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Monday, March 1, 2021

Latest News

South American basin with abundant oil resources giving rise to fierce competition

Some are calling it the last major hydrocarbon frontier while others see it as the Holy Grail of oil and gas. The Guyana Suriname...

Crude oil futures surge, ICE Brent May contract up almost 2%

(S&P Global Platts) Crude oil futures surged during the mid-morning trade in Asia March 1, with the oil market reversing the previous session's losses...

Rivalry in the Guyana Suriname Basin, the Holy Grail of oil & gas

By Anthony T. Bryan – OilNOW From Trinidad and Tobago (T&T) it is about one hour flying time south to Georgetown the capital of the...

Letter-to-the-Editor: No matter the price of oil, Guyana will receive a lot of revenue

There is a Letter to the Editor published in Sunday’s Stabroek News under the headline, “Guyana is losing US$35B by failing to negotiate a...

Experts set to discuss Guyana’s gas to power project in OilNOW TV Sunday premiere

A panel discussion on Guyana’s planned gas to power project will premiere on OilNOW TV this evening as part of a series focusing on...

Trending

South American basin with abundant oil resources giving rise to fierce competition

Some are calling it the last major hydrocarbon frontier while others see it as the Holy Grail of oil and gas. The Guyana Suriname...

Crude oil futures surge, ICE Brent May contract up almost 2%

(S&P Global Platts) Crude oil futures surged during the mid-morning trade in Asia March 1, with the oil market reversing the previous session's losses...

Rivalry in the Guyana Suriname Basin, the Holy Grail of oil & gas

By Anthony T. Bryan – OilNOW From Trinidad and Tobago (T&T) it is about one hour flying time south to Georgetown the capital of the...

Is the world heading for a shortfall in global oil supply?

By Dean Foreman, Chief Economist at American Petroleum Institute It’s possible we could be headed for a shortfall in global oil supply as soon as next...
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Local Content

Proposal to have 111 categories of service with high local content targets unrealistic – AMI Co-Director

If Brazil with a population of over 200 million people found it difficult to achieve high or progressive local content targets for 90 categories...

Guyana should learn from Brazil’s shortfalls in its Local Content Policy

By Arthur Deakin – OilNOW On February 15, the government of Guyana opened a public consultation process for its local content policy. Guyana is set...

Need for realistic local content targets form key part of discussions as Guyana prepares framework

Section seven of Guyana’s draft revised Local Content Policy Document that is currently under consultation falls under the title, ‘Minimum Local Content in Goods...

Operators must tell local businesses about upcoming opportunities, President says

The Guyana Government is seeking to make it a policy that oil and gas operators have to provide advance notice to local businesses in...

Capacity on the ground, banking system challenges among points raised at opening of local content consultations

During the first leg of consultations held on Monday on Guyana’s draft Local Content Policy, the discourse, which was facilitated by President, Dr. Irfaan...

Accountability, realistic targets must be hallmarks of Guyana’s local content policy – President Ali

During Monday's launch of the first round of consultations on Guyana's draft Local Content Policy, President Irfaan Ali categorically stated that the final document...
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Latest News

South American basin with abundant oil resources giving rise to fierce competition

Some are calling it the last major hydrocarbon frontier while others see it as the Holy Grail of oil and gas. The Guyana Suriname...

Crude oil futures surge, ICE Brent May contract up almost 2%

(S&P Global Platts) Crude oil futures surged during the mid-morning trade in Asia March 1, with the oil market reversing the previous session's losses...

Rivalry in the Guyana Suriname Basin, the Holy Grail of oil & gas

By Anthony T. Bryan – OilNOW From Trinidad and Tobago (T&T) it is about one hour flying time south to Georgetown the capital of the...

Letter-to-the-Editor: No matter the price of oil, Guyana will receive a lot of revenue

There is a Letter to the Editor published in Sunday’s Stabroek News under the headline, “Guyana is losing US$35B by failing to negotiate a...

Experts set to discuss Guyana’s gas to power project in OilNOW TV Sunday premiere

A panel discussion on Guyana’s planned gas to power project will premiere on OilNOW TV this evening as part of a series focusing on...

Is the world heading for a shortfall in global oil supply?

By Dean Foreman, Chief Economist at American Petroleum Institute It’s possible we could be headed for a shortfall in global oil supply as soon as next...

Suriname lines up new shore base port

(Caribbean Maritime) In 2020, amid the worldwide Covid-19-induced economic downturn, Suriname reached second place, only behind Russia, in terms of discovered oil and gas...

Proposal to have 111 categories of service with high local content targets unrealistic – AMI Co-Director

If Brazil with a population of over 200 million people found it difficult to achieve high or progressive local content targets for 90 categories...

Regional

Suriname lines up new shore base port

(Caribbean Maritime) In 2020, amid the worldwide Covid-19-induced economic downturn, Suriname reached second place, only behind Russia, in terms...

SBM Offshore is sole bidder for giant Brazil FPSO

Brazil’s state-controlled oil company Petrobras received only one proposal, from Dutch floater specialist SBM Offshore, in a bid to...

Brazil’s Enauta restarts production well after shutting down to replace oil heaters

(S&P Global Platts) Brazilian independent oil and natural gas producer Enauta restarted a single production well at the offshore...

Eight Suezmaxes booked out of Guyana so far this year as output set to balloon – Platts

(S&P Global Platts) A partial easing of US sanctions on Venezuela on humanitarian grounds could pump Caribbean-loading cargoes into...

