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Trotman slams Global Witness over ‘abominable, dirty deed’ as “Signed Away’ is withdrawn

OilNOW -
Former Guyana Minister of Natural Resources, Raphael Trotman, on Monday released a statement heavily criticizing international NGO, Global Witness, in wake of the organisation’s move to withdraw its controversial report - Signed Away – issued in February 2020. Below is...
News

Goldman sees Brent hitting $65/b by June

OilNOW -
(S&P Global) Goldman Sachs sees Brent crude rising to $65/b by the middle of 2021, up to six months earlier than previously forecast, as a demand boost from the rollout of COVID-19 vaccines and potential delays in restarting OPEC+...
News

Guyanese garment manufacturers outfitting Prosperity FPSO construction crew in Singapore

OilNOW -
Two local companies—Denmor Garments Manufacturers Inc. and Caribbean Clothing Company Ltd.—have secured contracts to manufacture a total of two thousand coveralls for construction workers in Singapore. The workers are supporting construction of the Prosperity, which will become the third...
News

Global Witness withdraws report on Guyana, cites overestimation of potential economic benefits from oil production

OilNOW -
International NGO, Global Witness, has withdrawn its highly controversial report - Signed Away – that focused on the fiscal terms of the Stabroek Block Production Sharing Agreement Guyana has with ExxonMobil. Below is the full statement from Global Witness. Statement on...
Exploration

Bulletwood, Bonboni key wells to watch as exploration takes off in the Americas this year – Westwood

OilNOW -
Guyana and Suriname remain two major hotspots for exploration activity in 2021 with a number of key wells to watch as the Americas take the lead in the hunt for hydrocarbon resources this year. Westwood Global Energy Group said in...
News

U.S condemns Venezuela aggression towards Guyana, pledges support for ICJ proceedings

OilNOW -
The United States over the weekend made it clear that it remains in full support of Guyana’s bid to have the International Court of Justice (ICJ) preside over the matter involving Venezuela’s refusal to accept an 1899 arbitral award...
News

Separate law for local content won’t guarantee success – Greenidge

OilNOW -
Since the discovery of oil in Guyana back in 2015, there have been mounting calls for Local Content Legislation. While some believe this legal backing may be helpful in the country’s bid to ensure locals are able to enjoy the maximum...
News

Oil prices fall on renewed coronavirus concerns

OilNOW -
(Reuters) - Oil prices fell on Monday on renewed concerns about global fuel demand amid strict coronavirus lockdowns in Europe and new movement restrictions in China, the world’s second-largest oil user, after a jump in cases there. Brent crude oil...
News

Guyana moving to rapidly establish legislative agenda for oil and gas

OilNOW -
The Guyana government is moving towards the urgent development of a legislative framework to manage the oil and gas sector, and among the tasks on the agenda is the development of laws that will allow for use of the...
News

Production and decommissioning of a well

OilNOW -
Production is the longest phase in the well’s life and may last for years or even decades. Over time, production declines and, eventually, will be too low to continue to operate the field. But, during a field’s productive life,...
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Latest News

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Petronas adds Roystonea-2 to Suriname exploration campaign

PETRONAS has added the Roystonea-2 appraisal well to its exploration program in Block 52 offshore Suriname, according to Staatsolie. Staatsolie...

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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