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High-level Guyana contingent opens booth at Offshore Technology Conference 2022

OilNOW -
The iconic Offshore Technology Conference 2022 opened today with participation from a high-level Guyana group, consisting of government and private sector representatives. The Guyana booth is aptly titled ‘The Gateway to Opportunities’. OTC 2022 is scheduled to run for four...
News

Launch of Liza Phase 2 pushes China’s oil giant production up by more than 28%

OilNOW -
China's offshore oil giant CNOOC offshore assets in South America, led by the Stabroek Block in Guyana and Brazilian Libra and Buzlos Surplus projects, have been identified as important sources of future reserve and production growth for the company, according...
News

Constructive relationship between Guyana and IOCs pushing rapid development of oil resources

OilNOW -
The Guyana government’s early approval in April of the US$10 billion Yellowtail Project is a testimony of the “constructive relationship” it has with the International Oil Companies (IOCs) operating at the Stabroek Block, says Hess Corporation’s Chief Executive Officer,...
News

Maersk Drilling awarded additional three-well contract with Aker BP

OilNOW -
Maersk Drilling has secured a contract with Aker BP, on behalf of the Ivar Aasen license, who will employ the ultra-harsh environment jack-up rig Maersk Invincible for the drilling of three infill wells at the Ivar Aasen field offshore...
Exploration

Exxon eyes bigger production facilities, extending current projects – Darren Woods

OilNOW -
Guyana’s prolific Stabroek Block holds an estimated 11 billion barrels of oil equivalent with only a fraction of the 6.6 million acres (26,800 square kilometers) explored by operator ExxonMobil and its partners Hess and CNOOC so far. More exploration activities are on the...
News

Amidst global disruptions, Guyana is proverbial rose in economic garden – private sector chair

OilNOW -
Guyana has suffered from brain drain for a very long time. The bulk of these migrants have gone on to live in the United States and Canada primarily, for better opportunities. But with the discovery of oil and gas resources,...
Exploration

Equinor to go after Namibia-like exploration success offshore Argentina

OilNOW -
Equinor, the Norwegian state-owned multinational energy company, operates a Block offshore Argentina called CAN-100, which the country hopes later this year will yield a discovery as successful as Namibia’s. Rystad Energy's Senior Vice President and Head of Latin America, Schreiner...
News

IMF will not be calling the shots on National Oil Company for Guyana- Vice President

OilNOW -
While the International Monetary Fund (IMF) has advised that a business case does not exist for a National Oil Company (NOC) in Guyana, Vice President, Dr. Bharrat Jagdeo firmly asserts that the financial body does not decide or determine what is...
News

Guyana still intent on establishing Petroleum Commission – VP

OilNOW -
Guyana’s Vice President, Dr. Bharrat Jagdeo has assured that the government has every intention of establishing a Petroleum Commission. The VP, during a press conference on Friday, did not indicate a definitive timeline when the Commission would be instituted but...
News

Exxon reports over US$5 billion profit despite huge impairment over Russia exit

OilNOW -
ExxonMobil Corporation on Friday announced an estimated first-quarter 2022 earnings of US$5.5 billion compared with US$8.9 billion in the fourth quarter of 2021. The company also reported a US$3.4 billion impairment which it said is associated with its planned...
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Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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