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Exploration

Drilling in ‘super plays’ like Guyana will intensify this year – WoodMac

OilNOW -
Globally, deepwater will remain an exclusive sector with few operators, and oil majors will continue to dominate, accounting for 45% of planned deepwater drilling in 2022, particularly in ‘super plays’ like Guyana, Suriname and Brazil. According to new insight from...
News

Guyana guarding against market volatility under new oil fund rules

OilNOW -
The fiscal rule for Guyana’s Natural Resources Fund (NRF) will not be based on future projections of oil prices but on the previous year’s revenue. With this mechanism in place, the new oil producing South American country hopes to...
Exploration

Drilling operations at Stabroek Block in high gear

OilNOW -
Drilling activities at the Stabroek Block offshore Guyana continue in earnest with a series of exploration, appraisal and development campaigns underway. ExxonMobil, operator of the 6.6 million acres block, is undertaking exploration drilling operations at Fangtooth-1, Lau Lau-1 and barreleye-1....
News

Oil kicks off 2022 on high note

OilNOW -
(Reuters) - Oil prices firmed on Monday as the market kicked off 2022 on a positive note with suppliers in focus ahead of Tuesday's OPEC+ meeting, although surging COVID-19 cases continued to dent demand sentiment. Brent crude added 56 cents,...
News

Stabroek Block co-venturer earns climate change leadership status for 13 consecutive years

OilNOW -
Hess Corporation which holds a 30 percent interest in Guyana’s prolific Stabroek Block, has been recognized for its climate change stewardship in CDP’s Climate Change Scores for 2021. Significantly, Hess has maintained Leadership status for 13 consecutive years from...
Opinions

Resolutions and solutions

OilNOW -
Another year has come to an end, and we are now in two days into 2022. As is customary, the last few days for many would have been spent reflecting on 2021 and whether or not goals were achieved...
News

Exploration drilling at Kawa-1 will continue this month, could wrap up early February

OilNOW -
Guyana’s Maritime Administration Department (MARAD) said in a notice dated December 31, 2021, that CGX Energy will continue exploration drilling at the Kawa-1 prospect this month. “This operation is scheduled to conclude on February 05, 2022,” MARAD said. Kawa-1 is located...
News

Private sector to help mobilise financing for mega projects this year, Ali says at historic signing of local content bill

OilNOW -
President of Guyana, Dr. Mohamed Irfaan Ali on Friday assented to the landmark Local Content Bill 2021 at a simple ceremony held at the Office of the President in Georgetown. "It sets the framework for Guyanese to win, and that...
News

Exxon looking at up to $1.9B in Q4 operating gains

OilNOW -
According to its latest 8-K filing, Exxon Mobil (NYSE:XOM) expects changes in natural gas prices will raise Q4 earnings by $700M-$1.1B compared with Q2 and changes in liquids prices will lift earnings by $400M-$800M. According to an article published on...
News

Ali delivers new year address to nation

OilNOW -
2022 New Year Address to the Nation By His Excellency Mohamed Irfaan Ali, President of the Co-operative Republic of Guyana My People of our One Guyana I speak to you now to wish you all, sincerely, a Happy New Year. I know...
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Chevron CEO hails Hess deal as 2025’s biggest U.S. merger, bets on lasting oil demand

Mike Wirth, Chief Executive Officer of Chevron, defended the company’s oil-first strategy in a recent interview with the New...

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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