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Recovery of up to 1 million bpd of oil at risk due to vaccination hiccups

OilNOW -
The vaccine distribution cycle was not expected to be perfect, but the recent spike in cases in Europe, which some are calling the third wave, is not being met with a brigade of vaccines, but with vaccine skepticism instead....
News

Higher living standards must be delivered to the Guyanese people in shortest period of time – Vice President

OilNOW -
As of March 10, Guyana’s Natural Resources Fund (NRF), the country’s Sovereign Wealth Fund in which all oil revenues are being deposited, had a balance of US$267,668, 709.12. This amount represents every cent earned from oil lifts and royalties...
News

High cost of finance and issues with accessibility must be addressed as Guyana economy takes off

OilNOW -
New businesses are being established in Guyana and existing organisations are adjusting and realigning the services they are providing to better meet the needs of the growing oil and gas industry. However, many continue to face challenges with accessing...
News

After seizing assets from Exxon & ConocoPhillips, Maduro now says Venezuela open to oil investments

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(Bloomberg) --Inside a chic lounge, oil lobbyists and executives rub shoulders as Spanish, French and Italian can be heard in the halls. This isn’t the ZaZa boutique hotel in Houston, where global energy top brass like to stay. It’s...
News

Siemens awarded EPC contract for South America FPSO

OilNOW -
Siemens Energy said Friday it was awarded a topside EPC contract by MISC Berhad for eight complete topside modules that will provide sustainable, efficient, and environmentally friendly power generation, transmission, and distribution, as well as gas processing and compression...
News

Infrastructure to support Guyana oil industry being aggressively pursued, official tells summit

OilNOW -
While Guyana’s offshore oil and gas industry rapidly expands, infrastructure will have to be developed onshore to support the activities in the industry. Participants at the Guyana Basins Summit were told this week that the Guyana government is pursuing...
News

Guyanese taxpayers will have to foot the bill for any inefficiencies triggered by local content rules – Floyd Haynes

OilNOW -
Forcing oil and gas companies to utilise local firms that do not yet possess the necessary skills and capacity will cost Guyana in the long run. Professor and Member of the country’s Local Content Panel, Floyd Haynes, recently shared...
News

Trinidad LNG industry in decline as Guyana eyes pipeline, regional export potential

OilNOW -
Trinidad and Tobago (TT) is one of the region’s largest producers and suppliers of Liquified Natural Gas (LNG), however, the twin-island republic has been experiencing a steady decline over the years. Now, analysts are reporting a more worrying future...
News

Gas pipeline will bring major economic, environmental and social benefits to Guyana – Ramnarine

OilNOW -
When the new administration in Guyana announced last year that it was moving ahead with the planned gas-to-shore project that would be underpinned by the Liza Phase 1 Development at the Stabroek Block, some stakeholders asked - can it...
Exploration

Oil remains biggest prize as 2021 set to see lowest number of wells targeting gas in a decade – Westwood Energy

OilNOW -
Even though the world is witnessing an unprecedented increase in efforts to transition to cleaner sources of energy starting with natural gas, there is still very little evidence of explorers going after this resource for 2021. This is according...
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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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