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Exxon donates GY$10 million towards flood relief efforts in Guyana

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President of ExxonMobil Guyana, Alistair Routledge on Wednesday handed over a cheque for GY$10 million (US$50,000) to the Civil Defence Commission (CDC) to support flood relief efforts across the country. CDC’s Director General Lieutenant Colonel Kester Craig received the cheque...
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Struggling Venezuela opened door to new South American oil province

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Political instability and economic turmoil in Venezuela have caused its economy and oil industry to collapse. The country’s highest-ever oil production occurred in 1998 at 3.5 million barrels per day (bpd), the same year that Hugo Chávez was elected...
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Suriname President confirms FID targeted for 2022, first oil by 2025

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President of Suriname, Chandrikapersad Santokhi confirmed on Tuesday that Total and partner Apache will move forward with their final investment decision at Block 58 next year and move towards first oil by 2025. This will make the offshore development...
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Suriname oil summit opens with focus on major offshore potential

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Suriname Energy Oil & Gas Summit 2021 virtual edition got underway on Tuesday with the South American country’s massive deepwater potential taking centre-stage in a series of presentations and discussions. The keynote address was delivered by President Chandrikapersad Santokhi, who...
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Last major U.S. oil company in Venezuela gets license renewal from Biden administration

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(Reuters) Chevron Corporation, the last major U.S. oil company still operating in Venezuela, received a new U.S. government license allowing it to remain in Venezuela until Dec. 1, the Treasury Department said on Tuesday. The United States beginning in 2019...
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Repsol sells exploration and production assets in Malaysia, Vietnam

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Repsol has agreed to sell its E&P assets in Malaysia and in Block 46 CN in Vietnam to a fully owned subsidiary of Hibiscus Petroleum, a publicly-traded company based in Kuala Lumpur. The sale of the company’s upstream assets in...
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Exxon pulls out of deepwater oil prospect in Ghana

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(Bloomberg) -- Exxon Mobil Corp. is pulling out of a deep-water oil prospect in Ghana just two years after the west African nation ratified an exploration and production agreement with the U.S. oil titan. The company relinquished the entirety of...
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Brent oil hits highest point since March

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(Reuters) Oil prices rose on Tuesday, with Brent hitting above $71 and trading at its highest since March, on expectations for growing fuel demand during the summer driving season in the United States as OPEC+ agreed to boost output. Brent...
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EIA submitted for Guyana’s first large-scale wind farm

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Hope Energy Development Inc. (HED) has submitted an Environmental Impact Assessment (EIA) for the construction and operation of the first large-scale wind farm in Guyana along the East Coast of Demerara. The Hope Wind Farm Project base-case scenario proposes the...
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Public engagements continue for project set to transform Guyana into world’s largest per capita oil producer

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Public consultations for the Yellowtail Development Project continue in Guyana with another virtual session set to take place on Wednesday, June 2. The public is being urged to participate in the process and submit comments for consideration in the...
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More Guyanese technicians graduate from FacTor training program 

SBM Offshore Guyana’s Trainee Technician program churned out another 24 Guyanese graduates, who are now one step closer to...

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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