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Baker Hughes brings efficiency to Guyana’s oil sector with opening of Supercenter

OilNOW -
Known worldwide for its advanced technologies, serving energy and industrial companies, Baker Hughes has brought top-tier oilfield services to Guyana with the opening of a Supercenter on the East Bank Corridor at Land of Canaan. A multi-million-dollar investment, the Supercenter...
News

Exxon hits first oil at second Guyana development

OilNOW -
ExxonMobil said on Friday it started production at Guyana’s second offshore oil development on the Stabroek Block, Liza Phase 2, bringing total production capacity to more than 340,000 barrels per day in only seven years since the country’s first...
News

ExxonMobil’s 2021 profits soar to US$23B; its largest in 7 years

OilNOW -
Exxon Mobil Corporation, the world’s largest refiner and marketer of petroleum products, disclosed on Tuesday that it has bounced back from a massive US$1.4B loss in 2020, recording a whopping US$23B in earnings for 2021. Importantly, this is the...
News

Oil drives Guyana’s export earnings to massive 68% increase

OilNOW -
At the end of 2021, Guyana's total export earnings amounted to US$4,352 million, 68 percent higher than the US$2,590 million earned in 2020. According to the country’s Finance Minister, Dr. Ashni Singh during his 2022 budget presentation on Wednesday,...
News

Exxon announces ambitious plans for net zero emissions by 2050

OilNOW -
ExxonMobil on Tuesday announced its ambition to achieve net zero greenhouse gas emissions for operated assets by 2050, backed by a comprehensive approach to develop detailed emission-reduction roadmaps for major facilities and assets. The net-zero ambition is contained in the...
Exploration

Guyanese inspectors will begin testing crude produced offshore from this month

OilNOW -
The South American country of Guyana has been striking oil in quick succession and building the capacity needed to manage the new industry in stride, with officers from the country’s standards bureau already carrying out monitoring activities on the...
Exploration

Guyana scores big again as Exxon hits two more discoveries

OilNOW -
ExxonMobil and the Government of Guyana on Wednesday announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was...
Exploration

Drilling in ‘super plays’ like Guyana will intensify this year – WoodMac

OilNOW -
Globally, deepwater will remain an exclusive sector with few operators, and oil majors will continue to dominate, accounting for 45% of planned deepwater drilling in 2022, particularly in ‘super plays’ like Guyana, Suriname and Brazil. According to new insight from...
News

Georgetown port now sees an average of 52 ships per week, up from 7 – Edghill

OilNOW -
The rapidly expanding oil and gas operations in Guyana continue to fuel significant commercial activities and authorities say the local content legislation passed this week will help to ensure Guyanese cash in big on these growing opportunities. “This bill guarantees...
News

Safe operations, multiple discoveries and big local spend mark outstanding year in Guyana for Exxon

OilNOW -
President of ExxonMobil Guyana Alistair Routledge says the company has had a safe year of operations in line with its commitment to “Nobody Gets Hurt”. Recalling the safety performance for the year, he disclosed that there were hundreds of...
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Oil Law 101Joanna Simmons -

The PAA Series: Management Themes (Part 6)

Management Themes (Part 5) introduced our discussions of matters pertaining to the development and production of a petroleum discovery....

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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