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Saipem gets US$900 million contract for work offshore Norway, Brazil

OilNOW -
Saipem said it has been awarded two offshore contracts for a total amount of approximately US$900 million. The first contract was awarded by TotalEnergies for work offshore Brazil on the LAPA Southwest (LAPA SW) Development Project, a deepwater oil field...
News

Bayphase, Stratoil Energy shortlisted to bid for review of Exxon’s Uaru project

OilNOW -
Guyana’s Ministry of Natural Resources has shortlisted Bayphase and Stratoil to vie for the contract to evaluate the field development plan (FDP) for ExxonMobil’s fifth Stabroek Block project – Uaru. Initially, the list had stood at three, but De Godhyer...
News

World oil demand to hit record levels as China reopens – IEA

Shikema Dey -
Two wild cards dominate the 2023 oil market outlook: Russia and China. According to the International Energy Agency’s oil market report for January, 2023 could see oil demand rise by 1.9 million barrels per day (mb/d) to hit 101.7 mb/d...
News

Guyana, Suriname bid rounds ‘creating buzz’ in global oil industry – WoodMac

Shikema Dey -
Global Analytical Group, Wood Mackenzie said it expects low-key, direct negotiations rather than a proliferation of high-profile licensing rounds as countries look to accelerate their oil and gas potential. But even with that said, WoodMac noted that several licensing rounds...
News

Guyana invites India, and China to grab up oil blocks in ongoing licensing round

OilNOW -
India and China – two of Guyana’s biggest and longest development partners have been invited to throw in bids in the South American nation’s ongoing 2022 licensing round. A total of 14 deepwater and shallow-water blocks are up for grabs...
News

TechnipFMC gets EPCI contract for Norwegian field from Wintershall Dea

OilNOW -
TechnipFMC said it has been awarded a significant engineering, procurement, construction, and installation contract by Wintershall Dea Norge AS for its Dvalin North project. TechnipFMC considers a contract significant when it is between US$75 million and US$250 million. The contract covers...
News

Exxon seeking firm to analyse Guyana crude oil sales data

OilNOW -
ExxonMobil Guyana is looking to hire a firm to provide data analysis services for crude oil sales. A public Request For Information (RFI) said that Esso Exploration and Production Guyana Limited (EEPGL) is looking to identify suppliers who can collate...
Opinions

Geopolitics of Oil: the case of Venezuela and lessons for Guyana

OilNOW -
By Joel Bhagwandin – OilNOW Over the past two decades, Venezuela has changed to become a problematic country from an investment perspective. Venezuela’s political and economic history supports the assertion that Venezuela has and continues to be a risky place...
News

Guyana Oil & Gas: What to look forward to in 2023

Kemol King -
Every new year in the development of Guyana’s oil and gas sector has arguably been bigger than the one before it. With new project start-ups, increasing oil production, and more revenues to the country, 2023 is tipped to continue...
News

Guyana goes after unnecessary red tape with contract for new trade single window

OilNOW -
Guyana’s Central Housing and Planning Authority (CH&PA) has issued a GY$202.9 million (approx. US$973,000) contract to Global Services Inc. for the establishment of a new trade single window.  The electronic platform will enable CH&PA to act as the sole point...
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Latest News

NewsShikema Dey -

Chevron’s entry strengthens Guyana oil sector despite Venezuela ties – Rystad Energy  

Chevron’s entry into Guyana’s Stabroek Block will not disrupt ongoing operations, according to Schreiner Parker, Partner and Head of...

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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