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Read the Payara Production License

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The Government of Guyana and ExxonMobil on Wednesday signed the license for the Payara field offshore development in Guyana. The Payara project approval was a result of several reviews and consultations by local and international experts…License Details
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Guyana approves ExxonMobil’s 220,000 bpd Payara Development, company moves to FID

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The Guyana Government on Wednesday announced the approval of the 220,000 bpd Payara Development - ExxonMobil’s third project offshore the South American country, paving the way for the company’s Final Investment Decision (FID). The $9 billion development, targeted for start-up...
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Venezuela’s foreign currency income tumbles 99% as oil exports dry up

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Sanctions imposed by the United States have had a debilitating impact on Venezuela’s crude exports from which the country got most of its foreign currency revenues. Citing the impact of this on the economy, President Nicolás Maduro tweeted on Wednesday...
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Shell to cut up to 9,000 jobs in low-carbon transition

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(Reuters) - Royal Dutch Shell announced on Wednesday plans to cut up to 9,000 jobs, or over 10% of its workforce, as part of a major overhaul to shift the oil and gas giant to low-carbon energy. Shell, which had...
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Preparing Guyanese women for opportunities in oil and gas a top priority for local NGO

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Guyanese Non-Governmental Organization (NGO), Women in Oil and Gas, is seeking to change age-old stereotypes about the way women are perceived as to their readiness and suitability for technical fields, including those in the petroleum sector. So says Dr. Dawn...
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Local content requirements must be flexible, realistic – Angele Ramsaransing-Karg

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Countries which lack the necessary skills and experience in the oil and gas industry run the risk of slowing down development of their petroleum resources if local content requirements are not realistic and lack flexibility. So says Angele Ramsaransing-Karg, Manager...
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Venezuela buying fuel from Iran with plane loads of gold

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Venezuela has reportedly obtained fuel from Iran in return for plane loads of gold, according to comments which have been attributed to Iranian Chief Commander of the Islamic Revolutionary Guard Corps (IRGC), Yahya Safavi. The Middle East Monitor (MEM) quotes...
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Keppel reviewing offshore business, plans to sell between S$3-5 billion of assets

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Keppel Corporation Limited (Keppel) said Tuesday it plans to unlock value from S$3-5 billion of assets over the next 3 years as part of a strategic review of its offshore and marine business. Keppel affiliate, Keppel Shipyard Ltd., has been...
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Oil falls as virus count mounts, U.S. debate looms

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(Reuters) - Oil prices fell on Tuesday as Europe and the United States grappled with a surge in new coronavirus infections and investors were cautious ahead of the first U.S. presidential debate. Brent's November contract, which expires on Wednesday, fell...
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Guyana oil revenue will more than double T&T’s and quadruple Suriname’s – Rystad Energy

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The South American country of Guyana is on course to receive the highest estimated total income from its multi-billion-barrel oil and gas resources when compared to both Suriname and Trinidad and Tobago (T&T), under various oil price scenarios. This...
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Guyana oil production could edge closer to one million barrels per day by year-end

ExxonMobil Guyana expects production from the Stabroek Block to climb sharply before the end of 2025, driven by the...

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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