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Saipem 10000 makes major discovery for Eni offshore Ivory Coast

OilNOW -
Eni has announced a major oil discovery in block CI-101 offshore Ivory Coast. The block is operated by Eni with Petroci Holding, who hold 90% and 10% respectively in the exploration phase. The discovery well has been drilled on the...
News

Uncompetitive fiscal regimes, poor reservoir quality behind stalled development of over 11 billion barrels of oil

OilNOW -
Updated September 2, 2021 A study by Westwood Global Energy Group shows that 11 billion barrels of oil and 36 billion barrels of oil equivalent (boe) gas in 119 discoveries - >100 million boe in size - made between 2008...
News

Oil exports remain key driver of Guyana’s GDP, says IDB in latest report

OilNOW -
The main driver of Guyana’s GDP in the medium term continues to be oil exports, which the International Monetary Fund (IMF) estimates will represent 38.2 percent of GDP in the 2020 –2021 period. This is according to the Inter-American...
News

Louisiana economic groups, GCCI talk up major trade mission

OilNOW -
Participants from the state of Louisiana Economic Development (LED) international department, the South Lafourche parish economic department and the Greater Lafourche Port Commission met with representatives of Guyana’s Georgetown Chamber of Commerce and Industry (GCCI) last month on the sidelines...
News

Ali urges AmCham to aggressively represent Guyana’s interest in U.S. market

OilNOW -
Guyana’s President, Dr. Mohamed Irfaan Ali on Wednesday told members of the American Chamber of Commerce (AmCham) Guyana that he is looking forward to them championing the country’s quest in the removal of barriers to trade. According to a press...
News

August 29 marked 2 years since the vessel arrived that catapulted Guyana on the world stage

OilNOW -
Over 1,000 Guyanese worked on projects that culminated with the commissioning of the country’s first floating production storage and offloading (FPSO) vessel on Saturday, June 22, 2019, in Singapore. The vessel then set sail soon after for the South...
Exploration

Rystad Energy says ‘numerous exploration prospects’ remain at giant Stabroek Block

OilNOW -
The prolific Stabroek Block offshore Guyana, covering an area of 6.6 million acres, still has multiple exploration prospects remaining with large swathes of the ExxonMobil-operated license still unexplored. This is despite the U.S. oil major and co-venturers Hess and...
News

Major Guyana oil & gas events poised to make a return in Q1 2022

OilNOW -
After a lull of more than a year for staging oil and gas conferences and exhibitions in Guyana due to the pandemic, several events are being planned, beginning in Q1 2022, that will see a mixture of in-person and...
News

Oil edges up ahead of OPEC+ meeting

OilNOW -
(Reuters) - Oil prices rose on Wednesday before an OPEC+ meeting in which the producer club is expected to stick to a plan to add 400,000 barrels per day (bpd) each month through to December. The Organization of the Petroleum...
News

Venezuela August average crude production declines to 520,000 b/d

OilNOW -
(S&P Global Platts) In August, average crude production by state-owned PDVSA and its foreign partners fell to 520,000 b/d, slightly below the 524,000 b/d reported for July, and 535,000 b/d below the recovery target announced in April by petroleum...
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Staatsolie approves commercial field for Sloanea-1 gas discovery in Suriname’s Block 52

Staatsolie Maatschappij Suriname N.V. has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname....

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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