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Oil price projections remain uncertain, Guyana already warned not to spend what it doesn’t have

OilNOW -
Extreme price volatility has been a key feature of the oil industry and can have a major impact on the ability of governments to plan effectively on how to invest oil revenues. The outbreak of the coronavirus has further...
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Let local content policy be responsive to conditions on the ground, expert urges

OilNOW -
Guyana has just entered its second year as an oil producing country and the question of how to maximize benefits for the local population remains at the forefront of ongoing discussions. While stakeholders across the board agree that implementing...
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Halliburton delivers industry’s first successful grid-powered fracturing operation

OilNOW -
Halliburton Company said on Thursday it has successfully deployed the industry’s first electric grid-powered fracturing operation. The job, being performed on several pads for Cimarex Energy Co. in the Permian basin, started in November. To date, Halliburton said it has...
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Exxon has made 18 commercial discoveries out of 22 exploration wells drilled in Guyana

OilNOW -
The success rate for finding commercial quantities of hydrocarbons offshore Guyana remains one of the highest in the oil and gas industry. Supported by state-of-the-art technology and highly trained geoscientists, U.S oil major ExxonMobil has had a remarkably good...
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Company planning to use recycled oil waste for production of bitumen, liquid mud

OilNOW -
Oilfield Waste Management Services (OWMS) plans to construct a thermal desorption waste treatment plant in Guyana to support the growing oil exploration activities offshore the South American country. Recycled oil from the treatment plant will be used in the...
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Exxon says claims relating to valuation of Permian Basin assets ‘demonstrably false’

OilNOW -
U.S oil major ExxonMobil said on Friday that there is no basis for claims made by an alleged whistleblower, and reported by The Wall Street Journal, regarding the valuation of its assets in the Permian Basin. The Journal reported on...
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SBM Offshore gets ‘Best Oil Platform Operations’ award from Brazil’s Petrobras

OilNOW -
Dutch floater specialist SBM Offshore, operator of the Liza Destiny FPSO in Guyana, has received the ‘Best Oil Platform Operations’ award from Brazil’s state oil company, Petrobras. The accolade was given as part of Petrobras’ 2019 best suppliers awards exercise,...
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ExxonMobil comes up dry at Hassa-1 offshore Guyana

OilNOW -
Drilling at the Hassa-1 prospect in the Stabroek block offshore Guyana has failed to encounter hydrocarbon resources, ExxonMobil said on Friday in response to a question from OilNOW. “The Hassa-1 exploration well in the Stabroek block did not encounter hydrocarbons...
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Piping gas to shore brings major benefits, find the right investment balance urges analyst

OilNOW -
The Guyana government is forging ahead with its plan to land a gas pipeline onshore to produce cheaper, cleaner energy and create new economic opportunities for the country of just over 750,000 people. While some have criticized this move,...
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Demand for Guyana’s low-sulphur crude will grow in 2021, expert says

OilNOW -
As the world continues to move towards renewable sources of energy, demand for crude with low-sulphur content will continue to increase, placing producers like Guyana in an advantaged position. That coupled with the low breakeven price to produce oil...
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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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