Showing results for:

News

Stabroek PSA delivers US$1.4 billion in profit oil, US$218 million in royalties, helps boost Guyana’s budget allocations

OilNOW -
Guyana's Natural Resource Fund (NRF) received a substantial sum of US$1.6 billion in royalties and profit oil revenues for the year 2023, as reported by Senior Minister with responsibility for Finance and the Public Service, Dr. Ashni Singh. This...
News

U.S. imports first cargo of Guyana’s Payara Gold crude

OilNOW -
The United States of America has imported a cargo of Payara Gold crude for the first time, according to data from U.S. Customs and S&P Global Commodity Insights. The one-million-barrel cargo, shipped by China's CNOOC and consigned to ExxonMobil,...
News

2023 saw Guyana’s total oil output at 142.9 million barrels – Finance Minister

OilNOW -
Guyana produced 142.9 million barrels of oil from the ExxonMobil-operated Stabroek Block in 2023, reported its Finance Minister, Dr. Ashni Singh. This tops 101.3 million barrels produced in 2022. Singh, presenting the third oil fund-backed national budget shared that Guyana’s...
News

OilNOW’s top stories of 2023

OilNOW -
Here are the stories that you, the readers, were most interested in, last year: January: Exxon strikes more oil at Fangtooth well offshore Guyana The first discovery made offshore Guyana in 2023 was at Fangtooth Southeast, an appraisal well that indicated...
News

Major oil and gas milestones in Guyana: A look back at 2023

OilNOW -
While the exploration success carried less momentum, Guyana’s oil and gas sector hit several milestones in 2023. Let’s look back at a few of those in no particular order.  Starting with discoveries…  In January, Hess announced the Fangtooth SE-1 discovery, revealing...
Opinions

Gas to Energy Project – the most transformational project in Guyana’s history

OilNOW -
By Cristina Caus - OilNOW The Gas-to-Energy project is an embodiment of Guyana’s mission to transform its historically underperforming economy, now one of the fastest growing, into a world-class and competitive environment. The GtE project represents one of the largest...
News

SBM Offshore raises US$210 million revolving credit facility to finance its Fast4Ward hulls

OilNOW -
SBM Offshore has secured a US$210 million revolving credit facility (RCF) to finance the construction of Fast4Ward® Multi-Purpose Floater (MPF) hulls, the company said in December 15 release.  The tenor of the RCF is eighteen months with an extension option...
News

Keel-laying done for SBM Offshore’s fifth Fast4Ward vessel

OilNOW -
Shanghai Waigaoqiao Shipbuilding (SWS) has reportedly completed the keel-laying process for the fifth Fast4Ward floating production, storage, and offloading (FPSO) hull, just seven months shy of the initial steel cutting for the vessel. The FPSO was constructed based on SBM...
News

IMF predicts Guyana oil fund to hit US$11 billion by 2028  

OilNOW -
The International Monetary Fund (IMF) has released its latest report on Guyana's economic outlook, projecting the country's oil revenues to soar to a staggering US$11 billion (GY$2.3 trillion) by 2028. This estimate is derived from royalties and profit oil...
News

Guyana crude blends capture bigger chunk of European market this year

OilNOW -
Driven by increased production by an ExxonMobil-led consortium operating off of its coast, and strong demand for light sweet crude grades, the South American country of Guyana has gained a larger share of Europe's oil market this year. Guyana's crude...
1...373839...55Page 38 of 55

Latest News

OpinionsOilNOW -

Letter-to-the-Editor: Empowering Guyanese youth in the offshore energy ector

Dear Editor, As a recent graduate of the University of Guyana, I've been reflecting on the future that lies ahead...

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.

Quick Access

Company Info

Social Networks