically stated that such entities would be doing so at their own peril since the government will...
News

CGX searches for vessels, services ahead of July drilling of Wei-1 well in Corentyne Block

OilNOW -
CGX Resources Inc. is in search of some vessels and services to support its drilling of the Wei-1 well in the Corentyne block in July, using the Maersk Discoverer rig. The company is planning to place agreements for three offshore...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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