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Oil industry needs to provide climate campaigners with hard economic facts – S&P Global

OilNOW -
Oil production is driven by demand – in large part from people and economies in the developing world. US-based S&P Global said in an October 31 report that instead of running away when confronted by climate change activists, it...
Exploration

Energy Department sees potential for 5th drillship operating at Stabroek block

OilNOW -
Director of Guyana’s Department of Energy, Dr. Mark Bynoe, says potential exist for a 5th drillship to be operating at the 6.6 million acres Stabroek Block where US oil major ExxonMobil has made a record 14 oil discoveries since...
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Guyanese women looking to take up leadership roles in oil and gas

OilNOW -
A group of women in Guyana is intent on forging a pathway that leads to playing a major role in the South American country’s emerging oil and gas industry, and they are pulling out all the stops. "We want to...
News

Hundreds flock to oil and gas job fair in Guyana as industry preps for take off

OilNOW -
Hundreds of Guyanese flocked to a job fair on Thursday organized by El Dorado Offshore (EDO), one of the companies in the South American country providing human resource services to the emerging oil and gas industry. The event, the second...
News

SBM Offshore secures contracts for 3rd Guyana FPSO

OilNOW -
SBM Offshore said on Thursday ExxonMobil Guyana has awarded the Company contracts to perform Front End Engineering and Design (FEED) for the Floating Production, Storage and Offloading vessel (FPSO) for the Payara development project located in the Stabroek block...
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ExxonMobil is no ‘bad guy’ – Guyana set to get half the profits – Persaud

OilNOW -
The Production Sharing Agreement (PSA) between the South American country of Guyana and ExxonMobil will see the government earning half the revenue from profit oil and 2 percent royalty, which is applicable from day one of production, now set...
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Liza Unity hull 85 percent complete

OilNOW -
The hull for the Liza Unity FPSO – Guyana’s second oil production complex – is now 85% complete as work on the 220,000 barrels per day vessel that will be producing oil from the Liza Phase 2 Development project...
News

Approval of Payara development expected by Q1 2020

OilNOW -
Final Investment Decision on ExxonMobil’s third development project offshore the South American country of Guyana is expected by Q1 2020 as authorities move to embark on a third-party review of the Field Development Plan. Sanctioning of the Payara development...
News

Brazil oil auction a ‘total disaster’ as bidders stay away

OilNOW -
(Bloomberg) Brazil’s largest-ever auction of oil deposits flopped, sending the real tumbling, after state-controlled Petroleo Brasileiro SA did most of the bidding while other major oil companies stayed away. Petrobras, as the company is known, joined with China’s Cnooc Ltd....
Exploration

Guyana to place 3rd party verifier on FPSO for crude lifts

OilNOW -
Guyana's Crude Lifting Agreement is expected to be completed over the coming week. The agreement, which came out of a model designed by the Association of International Petroleum Negotiators (AIPN) in 2001, speaks to the specific lifts that the four...
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Guyana’s four FPSOs set a new pace for deep-water oil development

The four floating production, storage and offloading vessels operating in the Stabroek Block have become the backbone of Guyana’s...

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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