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Guyana will be one of the main drivers of liquid supplies growth this year, says OPEC

OilNOW -
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...
News

Local Content Secretariat inviting stakeholders to report grievances

OilNOW -
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...
News

Saipem bags US$325 million contract for drilling campaign offshore Norway

OilNOW -
Saipem has been awarded a contract by Aker BP for a drilling campaign offshore Norway. The operations are expected to start from the end of Q4 2022, upon termination of the works in which Scarabeo 8 is currently engaged. Scarabeo...
News

Halliburton suspends future business in Russia

OilNOW -
Oil field service company Halliburton announced on Friday that has immediately suspended future business in Russia as the company complies with sanctions that prohibit transactions and work, including for certain state-owned Russian customers. Halliburton said it will prioritize safety and...
News

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...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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