Credit agencies should reward oil majors for natural gas developments

By Arthur Deakin - OilNOW On January 26, one of the most influential credit rating agencies in the world, Standard...

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Must Read

South American basin with abundant oil resources giving rise to fierce competition

Some are calling it the last major hydrocarbon frontier while others see it as the Holy Grail of oil and gas. The Guyana Suriname...

Experts set to discuss Guyana’s gas to power project in OilNOW TV Sunday premiere

A panel discussion on Guyana’s planned gas to power project will premiere on OilNOW TV this evening as part of a series focusing on...

CDC hosts major oil spill response workshop ahead of exercise to test Guyana’s capabilities

Guyana’s Civil Defence Commission (CDC) is partnering with US State agencies, Pacific Disaster Center, ExxonMobil, and the French and Canadian Armed Forces to build the...

Reassembly of gas compressor completed, testing to begin – ExxonMobil

ExxonMobil Guyana said this week that all rework and reassembly of the flash gas compressor that encountered challenges in January have been completed and...

Exxon sees unprecedented progress in local content development in Guyana – Routledge

President of ExxonMobil Guyana, Alistair Routledge said this week he has seen unprecedented levels of progress in local content development and stressed the importance...

Foreign investors crucial to Guyana’s development, says government officials

Chief Executive Officer of the Guyana Office for Investment (GO-Invest), Dr. Peter Ramsaroop, days ago reiterated the importance of foreign direct investment to Guyana’s...

Opinions

Rivalry in the Guyana Suriname Basin, the Holy Grail of oil & gas

By Anthony T. Bryan – OilNOW From Trinidad and Tobago (T&T) it is about one hour flying time south to Georgetown the capital of the Republic of Guyana and another hour flying south to Paramaribo the capital of Suriname. These two new emerging oil-rich deep-water provinces now have joined Trinidad and Venezuela which have been oil producers and exporters for 118 years. The Guyana Suriname Basin (GSB) is the Holy Grail of new oil province discoveries....

Letter-to-the-Editor: No matter the price of oil, Guyana will receive a lot of revenue

There is a Letter to the Editor published in Sunday’s Stabroek News under the headline, “Guyana is losing US$35B by failing to negotiate a...

Is the world heading for a shortfall in global oil supply?

By Dean Foreman, Chief Economist at American Petroleum Institute It’s possible we could be headed for a shortfall in global oil supply as soon as next...

Will oil companies start spending again? Cash generation could hit record levels in 2021

By Simon Flowers - Chairman, Chief Analyst and author of The Edge at Wood Mackenzie This could be the year oil and gas roars back. Tom...

Guyana should learn from Brazil’s shortfalls in its Local Content Policy

By Arthur Deakin – OilNOW On February 15, the government of Guyana opened a public consultation process for its local content policy. Guyana is set...

Petroleum Contracts

Agreement

between Government of Guyana and EEPGL + CNOOC/NEXEN + HESS

Agreement

between Government of Guyana and CGX Energy

Agreement

between Government of Guyana and Ratio Energy

Agreement

between Government of Guyana and Tullow/Eco Atlantic

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Exploration

Fifty-seven days later: Bulletwood-1 drill campaign wrapping up

The Stena Carron drillship is wrapping up operations at the Bulletwood-1 prospect offshore Guyana on the Canje Block where the well was spudded approximately...

Stena DrillMAX to target Turbot/Longtail appraisal operation, new campaign at Whiptail-1

The 6th Generation Harsh Environment dual activity dynamically positioned (DP3) drillship, Stena DrillMAX, is now in Guyana waters and will begin operations with a...

Guyana pushing big volumes in South America deepwater bonanza

South America continues to be a major player in the global arena for deepwater discoveries, with Guyana pushing big volumes and massive potential finds...

Oil majors incurred record loss in 2020, output fell by almost 1 million bpd

The downturn brought by the coronavirus pandemic and the accelerating energy transition has created a new reality for the world’s oil and gas industry,...

Discoveries

Guyana could find more oil, and closer to shoreline

Experts in the oil and gas industry believe that more oil could be discovered closer to Guyana’s shoreline in the coming years with one...

Guyana’s history with oil dates back centuries

The possibility of Guyana having petroleum stemmed from observations of petroliferous occurrences recorded by Dutch explorers since the 1750s, but it was not until...

Offshore drillers look to Guyana, Suriname as global market struggles to recover – S&P Global

(S&P Global) Off the coasts of Guyana and Suriname, exploration and production companies are turning to offshore drillers and services providers to help them...

Production

Reassembly of gas compressor completed, testing to begin – ExxonMobil

ExxonMobil Guyana said this week that all rework and reassembly of the flash gas compressor that encountered challenges in January have been completed and...

Experts finalizing recommendations for repair of discharge silencer

Reassembly of the Liza Destiny FPSO flash gas compressor sent to Germany for repairs continues at the MAN Energy Solutions workshop. ExxonMobil Guyana said on...

Brazil’s Enauta restarts production well after shutting down to replace oil heaters

(S&P Global Platts) Brazilian independent oil and natural gas producer Enauta restarted a single production well at the offshore Atlanta Field, pumping about 10,400...

Guyana pushing big volumes in South America deepwater bonanza

South America continues to be a major player in the global arena for deepwater discoveries, with Guyana pushing big volumes and massive potential finds...