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Guyana on its way to cashing in over half billion US dollars in oil revenue by year-end

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Guyana, now in its second year as an oil producing nation, could see revenues from royalties and the sale of its Liza Crude surpassing the US$500 million mark by the end of the year. The country has already exported a...
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Exxon strikes oil at Longtail-3 in new Guyana discovery

OilNOW -
ExxonMobil today said it made a discovery at Longtail-3 in the Stabroek Block offshore Guyana. Drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery...
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Saipem opens offshore construction facility in Guyana

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Italian multinational oilfield services company Saipem on Saturday opened an offshore construction facility in Guyana after noting the need for fabrication services in the country’s booming oil industry. It has so far been granted three large-scale engineering, procurement, construction,...
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Guyana pays more than its fair share to lower global temperature – Vice President

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Guyana’s Vice President, Dr. Bharrat Jagdeo is of the view that the South American country has already met net-zero status in the global efforts to reduce emissions. “In Guyana’s case, because of our huge forest, we are already at net-zero…because...
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Carbon pricing initiatives generate US$53B; now apply to over a fifth of global GHG – World Bank

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Based on the World Bank’s latest statistics, carbon pricing appears to be gaining more acceptance and is proving to be a cost-effective policy tool in combating climate change. According to the financial institution’s latest report called State and Trends of...
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Struggling Venezuela opened door to new South American oil province

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Political instability and economic turmoil in Venezuela have caused its economy and oil industry to collapse. The country’s highest-ever oil production occurred in 1998 at 3.5 million barrels per day (bpd), the same year that Hugo Chávez was elected...
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Suriname President confirms FID targeted for 2022, first oil by 2025

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President of Suriname, Chandrikapersad Santokhi confirmed on Tuesday that Total and partner Apache will move forward with their final investment decision at Block 58 next year and move towards first oil by 2025. This will make the offshore development...
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Equinor, Exxon and partners sanction US$8 billion project in Brazil

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Equinor (operator) and ExxonMobil, Petrogal Brasil and Pré-sal Petróleo SA (PPSA) have decided to develop phase one of the Bacalhau field in the Brazilian pre-salt Santos area. The investment is approximately 8 billion USD. “This is an exciting day. Bacalhau...
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Guyana regulators internationally trained to measure crude lifts

OilNOW -
Guyana’s multi-billion-barrel hydrocarbon discoveries and the start of oil production operations have seen institutions playing catch up to monitor and regulate a sector that was practically non-existent prior to the 2015 world class Liza oil strike by ExxonMobil. Key to...
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CNOOC enjoying rare success on global stage with Guyana oil finds

OilNOW -
China National Offshore Oil Corporation (CNOOC), one of the largest National Oil Companies (NOC) in China, is enjoying rare success on the global stage, with a 25% stake in the multi-billion-barrel Stabroek Block offshore Guyana. The NOC has interest in...
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Spain-bound tanker departs Guyana with second Yellowtail cargo – OilX

The Nordic Zenith tanker has departed ExxonMobil Guyana’s ONE GUYANA floating production vessel with the second cargo of crude...

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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