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Boosting capacity crucial to Guyana’s management of oil & gas sector – World Bank

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Recognising that Guyana’s institutional capacity to oversee and manage the Oil and Gas sector “is limited in the various relevant government ministries, commissions and other departments” the World Bank says enhancing this capability is crucial if the South American...
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Right-wing party wins power in Canada’s oil region, attacks Trudeau on environment

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(Reuters) - A right-of-center party swept to power in Canada’s main oil-producing province of Alberta on Tuesday and attacked Prime Minister Justin Trudeau’s efforts to fight climate change, raising tension just months ahead of a federal election. The United Conservative...
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Exxon adds 2.6 million acres to Argentina upstream holdings

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ExxonMobil has increased holdings in Argentina after its subsidiary ExxonMobil Argentina Offshore Investments B.V. and an affiliate of Qatar Petroleum won three exploration blocks during Argentina’s first offshore bid round. The award adds approximately 2.6 million net acres to its...
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Liza world class returns puts it on par with the best Brazil pre-salt has to offer – WoodMac

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Industry analyst Wood Mackenzie says the Liza Complex in Guyana is one of the largest and best deepwater projects in the world and is playing a key role in the exploration frenzy unfolding on the South American continent. “A winning...
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Oil slips to $71, hit by talk of higher OPEC+ production

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(Reuters) - Brent oil slipped to around $71 a barrel on Tuesday, pressured by expectations of higher U.S. inventories and concern about Russia’s willingness to stick with OPEC-led supply cuts. Analysts on average expect U.S. crude stockpiles to have risen...
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Nigeria oil minister says Exxon not leaving

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Reports that US oil major ExxonMobil was mulling the sale 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 are untrue,...
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New milestone at Stabroek as first subsea tree installed

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The Liza Phase 1 Development has reached another incredible milestone—installation of the first subsea tree. A subsea tree monitors and controls the production of a subsea well. Affixed to the wellhead of a completed well, it can also manage fluids...
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100% Guyanese workforce preps Saipem shore base for first shipment of pipes offshore

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The first shipment of pipes for the Liza field to be loaded directly from the Saipem shore base facility, sitting on the eastern bank of the Demerara River in Georgetown, took place over the weekend, marking a significant step...
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Juan Guaido: Why China should switch sides in Venezuela

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(Bloomberg) China is the world's largest oil importer and Venezuela has the largest proven oil reserves in the world. For those two reasons alone, the economic relationship between our nations will inevitably grow. In fact, we hope for even...
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FID and key terms in O&G industry

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FID is the Final investment decision to invest in a project, typically made by the board and executive committee of oil companies. At this point, major risks have been mitigated and concerns addressed. The project then moves to execution,...
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Tourism minister calls for cultural shift, stronger service standards to power Guyana’s next economic phase

Tourism, Industry, and Commerce Minister Susan Rodrigues has called for a national cultural transformation to align with Guyana’s rapid...

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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