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Ali wants oil revenue to help close gap between haves and have nots, will he succeed?

OilNOW -
Since gaining its independence from the British in 1966, Guyana has struggled to embark on a path of sustained economic growth that served to elevate living standards for its people, despite being endowed with significant natural resources, even before...
News

All systems being put in place for hook-up of world’s first Fast4Ward® FPSO

OilNOW -
All systems are being put in place for Guyana’s second oil production vessel which will depart Singapore in June for the South American nation. The Liza Unity floating production storage and offloading (FPSO) unit will have double the capacity...
News

Exxon expects ‘continued and steady progress’ in Guyana’s multi-billion-barrel basin

OilNOW -
As the global oil and gas industry continues to recover from the impact of the pandemic, ExxonMobil has reported that its production volumes are rising from 2020 levels, and for the first quarter of this year, output at the...
News

Suriname official encourages collaboration in oil spill prevention and response

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As oil and gas operations offshore Guyana and Suriname intensify in the Guyana-Suriname Basin, the importance of collaboration between the two countries in preventing and responding to oil spills has been emphasised by Suriname’s Minister of Natural Resources, David...
News

Guyana will be looking to sell oil blocks to highest bidders, country could retain some acreage

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Guyana’s President Dr. Irfaan Ali confirmed this week that an entirely new system for the allocation of oil blocks will soon be used, signaling the government will move away from direct one-on-one negotiations with International Oil Companies (IOC) and...
News

Talks on ‘Arco Norte’ energy corridor to advance later this year – President Ali

OilNOW -
The Governments of Guyana, Northern Brazil, Suriname, and French Guiana are due for a meeting later this year on the planned regional energy corridor. Guyana’s President, Dr. Irfaan Ali made the disclosure during a press conference on Wednesday. The planned...
News

Hess reports US$252 million net income for Q1 2021, says Guyana projects remain on schedule

OilNOW -
Hess Corporation which holds a 30 percent stake in the Stabroek Block offshore Guyana reported on Wednesday a net income of of US$252 million for the first quarter of 2021. Turning its attention to operations at the Stabroek Block, the...
News

Disputes over tax, contract terms see Uganda struggling to reach first oil since major discoveries in 2006

OilNOW -
Uganda's long-delayed maiden oil project took a vital step to becoming more than a pipe dream this month but risks still hang over hopes of new export flows from East Africa, S&P Global Platts said in a report on...
News

Graduate Engineers eager to begin overseas training on massive Prosperity oil production vessel

OilNOW -
Dutch floater specialist SBM Offshore is forging ahead with expanding its local workforce in Guyana where it is currently operating one oil production vessel with two more under construction for developments offshore the South American country. The Liza Destiny Floating...
Production

Guyana will become just the 11th nation in history to reach million barrel a day milestone – WoodMac

OilNOW -
Updated April 25, 2021 UK-based global energy consulting group Wood Mackenzie says Guyana is in a unique position as the world’s newest major oil producer. Other oil- and gas-dependent producers are contemplating the threat posed by the energy transition to...
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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