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Sod turned for another major hotel as Guyana oil boom expands

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A sod turning ceremony occurred on Wednesday morning in Guyana at a Providence, East Bank Demerara site earmarked for the construction of a US$32 million Hyatt Place Georgetown hotel. The project, adding to a long line of hotels coming to...
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Guyana building multiple power plants to replace heavy fuel oil with natural gas

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The Government of Guyana is working on multiple gas-fired power plants to reduce its dependence on heavy fuel oil (HFO). This is being done in anticipation of the gas-to-energy pipeline which ExxonMobil will start constructing in 2022. In August, Guyana’s...
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Like Guyana, natural gas seen as key player in Peru’s clean energy transition

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Peru has signed the Paris Agreement and committed to develop policies to increase the share of renewable energy sources from current 5.5% to at least 20% by 2040. However, the country needs significant capital investments to ramp up its...
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Exxon targeting US$15 billion in low-carbon investments

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U.S. oil major ExxonMobil, operator of Guyana’s largest oil block, said it plans to grow investments that lower emissions, leveraging the company's technology, scale, integration, and global footprint in the coming years. “Cumulative low-carbon investments are anticipated to be approximately$15...
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Maersk, Noble merging to create world class offshore drilling company

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Maersk Drilling announced Wednesday that it has entered into a definitive agreement to combine with Noble Corporation in a primarily all-stock transaction. The combined company will be named Noble Corporation, and its shares will be listed on the New...
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Exxon targeting 75% Guyanese workforce for Yellowtail oil production vessel – report

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After eight years of operations offshore Guyana, ExxonMobil expects around 75% of the workforce on the giant Yellowtail Floating, Production, Storage and Offloading (FPSO) vessel will be Guyanese, starting from an initial 25%. This is according to the Environmental Impact...
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Authorities reviewing development plan for Guyana’s largest offshore project

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Guyana’s Minister of natural Resources (MNR), Vickram Bharrat, on Monday participated and delivered remarks at a virtual stakeholder meeting to officially commence the review of the Yellowtail Field Development Plan (FDP). ExxonMobil affiliate Esso Exploration & Production Guyana Limited (EEPGL)...
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Guyana seeking new EITI coordinator

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Guyana's Ministry of Natural Resources is seeking a National Coordinator for the Secretariat of its Extractive Industries Transparency Initiative (GYEITI) chapter. The incumbent National Coordinator is Dr. Rudy Jadoopat. Interested persons have until November 19 to apply. The appointment will follow...
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Ghana oil production will drop to around 146,500 bpd in 2022 – Platts

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Ghana's oil production is set to decline in 2022 as a result of coronavirus-related restrictions, which deferred work programs and other activities in 2020, the head of production at the country's state-owned oil company told S&P Global Platts. The West...
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SBM Offshore providing training opportunities for Guyanese to work on FPSOs

OilNOW -
SBM Offshore is providing the opportunity for Guyanese to be equipped with the skills and knowledge to work onboard Floating Production Storage and Offloading (FPSO) vessels operating offshore the South American country, through its Trainee Technician Programme. This aligns...
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Exxon gives back portion of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the...

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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