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Governments in developing countries not ready to ‘kill off’ upstream investment – WoodMac

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Governments have a lot to think about in 2021 says UK-based global consultancy group, Wood Mackenzie. Tougher fiscal terms could put countries at the sharp end of the energy transition – but support for upstream sectors could also remain...
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Higher fluids sales in Guyana help bump up Halliburton Latin America revenue

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Halliburton reported quarterly results on Tuesday that exceeded analysts’ expectations posting a profit of 18 cents per share on revenue of $3.24 billion for the fourth quarter (Q4) of 2020. According to Refinitiv, analysts expected earnings per share of 15...
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Norway issues 61 new licences for oil and gas exploration activities

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Thirty companies have received offers of ownership interests in a total of 61 production licences on the Norwegian Shelf in the Awards in Predefined Areas (APA) 2020, the Norwegian Petroleum Directorate said on Tuesday. The authorities assessed applications from a...
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Energy Chamber looking to play major role in Guyana oil & gas development

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The Guyana Oil and Gas Energy Chamber (GOGEC) says it plans to play a major role in the development of the country’s oil and gas sector and will be ramping up activities this year to focus on local content...
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Groups plan to press Biden to reverse ban on Venezuela fuel swaps

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(Reuters) - Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse a ban on crude-for-diesel swaps. The Trump administration...
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Exxon targeting over a dozen wells, ramping up drill capacity offshore Guyana this year – Routledge

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A flurry of activity is expected offshore Guyana this year as U.S. oil major ExxonMobil ramps up its search for even more hydrocarbons, targeting deeper and risker prospects. The company has also confirmed that it will be boosting its drill...
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Oil demand will continue to climb says analyst, sees 50-year window for Guyana

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Following the devastating effects of the coronavirus pandemic on the oil industry, multiple stakeholders have posited that the sector would never see pre-2019 oil demand again. They say too that the demand is tempered by the fact that more...
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Maersk Drilling bags double-rig 500-day contracts for Suriname forays

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Based on the previously announced Conditional Letter of Award, Maersk Drilling said on Sunday that it has been awarded contracts for the deepwater rigs Maersk Valiant and Mærsk Developer from Total E&P Suriname, Suriname Branch, for Total’s exploration and...
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Oil falls as concerns mount over rising coronavirus cases in China

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(S&P Global Platts) Crude oil futures tumbled during the mid-morning trade in Asia January 18, as rising coronavirus cases in China raised fresh demand-side concerns, while the spread of mutated strains of the virus also weighed down sentiment in...
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Norway set to ramp up oil production by 19%

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(S&P Global Platts) Norway expects its oil production to rise by 19% through to 2024 on the back of new developments such as Johan Sverdrup, while it is eyeing emissions reductions in the order of 40% by the industry,...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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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