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Exxon makes new Guyana discovery, increases resource to 10 billion barrels

OilNOW -
ExxonMobil announced on Thursday a new discovery at the Cataback-1 well and increased its estimate of the discovered recoverable resource for the Stabroek Block offshore Guyana to approximately 10 billion oil-equivalent barrels. Cataback-1 brings the total significant discoveries to more...
Exploration

High quality crude, big investments propelling Guyana as key global player

OilNOW -
The light sweet crude being produced in Guyana is poised to help meet a rise in global energy demand which the U.S. Energy Information Administration (EIA) says could increase 47% in the next 30 years, driven by population and...
News

bp to grow leading US technology company that turns commercial buildings into virtual power plants

OilNOW -
On Thursday bp announced that it had acquired Blueprint Power (Blueprint), a US-based technology company whose technology can help turn buildings into a flexible power network by connecting them to energy markets through cloud-based software. Blueprint’s technology presents an...
News

Stabroek Block crude gives Guyana strategic advantage over global peers, says energy expert

OilNOW -
The vast crude reservoirs found at the Stabroek Block offshore Guyana, home to over nine billion barrels of oil equivalent discovered since 2015, consist of light, sweet, high-quality oil-bearing sand, making it easier to extract and refine with less...
News

Oil price hits multi-year high bolstered by OPEC+ production restraint

OilNOW -
(Reuters) - Oil hit a multi-year high on Wednesday above $83 a barrel, supported by OPEC+'s refusal to ramp up production more rapidly against a backdrop of concern about tight energy supply globally. The market later unwound those gains due...
News

China’s gas demand has returned stronger than before

OilNOW -
By Miaoru Huang - Research Director, APAC Gas & LNG at Wood Mackenzie After a pandemic slowdown last year, China’s demand for gas appears to have returned stronger than before. In H1 2021, China’s gas demand saw a 16% year-on-year...
Opinions

Guyana and Suriname: the role of emerging oil markets on the path to net zero

OilNOW -
By Arthur Deakin – OilNOW This year, the world has become increasingly aware of a global energy shortage as well as the irreversible damages of climate change. Throughout Europe, gas prices have tripled due to a fall in inventory meeting...
News

Higher natural gas prices to boost Exxon’s 3Q profits by around $700 million

OilNOW -
(Natural Gas Intelligence) Higher natural gas prices are predicted to boost ExxonMobil’s third quarter upstream profits by around $700 million, more than forecast for oil, the energy major said. In its 3Q2021 earnings guidance, detailed in a Securities and Exchange...
News

Saipem awarded new drilling contracts in Middle East, South America

OilNOW -
Saipem has been awarded new onshore drilling contracts in the Middle East and in South America. In particular, a contract has been awarded in the United Arab Emirates with a duration of approximately 15 months. In South America, Saipem has...
News

Drivers of civil unrest in Latin America

OilNOW -
(IHS Markit) Latin American countries are gradually beginning to reopen after 18 months of coronavirus disease 2019 (COVID-19)-virus-related restrictions. Although the region is set to grow in 2021, long-run political and economic-related grievances have been exacerbated by the pandemic....
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Noble, EDO and MATPAL gear up for recruitment drive in Guyana’s Essequibo region

The Noble Recruitment Drive is set to arrive in Parika in the Essequibo Islands-West Demerara region of Guyana on Sunday,...

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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