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Mexico will stop exporting crude to U.S. by 2023

OilNOW -
(S&P Global Platts) Mexico's Pemex plans to reduce crude oil exports to the US to 435,000 b/d in 2022 and to stop it completely in 2023 as the state-run company increases its refining capacity to meet domestic fuel demand,...
News

Board overlooking oil fund protects country from whims of lone official, says Ali in public message

OilNOW -
Guyana’s President, Dr. Irfaan Ali on Tuesday put forward an impassioned case in support of the Natural Resources Fund (NRF) Bill 2021 which his administration laid in Parliament this month, saying key provisions in the document takes away extraordinary...
News

Nasdaq says Guyana GDP will hit double digits by 2023

OilNOW -
Guyana is among the few nations in the world which managed to evade economic contraction during 2020 as massive investments fueled by the more than 10 billion barrels of oil equivalent resources found off of its coast continue to...
Exploration

Repsol conducting survey at Guyana block ahead of 2022 drill campaign

OilNOW -
Spanish oil company Repsol is moving to conduct a geotechnical survey at the Kanuku Block offshore Guyana where it plans to drill another exploration well in 2022. This exercise will incorporate the use of the PSV MIA and will take...
Exploration

Giant prospects in Guyana will be at forefront of 2022 exploration

OilNOW -
U.K. based consultancy group Wood Mackenzie says the exploration sector will accelerate its repositioning for the energy transition in 2022 and this will see advantaged resources being targeted to replace maturing legacy assets. Conventional exploration will follow the disciplined path...
News

Venezuela doubled oil production this year after hitting lowest point in a decade

OilNOW -
(Reuters) - Venezuela this year almost doubled its oil production from last year's decades-low as its state-owned company struck deals that let it pump and process more extra heavy crude into exportable grades. The surprising reversal began as state-run Petroleos...
News

India crude imports hit highest level in 10 months

OilNOW -
(S&P Global Platts) India's crude imports in November reversed a declining trend to hit its highest level in 10 months as refiners build inventories in anticipation of higher runs, but analysts continued to keep a close eye on developments...
News

Oil operators, sub-contractors will get one-year grace period to comply with Local Content Law – AG

OilNOW -
Once the Local Content Bill 2021 becomes law, international oil companies and their subcontractors will have a one-year grace period to get their proverbial house in order and be fully compliant with the legislation says Attorney General of Guyana...
Exploration

CGX spokesperson says maritime notice inaccurate; drilling at Kawa-1 continues

OilNOW -
A spokesperson for CGX Energy says a notice published by Guyana’s Maritime Administration Department (MARAD) last week stating that demobilization of exploration drilling operations at the Corentyne Block is underway, is inaccurate, since the drill campaign at its Kawa-1...
Exploration

Demobilization activities underway at CGX Kawa well

OilNOW -
Guyana’s Maritime Administration Department said in a notice dated December 24 that CGX Energy is moving forward with demobilization of exploration drilling operations at the Corentyne Block where it is hoping to hit pay at the Kawa-1 prospect. The demobilization...
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NewsKemol King -

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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