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ExxonMobil seeking ‘appropriate resolution’ as EPA threatens court action over fine

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Guyana’s Environmental Protection Agency (EPA) says it will be moving to the court soon as a result of ExxonMobil’s decision not to pay the fine imposed over hydraulic fluid spills that occurred earlier this year at the offshore Stabroek...
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Over 3 million bpd to be sanctioned in Guyana, Brazil even as industry takes a hit globally

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Oil projects off the coast of South America have lower breakeven prices and competitive payback times in comparison to similar projects in other parts of the world, which makes them more resilient in the current turbulent times, Norway-based Rystad...
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Complex crew change completed successfully for Liza Destiny FPSO

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UK-based ship management company, V.Ships, has supported SBM Offshore with a complex crew change for the Liza Destiny FPSO, relieving the last batch of 8 crew members. The Onsigners had arrived 2 weeks earlier, completed their quarantine ashore at Georgetown,...
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World’s largest offshore rig owner declares bankruptcy

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(Bloomberg) --Valaris Plc became the latest casualty of the global slump in oil prices, filing for bankruptcy Wednesday as the world’s largest offshore rig owner by fleet size seeks to restructure a roughly $7 billion debt load. The Chapter 11...
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U.S. considers expanding Venezuelan oil sanctions

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(Bloomberg) --The Trump administration is considering additional sanctions on Venezuela aimed at halting the remaining fuel transactions permitted with the South American nation, according to people familiar with the matter. The measures could target crude swaps with companies in Asia...
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The approach of Guyana’s new government in developing its multi-billion-barrel oil resources

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The newly installed government in Guyana says it is seeking to change the country’s approach to oil and gas by ensuring benefits to Guyanese from the offshore resources are maximized. Officials of the now two-week old administration have said...
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Guyana’s oil industry will not be run by a “lone wolf”- Natural Resources Minister

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Even though he is tasked with managing the day to day operations of Guyana’s oil industry, Minister of Natural Resources, Vickram Bharrat has been keen to note that the sector would not be run by “a lone wolf”.  During an...
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World’s biggest wealth fund wants ‘clarification’ on new CEO

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(Bloomberg) -- The world’s biggest wealth fund said it’s eager to get clarity on who will lead it, after a botched recruitment process to find a new chief executive triggered a political storm that’s still playing out. Norges Bank Investment...
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Payara review included in-depth assessment of eleven key areas

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Through the engagement of a specialist firm in December 2019, the in-depth review of the Field Development Plan (FDP), Environmental Impact Assessment (EIA) and supporting documents for the Payara development also included an assessment of eleven key areas of...
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Total sanctions third phase of Mero project in deepwater Brazil

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Total and its partners have taken the investment decision for the third phase of the Mero project (Libra block), located 180 kilometers off the coast of Rio de Janeiro, in the prolific pre-salt area of the Santos Basin in Brazil. The Mero 3...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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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