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Brazil’s latest licensing round sets new record

OilNOW -
Speaking after Brazil's Licensing Round 16 on Thursday, Juliana Miguez, from Wood Mackenzie’s Latin America upstream, said the round has set a record – the BRL 8.9 billion (US$2.2 billion) - in signature bonuses, the highest yet for a...
Exploration

SBM close to deal with Chinese yard for FPSO hull

OilNOW -
Dutch floater specialist SBM Offshore could be close to an agreement with Chinese yard China Merchant Heavy Industry (CMHI) for construction of another new hull for a floating production, storage and offloading vessel (FPSO) under its Fast4Ward® design, according...
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Guyana President cautious on cash payouts, finance minister says proposal ‘doesn’t add up’

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Discussion in the South American country of Guyana on whether or not a portion of coming oil revenue should be transferred directly to households continues to take centre stage with the country’s president and finance minister, while not ruling...
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Guyana, Qatar to boost partnership in O&G, trade and education

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President of Guyana David Granger on Wednesday said that the South American country is keen on cooperating with Qatar not only on building oil and gas capacity but also on realising trade and education opportunities. The president was at the...
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Guyana is number 2 in the world for discovered resources to date in 2019 – Rystad Energy

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Oil continues to flow in the South American country of Guyana, where so far for 2019, the second most discovered resources have been made globally, with Russia topping the charts at number 1. Oil and gas companies have discovered 7.7...
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Avoid white elephants, bad spending and address the people’s needs – IMF urges Guyana

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Guyana, as a newcomer to the league of oil producing nations, is in a unique position to learn from and avoid the many mistakes which have been made by other resource-rich countries and to emulate best practices for effectively...
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Potential distress flare spotted by Bourbon Rhode searchers

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Bourbon Offshore said in an update Tuesday that following reports on Sunday by two seafarers on-board the Alp Striker of signals that they interpreted as potentially emanating from a distress flare, the vessel immediately set a course for the...
News

BP, Shell in joint bid for renewable energy project in Trinidad and Tobago

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BP Trinidad and Tobago LLC (BPTT) has submitted a bid to the country’s Ministry of Energy and Energy Industries (MEEI) for a commercial scale solar power project with partners, LightSource BP and Shell. In a news update published on October 4, Trinidad and...
News

Exxon awards contract for ‘biggest-ever private investment’ in Africa

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Exxon Mobil Corp. has awarded a contract to develop its Mozambique liquefied natural-gas project – said to be the biggest-ever private investment in Africa – to a JGC Corp.-led group, Bloomberg said in a report on Tuesday. Japanese company JGC...
News

ExxonMobil Guyana contract consistent with other countries – IMF Mission Chief

OilNOW -
International Monetary Fund (IMF) Mission Chief to Guyana, Dr. Arnold McIntyre, says there is nothing unusual about the Production Sharing Agreement (PSA) which the country has with ExxonMobil for the Stabroek Block, where more than 6 billion barrels of...
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Exxon hits 900,000 barrels of oil per day in Guyana as Yellowtail reaches full capacity

ExxonMobil Guyana today announced that the country’s daily oil production has reached a new milestone of 900,000 barrels per...

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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