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Oil posts biggest week of losses in nine months

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(Reuters) - Oil prices closed out their biggest week of losses in more than nine months with another down day on Friday, as investors sold futures in anticipation of weakened fuel demand worldwide due to a surge in COVID-19...
News

Investments and opportunities growing in South America’s new oil producing nation

OilNOW -
With Guyana approaching its second year as an oil-producing nation, the small South American country, with a population of approximately 750,000 continues to see increasing benefits from its resource-rich Exclusive Economic Zone (EEZ), in which its vast oil fields...
News

Guyana, Suriname exploring unification of economic spaces – senior minister

OilNOW -
The Presidents of Guyana and Suriname, Dr. Mohamed Irfaan Ali and Chandrikapersad Santokhi, have discussed at length, ways in which the two countries can unify their economic spaces. So said senior minister in the Office of the President with responsibility...
News

Argentina introduces gas plan too late, now forced to purchase LNG at record high prices, says GlobalData

OilNOW -
Argentina’s Plan Gas IV, which aimed to incentivize natural gas production in the country, was introduced too late, according to GlobalData. The data and analytics company notes that the plan’s delays have meant production has not ramped up enough...
News

Oil drops as Delta variant spreads

OilNOW -
(Reuters) - Oil prices were down for a seventh straight session on Friday near three-month lows and heading for a weekly loss of over 7% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened...
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Guyana, Suriname discoveries span around 100 million years of deposition – Exxon Senior VP

OilNOW -
The unprecedented discoveries in the Guyana-Suriname Basin formed the basis of discussions on day 3 of the Offshore Technology Conference at a session where key stakeholders shared their views and talked about upcoming exploration and production campaigns. Chief among...
Exploration

Repsol planning to drill another well offshore Guyana in 2022 – head of exploration

OilNOW -
Spanish oil company Repsol plans to drill another well offshore Guyana in 2022. Speaking at the Offshore Technology Conference this week, Tomas Zapata, Head of Exploration for the Americas, said the company is optimistic about hitting pay after the first...
News

Guyana-Suriname Joint Communique

OilNOW -
JOINT COMMUNIQUE ISSUED ON THE CONCLUSION OF THE OFFICIAL VISIT TO GUYANA BY HIS EXCELLENCY CHANDRIKAPERSAD SANTOKHI, PRESIDENT OF THE REPUBLIC OF SURINAME  AUGUST 17-20, 2021 At the invitation of His Excellency Dr Mohamed Irfaan Ali, President of the Cooperative...
News

TotalEnergies says decision on 1st Suriname offshore development by year end

OilNOW -
TotalEnergies, operator of Suriname’s Block 58, says by the end of the year it will be able to determine if an announcement of the first commercial development offshore the South American country will be made. The French oil major along...
News

Guyana basin discoveries approaching 13 billion barrels with much more to come, minister tells OTC conference

OilNOW -
Guyana’s Minister of Natural Resources, Vickram Bharrat, told attendees at the Offshore Technology Conference on Wednesday discoveries in the Guyana Basin are now likely approaching 13 billion barrels of oil equivalent resources and that he expects there will be...
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Latest News

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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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