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Guyana amends Petroleum Law to protect use of private lands in multimillion dollar projects

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Members of Guyana's National Assembly on Monday debated and passed the Petroleum (Production and Exploration) Amendment Bill-2021 which will now ensure proper oversight by the government during the acquisition of private lands by a licensee for major oil projects....
News

Guyana receives US$79.6M for seventh oil lift

OilNOW -
The Government of Guyana through the Ministry of Natural Resources on Monday announced that the country received close to US$80M for the nation’s seventh oil lift. The proceeds have been deposited in the Natural Resources Fund account. Expounding on this...
News

Guyana oil exploration takes place at depths of over 30 Kaieteur Falls

OilNOW -
Oil and gas exploration activities offshore Guyana take place at significant depths with the Tanager-1 well spudded on the Kaieteur block being the deepest well ever to be drilled so far by ExxonMobil off the South American country’s coast. Tanager...
News

Talos looking for M&A opportunities outside GOM, highlights good results from Guyana

OilNOW -
Houston-based Talos Energy Inc. is looking for other growth opportunities which include places outside the Gulf of Mexico. The company is still doing everything to maximize value in its Zama discovery in Mexico after the authorities granted operatorship to state...
News

Stabroek turning out to be one of the most prolific exploration success stories of all time

OilNOW -
It remains the block that keeps giving. Covering an area of 6.6 million acres, equivalent in size to 1,150 Gulf of Mexico blocks, the Stabroek block has so far delivered over 20 commercial discoveries pegged at more than 9...
News

Oil drops 4% as virus concerns persist

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(Reuters) - Oil prices fell by 4% on Monday, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel...
Exploration

Aggressive oil exploration needed in Colombia – GlobalData

OilNOW -
Colombia needs to pursue a much more aggressive oil exploration strategy in order to avoid highly contested fracking activities or an increase in gas prices as a result of importing, according to GlobalData. The leading data and analytics company...
News

Petrobras planning Brazil drill programme, hopes to replicate Guyana, Suriname successes

OilNOW -
Brazilian state-led oil company Petrobras plans to drill two wells in the sensitive Foz do Amazonas Basin in an attempt to replicate the massive offshore discoveries made in neighboring Guyana and Suriname, but still needs to win permits from...
Opinions

Unrealistic expectations and untapped opportunities—are we paying attention?

OilNOW -
By A. Bacchus - OilNOW “We got oil but wuh duh mean fuh me? I ain’t seeing a cent of the oil money.” I recently heard that statement from a close friend of mine who has, in recent years, been...
News

Consultant submits bids for key projects under GYEITI

OilNOW -
In keeping with requirements that Guyana signed onto with the Extractive Industries Transparency Initiative (EITI), the country’s Natural Resources Ministry had issued Requests for Proposals (RFPs) for two projects. The first seeks a consultant to conduct a comprehensive Guyana (GYEITI)...
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ExxonMobil wins Upstream Operator of the Year for Guyana and Permian excellence

ExxonMobil has been named Upstream Operator of the Year at the Gulf Energy Information Excellence Awards, earning recognition for...

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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