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The missing US$21.2B at the centre of Venezuela’s latest corruption scandal

Shikema Dey -
Venezuela’s PDVSA is making headlines again. And not in a positive way.  Just when Venezuela’s oil industry appeared to be on the rebound, PDVSA has been hit with a major corruption scandal investigation, one that has seen its Energy Minister...
News

Former energy minister disagrees with IMF’s positive outlook for Trinidad economy

OilNOW -
Trinidad and Tobago's economy got a favourable outlook from the International Monetary Fund (IMF) for 2023, seen as a positive sign that it is slowly recovering after years of struggling.  But its former Minister of Energy, Kevin Ramnarine disagrees. “The International...
Exploration

Hess, Chevron and Shell looking to hit pay at Suriname well this year 

OilNOW -
Chief Executive Officer of Hess Corporation, John Hess, said one exploration well will be drilled this year in Block 42 offshore Suriname.  Hess, Chevron and Shell, the operator, are equal stakeholders in the Block which lies north of Block 58,...
News

TT to see gas in two years if negotiations go well with Venezuela – Young

OilNOW -
Trinidad and Tobago (TT) expects gas to start flowing from the Dragon field project in two years, once all goes well in negotiations with Venezuela, its Energy Minister, Stuart Young has said.  Young, according to Reuters, is due back in...
News

CARICOM should seek energy security within itself instead of PetroCaribe – Climate Adviser

Kemol King -
When it comes to the question of energy security with the Caribbean Community (CARICOM), Former Science Adviser with the Caribbean Climate Change Centre, Dr. Ulric Trotz, believes it would be better to pursue a ‘PetroCARICOM’ agreement rather than a...
News

Trinidad commissions country’s first low exhaust tug

OilNOW -
The National Energy Corporation of Trinidad and Tobago commissioned the country’s first low exhaust tug on Tuesday, during a ceremony at Hyatt Regency in Port of Spain.  The new 60-ton bollard-pull tug, named National Energy Resilience, is International Maritime Organisation...
News

First gas from TT Cascadura facility expected in June

OilNOW -
Trinidad and Tobago’s National Gas Company (NGC) is expected to receive first gas from the Cascadura natural gas and associated liquids facility on or about June 30, 2023, Touchstone Exploration announced. “Touchstone remains on track to complete the Cascadura facility...
News

Dutch FPSO builder focusing efforts on Guyana, Brazil markets

OilNOW -
Guyana and Brazil remain key to Dutch floater specialist, SBM Offshore. The company in its 2022 Annual Report outlined that it is taking a “disciplined and selective” approach to market opportunities, focusing on the main floating, production, storage and offloading...
Opinions

Guyana: Waiting for ICJ Decision, but also Investing in Security; Part 1

OilNOW -
By Ivelaw Lloyd Griffith – OilNOW This is the first of a two-part series on the ongoing territorial-judicial saga between Guyana and Venezuela. Here, we provide some recent developments on Guyana’s oil exploration and production landscape, which have increased the...
Exploration

T&T targeting shallow water bid round launch this quarter

OilNOW -
Trinidad and Tobago’s Ministry of Energy and Energy Industries (MEEI) will be launching a shallow water bid round, targeting over 23 blocks in its offshore acreage. MEEI featured a booth at Guyana’s International Energy Conference and Expo 2023 in Georgetown. The...
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Latest News

Guyana's Oil LedgerKemol King -

ExxonMobil Guyana produced 841,000 barrels of crude per day in October

ExxonMobil Guyana’s offshore oil production averaged 841,000 barrels per day (b/d) in October across the four producing Stabroek Block...

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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