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Country with largest oil reserves now forced to ration electricity

OilNOW -
The South American country of Venezuela, which holds the world’s largest oil reserves, is low on energy, with widespread blackouts and new plans to ration electricity. Venezuelan President Nicolás Maduro announced on Sunday that his country will ration electricity, a...
News

Exxon mulls sale of Nigerian O&G fields as company focuses on Guyana, Permian

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US oil major ExxonMobil is weighing the sale of a suite of oil and gas fields in Nigeria for up to $3 billion as the company focuses on Guyana’s Stabroek Block and investments in the US Permian Basin, Reuters...
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Saudi Aramco’s 2018 profit = Apple + Google + ExxonMobil

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Saudi Aramco was the world’s most profitable company in 2018, according to an extract of the oil producer’s accounts published by Moody’s Investors Service, Bloomberg reports. The company, Bloomberg said, is preparing to raise debt in part to pay for the acquisition...
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Better packaging, labeling emerge at UncappeD Marketplace

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- ExxonMobil Guyana says support for small enterprise will continue  The third edition of the Guyana Manufacturing and Services Association’s (GMSA) UncappeD Marketplace – an event being held to promote agro-processors in Guyana - saw significant improvements being made in...
News

Oil and Gas for school curriculum – Guyana’s Minister of Education

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Guyana’s Minister of Education Nicolette Henry said that her ministry is planning to introduce oil and gas into the school curriculum to ensure that the country is prepared for its new economic realities. Speaking with Raj Kumar, President and Editor-in-Chief...
News

Oversight Committee for Guyana petroleum wealth fund being set up

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Guyana’s Ministry of Finance is in the process of putting together the Public Accountability and Oversight Committee of the Natural Resource Fund being set up to manage billions of dollars expected from oil production. The Natural Resource Fund bill was...
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Guyana’s maritime legislation for O&G upgrade

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Authorities in Guyana are looking to update the country’s maritime legislation in the context of the emerging oil and gas industry. This is according to Minister of Public Infrastructure, David Patterson, speaking at a one-day Maritime conference held at the...
News

EPA targeting mid-year completion for oil spill response plan

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Guyana’s Environmental Protection Agency (EPA) is working towards completing the country’s National Oil Spill Response plan by June, ahead of first oil from the Liza Phase 1 Development project. EPA Director, Kemraj Parsram says “tremendous progress” has been made over...
News

Our main focus is to deliver on our promise of large oil deposits in Guyana – Gil Holzman

OilNOW -
Eco Atlantic Oil & Gas has been making some major announcements about potential multli-billion-barrel deposits at its Orinduik block offshore the South American country of Guyana. CEO, Gil Holzman told Vox Markets in an interview on Tuesday that the...
Exploration

Offshore drilling making comeback with low-cost targets like Stabroek

OilNOW -
Producing 120,000 barrels of oil per day from the Permian basin would require a $12.8 billion investment while hitting the same volume from Guyana’s Stabroek Block require just $3.7 billion for the first phase of the Liza Development project. John...
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Guyana and Suriname leaders advance talks on trade, energy, and connectivity at high-level meeting

Joint Statement - Meeting Between Jennifer Geerlings- Simons, President of the Republic of Suriname and Dr. Mohamed Irfaan Ali,...

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