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Oil headed for weekly fall

OilNOW -
(Reuters) - Oil prices extended losses on Friday, and were headed for a weekly fall, as the prospect of extra supply from Iran returning to the market eclipsed fears of a possible supply disruption arising from a Russian invasion...
Exploration

Guyana’s oil story not confined to deepwater, explorers looking inland – Bharrat

OilNOW -
The flurry of activity in Guyana’s prolific Stabroek Block and more recently, the Corentyne Block has sparked renewed interest in the onshore Takatu Basin, Minister of Natural Resources Vickram Bharrat disclosed on Wednesday. Explorers have had an interest in Guyana’s...
News

Overheating economy with oil money a fair concern; but we can manage it – Vice President

OilNOW -
When the Guyana government made provisions in the new Natural Resource Fund (NRF) Act 2021 which allowed for 100 percent of the $126B balance of the account to be transferred to the Consolidated Fund to support budget 2022, there...
News

‘One Guyana’ will deliver biggest daily production for new oil nation

OilNOW -
Pegged at a massive 250,000 barrels of oil per day, the floating production storage and offloading (FPSO) vessel for ExxonMobil’s fourth project at Stabroek Block has been named One Guyana and will join its sister vessels Liza Unity, Liza...
News

“Team of teams” delivered Guyana’s biggest oil production project to date

OilNOW -
Record pace. These are the words being used to describe U.S. oil major ExxonMobil’s operations in Guyana where it has made over 25 discoveries since 2015 at the Stabroek Block, delivering over 10 billion barrels of oil equivalent and...
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

Bayphase Ltd. wins contract to review FDP for Exxon’s US$9 billion Yellowtail project

OilNOW -
With the second-lowest bid totalling US$423,360, Bayphase Ltd. which is headquartered in the United Kingdom has successfully beaten more than 10 companies for the contract to review the Field Development Plan (FDP) for ExxonMobil's fourth project in Guyana, Yellowtail. This...
News

Audit of Exxon’s post-2017 costs in Guyana will move forward – oil minister

OilNOW -
Minister of Natural Resources Vickram Bharrat has confirmed that the Government of Guyana is continuing its search for auditors to examine ExxonMobil’s 2018-2020 costs. In his written responses to questions relating to the audit, Mr. Bharrat told the National Assembly...
News

Contract for Yellowtail FDP review attracts companies from across the world

OilNOW -
Guyana’s National Procurement and Tender Administration Board (NPTAB) on Thursday received technical and financial proposals from around 12 companies from across the world, including one local firm, for the review and evaluation of the Field Development Plan (FDP) for...
Opinions

Will these pillars support Guyana’s oil industry?

OilNOW -
By Dr. Lorraine Sobers - OilNOW Guyana is the steward of astounding natural resources, luscious rainforest, gold, diamond, bauxite and hydrocarbon deposits. The industries built on these natural resources all have environmental and stewardship challenges. The excitement of Guyana’s oil...
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Latest News

Stories Beyond the BarrelShikema Dey -

Kavita Khan: Driving finance in Guyana’s oil sector

For Senior Accountant Kavita Khan, TechnipFMC first caught her attention through a presentation. “One of the managers… was going...

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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