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Biden administration not looking to stop oil and gas development, approving permits at faster rate than Trump

OilNOW -
(CNBC) The Biden administration on Friday proposed reforms to the country's oil and gas leasing program that would raise costs for energy companies to drill on public lands and water, but stopped short of recommending an end to leasing...
News

Another Guyanese firm looking to expand operations as demand for services surge

OilNOW -
Since Guyana’s President, Dr. Mohamed Irfaan Ali’s call earlier this year for locals to prepare themselves to seize more opportunities in the country’s oil and gas sector, several Guyanese business operators have been moving to expand their capabilities and...
Opinions

Local Content: Start streamlining – Career guidance should be a necessary part of the education system

OilNOW -
By A. Bacchus The oil and gas industry will be here for at least twenty years. Local content has been one of the hot-button issues from the inception, and the need for locals to occupy this sector remains an objective...
Exploration

Exxon has found an average of 1.7 billion barrels of oil per year in Guyana since 2015

OilNOW -
It was highlighted at the Offshore Technology Conference in August this year that exploration in the Guyana-Suriname Basin has been a decades-long endeavor, including technical challenges and a lengthy history of drilling with no offshore success prior to the...
Exploration

Explorer believes eastern portion of Orinduik block can deliver significant volumes

OilNOW -
A junior partner in the Guyana basin says prospects in the offshore acreage remain highly favourable with the eastern section of the 1800km2 Orinduik Block set to potentially deliver significant volumes, the biggest yet outside of the prolific Stabroek...
News

Energy Chamber launches inaugural oil and gas seminar for high school students

OilNOW -
The Guyana Oil and Gas Energy Chamber (GOGEC) launched its inaugural oil and gas seminar for high school students on Friday in Georgetown. As part of a collaborative effort, GOGEC said it is partnering with the Guyana Telephone and...
News

IDB says withdrawal rules for Guyana’s wealth fund too complex, departs from good practices

OilNOW -
Guyana’s development partner, the Inter-American Development Bank (IDB), suggested in a report that the government reform the withdrawal rules in Guyana’s Natural Resource Fund (NRF) to make them simpler and less rigid. The advice is found in the report -...
News

10 billion barrels in Guyana, 8,000 well locations in Permian making Exxon an attractive investment bet

OilNOW -
U.S. investment and research firm Zacks said in a recent analysis that Exxon Mobil Corporation has seen upward earnings estimate revisions for 2021 and 2022 in the past several days and so far for the year, the stock has...
News

Brazil investing $68 billion over next 5 years in major oil production ramp up

OilNOW -
(S&P Global Platts) Petrobras will boost investment spending over the next five years amid a recovery in global demand, with development of the massive Buzios Field in the country's subsalt frontier expected to push crude oil output to 2.6...
News

Oil slides below $80 as new COVID-19 variant spooks investors

OilNOW -
(Reuters) - Oil prices recorded their steepest daily fall since July on Friday as a new COVID-19 variant spooked investors and added to concerns that a supply surplus could swell in the first quarter. Oil fell with global equities markets...
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Guyana’s local content spend hits US$350M in six months 

Guyana’s local business community continues to secure strong gains from the country’s oil and gas industry, with spending on...

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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