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Why did Venezuela wait 63 years to contest the validity of the 1899 Award?

OilNOW -
By Ivelaw Lloyd Griffith – OilNOW In Part I of this series, I examined Venezuela’s recent saber-rattling moves against Guyana, while in the subsequent article I addressed the high stakes involved for the two countries. With this as background I...
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Brent edges towards $70

OilNOW -
(Reuters) Oil prices rose for a third day on Wednesday as easing of lockdowns in the United States and parts of Europe heralded a boost in fuel demand in summer season and offset concerns about the rise of COVID-19...
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U.S. Geological Survey may have grossly underestimated massive Guyana-Suriname basin potential

OilNOW -
On May 4, 2021, an analysis by OilNOW pointed to the rapidly growing hydrocarbon resources being discovered in the Guyana-Suriname Basin and how this is likely set to surpass the U.S. Geological Survey (USGS) estimates for the frontier region....
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Venezuela oil production on course to be surpassed by South America’s ‘new kid on the block’

OilNOW -
Even with its vast oil reserves of over 300 billion barrels, Venezuela’s output is now on course to be surpassed by new producer Guyana where oil fields are moving to development at a robust pace as the government looks...
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India’s pandemic crisis won’t kill long-term oil demand, Liza Crude still on country’s radar

OilNOW -
India has witnessed more than 300,000 new coronavirus cases per day for nearly two weeks in what is a growing humanitarian crisis that could see the outlook for oil consumption worsening in the short term, before rebounding later this...
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Brazil’s Petrobras inviting bids for one of the largest FPSOs in the world

OilNOW -
Petrobras said on Friday that it started the bidding process for the acquisition of a new FPSO for the Búzios field, in the Santos Basin pre-salt. Named P-80, the platform will be the ninth unit to operate in the field,...
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Ali wants oil revenue to help close gap between haves and have nots, will he succeed?

OilNOW -
Since gaining its independence from the British in 1966, Guyana has struggled to embark on a path of sustained economic growth that served to elevate living standards for its people, despite being endowed with significant natural resources, even before...
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All systems being put in place for hook-up of world’s first Fast4Ward® FPSO

OilNOW -
All systems are being put in place for Guyana’s second oil production vessel which will depart Singapore in June for the South American nation. The Liza Unity floating production storage and offloading (FPSO) unit will have double the capacity...
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Low Indian demand offsets oil’s recovery

OilNOW -
(Bloomberg) Oil prices dipped as traders weighed weaker fuel demand in India against optimism over the global economic recovery from the coronavirus pandemic. Brent crude fell 0.6% to about $66.50 a barrel in Asian trading. Sales of gasoline in India were the...
News

Wales to be like Point Lisas but a little bit more eco-friendly – VP Jagdeo

OilNOW -
The Guyana government’s highly anticipated US$900M gas project is expected to pave the way for a massive industrial park to be housed at Wales. According to Vice President, Dr. Bharrat Jagdeo, the Wales development will have similar characteristics to...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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