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Guyana planning “paced ramp-up in spending” for oil revenues

OilNOW -
New oil producer Guyana is keen on ensuring the windfall from its vast offshore hydrocarbon resources is spent in a manner that does not ‘overheat the economy’. "We are also mindful of the volatility inherent in petroleum revenues, as well...
News

ExxonMobil among big players set to participate in virtual O&G conference

OilNOW -
A high-powered lineup including oil and gas industry leaders, and officials from the Guyana and Barbados Governments will participate in the inaugural Caribbean Virtual Oil and Gas Summit (CARIVS) set for September 15-17, 2020. Guyana’s Minister of Natural Resources, Honourable...
News

Stabroek Block flaring 17 times lower than global average

OilNOW -
According to the World Bank Global Gas Flaring Tracker Report released in July this year, the global average for flaring stands at 8.49 billion cubic meters as of 2019. Russia, Iraq, the United States, Iran and Venezuela are the top five countries...
Regional

Energy giant bp granted 10-year extension on 92 licenses in Trinidad and Tobago

OilNOW -
Trinidad and Tobago’s largest hydrocarbon producer, bp, has been granted a 10-year extension on 92 of its exploration and production licences in the Columbus Basin. According to a report on CNC3, the twin island republic is expected to reap a...
News

Tullow still processing ‘heavy oil’ data from Guyana discoveries

OilNOW -
UK-based Tullow Oil said on Wednesday it is still processing data from the discoveries it made last year at the 1,800km2 Orinduik block offshore Guyana. The block partners had found oil at the Jethro-1 and...
News

Guyana Local Content Panel looking to begin consultations – Vickram Bharrat

OilNOW -
Guyana’s Minister of Natural Resources Vickram Bharrat said on Tuesday that the recently appointed Local Content Advisory Panel has already commenced work and will soon be holding consultations and workshops with the relevant stakeholders. He was at the time speaking...
News

Different terms for other blocks – Guyana Vice President reaffirms

OilNOW -
Speaking at a press conference on Monday, Guyana’s Vice President, Bharrat Jagdeo, reaffirmed the  government’s position on the Stabroek Block Production Sharing Agreement (PSA), noting that it will not seek to renegotiate the deal but will however, be looking...
News

Total drops operator role for five exploration blocks in Brazil

OilNOW -
French multinational oil and gas company Total said on Monday it had notified its partners on August 19 about its resignation from its role of operator for five exploration blocks, located in the Foz do Amazonas Basin, 120 kilometers offshore...
News

Saipem FDS 2 preparing seabed infrastructure for Liza Phase 2

OilNOW -
Italian multinational oilfield services company Saipem is in the process of executing pipelaying work with the Crane Ship Saipem FDS 2, for phase 2 of ExxonMobil’s Liza Development offshore the South American country of Guyana. The Saipem FDS 2 is...
News

New Guyana government looking to rebuild investor confidence after grueling 5-month elections ordeal – President Ali

OilNOW -
As a result of the electoral impasse which delayed the swearing-in of the new government in Guyana by five months, investor confidence and trust in the new oil producing country has been severely damaged according to its new President,...
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Latest News

NewsShikema Dey -

Kuwait, Qatar, other long-established producers now trail Guyana in per capita oil output

Countries with some of the world’s most mature petroleum industries now rank behind Guyana in per capita oil production,...

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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