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Budding oil powerhouse bent on boosting food security, slashing import bill for 15 countries

OilNOW -
New oil producer, Guyana, is placing much emphasis on having a diversified economy and has put agriculture on the front burner as it seeks to boost food security for the Caribbean region. The Caribbean Community (CARICOM) has set out an ambitious target of slashing its food import...
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US$60 billion to be invested in Guyana oil and gas sector this decade – Rystad analyst

OilNOW -
Rystad Energy’s Latin America analyst, Sofia Forestieri, said the energy research firm expects international oil companies to invest approximately US$60 billion into exploration and production activities, mainly in the Stabroek Block, in the decade 2021-2030. Rystad projected that, of investments...
News

Better to use gas for Guyana’s benefit than to flare, reinject it – GCCI President

OilNOW -
Guyana’s current natural gas reserves total some 16 trillion cubic feet, according to the Vice President, Dr. Bharrat Jagdeo. And that gas can either be used for energy generation or reinjected into Guyana’s offshore wells. The government has a ‘no...
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Guyana received over GY$16 billion in royalty payments since 2020

OilNOW -
Since becoming an oil producer, Guyana has received GY$16,889,629,390.29 (US$81,005,416.74) in royalty payments. In keeping with the stipulations of the Natural Resource Fund Act 2021, the information was recently presented to the National Assembly after being published in the Official...
News

US lawmakers blast change in policy towards Venezuela; oil projects could increase

OilNOW -
(S&P Global Platts) Details remained scant May 18 on a US policy shift that could chart a path for US companies to again invest in and operate Venezuelan oil projects as the Biden administration has reportedly begun to ease...
News

Exxon, Equinor looking to expand oil development offshore Brazil

OilNOW -
(Reuters) - Equinor SA and Exxon Mobil Corp have taken the first steps to expand an $8 billion oil development off Brazil's coast, the Norwegian oil producer told Reuters. The firms want to boost future production from the Bacalhau oil field, Equinor's...
News

T&T appoints Chair of National Gas Company as High Commissioner to Guyana

OilNOW -
Conrad Enill, the current Chairman of Trinidad and Tobago’s National Gas Company (NGC) is now the twin-island Republic’s High Commissioner to Guyana. His appointment comes at a time when Guyana is amassing considerable natural gas reserves in the offshore Stabroek Block, and...
News

Refrain from MoU with T&T until trade barriers are removed – Georgetown Chamber tells Government

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI) is strongly urging the government to refrain from inking a Memorandum of Understanding (MoU) with Trinidad and Tobago, until the twin-island nation opts to remove its Non-Tariff Barriers (NTBs), which are...
News

Tucker knocks T&T trade barriers again as Rowley, Ali prepare to sign MoU

Kemol King -
As Prime Minister of Trinidad and Tobago, Dr. Keith Rowley arrived in Guyana for the Regional Agri-Investment forum, one businessman Timothy Tucker is reanimating the discussion about non-tariff barriers to trade. Timothy Tucker, who happens to be President of the...
Exploration

Discovered resources in Guyana set to increase as Exxon ramps up exploration operations

OilNOW -
ExxonMobil’s search for more crude is moving forward offshore Guyana, with campaigns ongoing at new prospects at the 6.6 million acres Stabroek Block. The company is continuing exploration drilling operations at Seabob-1 and Kiru Kiru-1 utilising the Stena Carron and...
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Eco Atlantic announces passing of Co-Founder and Chief Operating Officer Colin Kinley

Eco (Atlantic) Oil & Gas Ltd. has announced the sudden passing of its co-Founder and Chief Operating Officer, Colin...

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