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Having one of the highest corporate income tax rates in the world among barriers to Suriname’s first offshore oil development – risk expert

OilNOW -
As Suriname awaits a final investment decision (FID) from TotalEnergies on the country’s first-ever oil development, an expert on risk says the fiscal part of this story has impeded the process.  Ford Tanner, Associate Director with the Exploration and Production...
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Stabroek Block profitable even if oil prices dropped by half 

OilNOW -
Guyana has become the bedrock of ExxonMobil’s post-COVID corporate revival, an Aug 1 piece by Bloomberg’s Kevin Crowley outlined.  The Texas oil giant is the operator with a 45% stake in the Stabroek Block, a vast oil field spanning 6.6...
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Equinor and ExxonMobil transfer Suriname oil block to Hess Corp.

OilNOW -
Equinor and ExxonMobil have transferred their stakes in a deepwater oil and gas exploration block off Suriname to Hess Corp, Reuters reported on Wednesday. This move signifies Equinor's exit from the South American country, aligning with its strategy to...
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T&T’s social programs at stake as energy sector revenues decline

OilNOW -
The Trinidad and Tobago (T&T) Extractive Industries Transparency Initiative (TTEITI) has projected that declining oil and gas revenues would negatively impact the country's social programs in the leadup to 2033. In a July 30 report titled ‘How Will the Decline...
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US political analyst says Harris VP pick is “very good for Guyana – excellent in fact”

OilNOW -
The buildup for finding out who U.S. Vice President Kamala Harris, the Democratic Party’s presumptive presidential nominee, would choose as her running mate in the 2024 election, is finally over; yesterday morning, the Harris campaign officially announced that Minnesota...
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Guyana: Exxon heading for biggest year with over 113 million barrels of oil already produced in just the first six months

OilNOW -
ExxonMobil Guyana achieved a milestone in the first half of 2024, producing approximately 113.5 million barrels of crude oil in just six months. This is almost equivalent to the 114.2 million barrels produced in the first nine months of...
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Saipem Guyana, Women Chamber to host vendor outreach event to boost diversity in local supply chain

OilNOW -
Saipem Guyana Inc. and the Women's Chamber of Commerce & Industry Guyana (WCCIG) are set to host a vendor outreach event on August 21, 2024, at the Centre for Local Business Development in Georgetown. The event, titled “Saipem Vendor...
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Petrobras advances natural gas exploration in Colombia with Uchuva-2 well

OilNOW -
Petrobras has reached a key milestone with the Uchuva-2 well, confirming the natural gas discovery initially made in 2022 with Uchuva-1.  Located 31 km offshore Colombia at a water depth of 804 meters, Uchuva-2 was spudded on June 19 and...
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Petrobras, GA Drilling collaborate to cut costs, mitigate risks in deepwater operations

OilNOW -
GA Drilling, a Slovakia-based deep drilling technology provider, has initiated a technical cooperation program with Brazil’s Petrobras. Along with Petrobras' Cenpes research, development, and innovation center, the partnership aims to revamp the downhole drilling system, reducing well construction costs...
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Liza was Exxon’s ‘well from hell’

OilNOW -
Liza, the now well off the coast of Guyana, earned the nickname "well from hell" during its drilling phase, as recounted by former ExxonMobil geoscientist Scott Dyksterhuis. Convinced there was a significant oil reserve more than three miles beneath...
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Letter-to-the-Editor: Strengthening Guyana’s oil spill response is a win for both the environment and the economy 

Dear Editor, The recent completion of the Oil Spill Response & Shoreline Cleanup Assessment Techniques Course and Incident Command System...

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