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Maximising local participation in oil and gas discussed at first meeting of Guyana’s Presidents

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Guyana’s President Dr. Irfaan Ali on Tuesday met with three of the South American country’s former Presidents for a wide-ranging discussion on matters of national, regional, and international importance, chief among them being how the nation can maximise benefits...
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Operators pulling back oil and gas investments in Africa as world economy falters

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(GlobalData) The coronavirus pandemic and weak global economic outlook coupled with fragile energy demand has resulted in a decline in oil and gas prices. The all-pervasive nature of these circumstances has also impacted the African midstream sector, forcing several...
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Fugro awarded contract for positioning services in Guyana-Suriname basin

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Dutch engineering company Fugro has received a contract award from PETRONAS Suriname E&P B.V. (PSEPBV), a subsidiary of PETRONAS, for the provision of positioning services for an exploration programme in Block 52, off the coast of the capital Paramaribo...
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OPEC’s President says oil cartel cannot rush output increases, energy demand still fragile

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(Bloomberg) -- The President of OPEC reiterated that the oil producers’ cartel shouldn’t rush to increase output early next year and said energy demand was still fragile with the coronavirus raging across parts of the world. Algeria’s Energy Minister Abdelmajid...
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Multi-billion-dollar deepwater investments only moving forward under favourable conditions

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Of the 200 offshore oil and gas projects that are currently in the planning stage, around 120 of these are based on floating production storage and offloading (FPSO) systems and one expert believes that none of them will move...
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ExxonMobil unveils emission reduction plans, commits to no routine flaring by 2030

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ExxonMobil said on Monday it plans to further reduce greenhouse gas emissions over the next five years to support the goals of the Paris Agreement and anticipates meeting year-end 2020 reductions. The measures being implemented will see the elimination of routine flaring...
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Vaccination roll-out will not immediately reverse oil demand destruction, IEA warns

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The International Energy Agency (IEA) on Tuesday warned that the roll-out of the coronavirus vaccine will not have an immediate impact on the destruction on global demand for oil. “The understandable euphoria around the start of vaccination programmes partly explains...
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Guyanese HR firm servicing oil and gas industry gets ISO 9001 certification

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Strategic Recruitment Solutions Inc (SRSGY) a Guyanese company focused on providing Human Resource Management and Payroll Solutions, today announced it has earned ISO 9001:2015 certification for its quality management system. ISO 9001:2015 is a globally recognized quality management standard developed...
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CNOOC hits first oil at Penglai field

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CNOOC Limited announced Monday that Penglai 25-6 oilfield area 3 project has commenced production ahead of schedule. The Penglai 25-6 oilfield area 3 project is located in the south central Bohai Sea, with average water depth of about 27 meters. In...
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Need for technical skills such as advanced welding capabilities will increase in Guyana

OilNOW -
While the emphasis on degrees in engineering and geosciences is necessary as Guyana seeks to build capacity for the oil and gas sector, there will be a growing need for technical and other skills which one official with experience...
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The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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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