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New Apache holding company will acquire Suriname, Dominican Republic subsidiaries

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Apache Corporation (Nasdaq: APA) said on Monday that its Board of Directors has authorized the company to create a holding company structure. Upon its formation, APA Corporation, the new holding company, will replace Apache Corporation as the public company...
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Brazil’s Petrobras produced record 2.28 million bpd in 2020

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Brazil’s state-run oil company Petrolero Brasileiro SA produced a record 2.28 million barrels of oil per day on average in 2020, according to a securities filing on Thursday, Reuters reported. The combined oil and natural gas output of Petrobras, as...
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Guyana set to lead Southern Caribbean offshore drilling in 2021

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By Kevin Ramnarine – OilNOW In 2021 there will be a major increase in offshore drilling activity in the Southern Caribbean which will be led by Guyana. At present there are four drillships operating in Guyana drilling for ExxonMobil. That number...
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“Everybody is looking now for ‘sweet crude’ and we are in the market for that” – Guyana’s VP

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Guyana’s Vice President, Dr. Bharrat Jagdeo has affirmed that Government intends to take full advantage of its reserves of ‘light sweet crude’, which are expected to remain highly competitive on the world market in the coming years, even as...
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Brent climbs above US$54 as crude hits 11-month high

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(S&P Global) Crude oil futures settled at 11-month highs on Wednesday after a larger-than-expected US crude inventory draw tightened supply outlooks and prospects for more stimulus funding increased as Democrats appeared poised to take control of the US Senate. NYMEX...
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Bulletwood is ExxonMobil’s second attempt at hitting pay outside of prolific Stabroek block

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The 6.6 million acres Stabroek block has been proven to have a working hydrocarbon system across different play types, delivering upwards of 9 billion barrels of oil equivalent since 2015. The 18 discoveries made by ExxonMobil out of 20...
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Activists fail in bid to have court stop drill campaign in The Bahamas

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The drilling of the Perseverance #1 well in The Bahamas will continue following a decision of the court not to grant any orders that would halt the campaign. Bahamas Petroleum Company (BPC) said on Wednesday a timetable for further hearings...
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Traders accelerate oil sales from floating storage

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(Reuters) - Traders have accelerated crude oil sales from floating storage in December to meet higher demand in Asia as the region’s refineries throttled up for peak winter consumption, trade sources and analysts said. The drop in excess global stored...
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Guyana must develop its oil resources to ensure brighter future – Greenidge

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While ExxonMobil’s discovery of 9 billion barrels of oil equivalent resources offshore Guyana and the potential it holds for transformational development is seen as a major plus by many for the South American country, there are others who have...
News

Search for oil underway at Bulletwood-1 offshore Guyana

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U.S. oil major ExxonMobil has spudded the Bulletwood-1 prospect located 180km offshore Guyana on the Canje Block.  Bulletwood is said to be highly prospective with an environment of disposition unique among offshore Guyana blocks in that it contains both...
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Jennifer Geerlings-Simons makes history as Suriname’s first female President amid offshore oil plans 

PARAMARIBO-SURINAME: Suriname’s National Assembly convened on Sunday to elect the country’s next president in an important parliamentary session. In...

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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