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BHP considering exiting oil and gas business in multibillion-dollar deal

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(Reuters) - Global miner BHP Group is considering getting out of oil and gas in a multibillion-dollar exit as it looks to speed up its retreat from fossil fuels, Bloomberg News reported on Tuesday, citing people familiar with the matter. The...
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Paris Agreement cannot be achieved without robust price on carbon – IMF Managing Director

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If the Paris Agreement’s goal of bringing global temperature to 1.5 to 2 degrees Celsius, then key steps have to be taken such as a robust price on carbon says Managing Director of the International Monetary Fund (IMF), Kristalina...
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“We are an equal opportunity employer with a very diverse workforce” – GYSBI

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The Guyana Shore base Inc. (GYSBI) the largest such facility providing support services to the offshore oil and gas operations in the country, said on Tuesday it is an equal opportunity employer with a diverse workforce and that no...
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Guyana’s massive Gas-to-Energy project will deliver more than just cheaper energy – Economist

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In addition to providing more affordable energy, the US$900 million Gas-to-Energy project being pursued by the Guyana government in partnership with ExxonMobil will also provide an avenue for the advancement of industrialization in the new oil producing country. This is...
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Investment firm predicts ‘soaring production volumes’ for Exxon in Guyana

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ExxonMobil boasts a bellwether status in the energy space and an optimal integrated capital structure that has historically produced industry-leading returns, says investment research firm Zacks in an analysis published on Nasdaq this week. “Management's track record of capex discipline...
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Head of Staatsolie encouraging Guyana to conduct basin opportunity upgrades

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Annand Jagesar, Managing Director of Suriname’s state oil company, Staatsolie Maatschappij Suriname, is encouraging Guyana to pursue basin opportunity upgrades by way of independent surveys that would provide authorities with a better understanding of the prospective resources of offshore...
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Oil prices take biggest one-day hit since March after OPEC+ agreed to boost output

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(Reuters) - Oil slumped more than $5 a barrel on Monday, headed for its worst day since March, after OPEC+ agreed to boost output, stoking fears of a surplus as rising COVID-19 infections in many countries threaten demand. Crude oil's...
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1 million barrels of Guyana oil could hit the market at height of global supply crunch

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The rapid increase in oil production offshore Guyana will perhaps be coming at one of the most opportune times in the boom-and-bust cycle of the industry as more experts agree that a major supply crunch is on its way...
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Guyanese company seeking EPA approval to set up oil well cement warehouse

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Toolsie Persaud Limited, a Guyanese family-owned business that has been in operation for over eight decades, is hoping to be a major supplier for ExxonMobil and other companies operating offshore the South American country. With the creation of its...
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Development operations continue for Exxon’s 3rd major project in Guyana

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ExxonMobil is continuing developmental operations at the Payara field located at the Stabroek Block offshore Guyana. Current operations are incorporating the use of the PSV Skandi Rona at an area situated approximately 112 nautical miles (207.42 kilometers) off the coast...
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Ali names 25-member cabinet; Vickram Bharrat back at oil ministry

President Irfaan Ali of Guyana unveiled 25 ministerial Cabinet appointees on Saturday evening, as the government embarks on its...

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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