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Rivalry in the Guyana Suriname Basin, the Holy Grail of oil & gas

OilNOW -
By Anthony T. Bryan – OilNOW From Trinidad and Tobago (T&T) it is about one hour flying time south to Georgetown the capital of the Republic of Guyana and another hour flying south to Paramaribo the capital of Suriname. These two...
Opinions

Is the world heading for a shortfall in global oil supply?

OilNOW -
By Dean Foreman, Chief Economist at American Petroleum Institute It’s possible we could be headed for a shortfall in global oil supply as soon as next year – pretty remarkable considering where oil demand was last spring, with economies slowing under...
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Suriname lines up new shore base port

OilNOW -
(Caribbean Maritime) In 2020, amid the worldwide Covid-19-induced economic downturn, Suriname reached second place, only behind Russia, in terms of discovered oil and gas reserves. And all this from just one offshore find in Block 58, and without counting...
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Proposal to have 111 categories of service with high local content targets unrealistic – AMI Co-Director

OilNOW -
If Brazil with a population of over 200 million people found it difficult to achieve high or progressive local content targets for 90 categories of service, how does Guyana propose to do a better job with a smaller population...
Opinions

Will oil companies start spending again? Cash generation could hit record levels in 2021

OilNOW -
By Simon Flowers - Chairman, Chief Analyst and author of The Edge at Wood Mackenzie This could be the year oil and gas roars back. Tom Ellacott, SVP Corporate Analysis, saw in early December that the industry could have its own V-shaped recovery...
News

Coming oil price bounce, supply shortfall opening space for Guyana barrels

OilNOW -
More space is being created on the oil market for Guyana’s medium sweet Liza Crude as prices are expected to rise amid a coming shortfall in supply. According to the findings of a Reuters Poll published on Friday, oil prices will stage a...
News

New York Stock Exchange begins delisting CNOOC

OilNOW -
The New York Stock Exchange on Friday decided to begin formal delisting of Chinese state oil giant CNOOC Ltd based on an executive order signed by former U.S. President Donald Trump in November last year, Reuters said in a...
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CDC hosts major oil spill response workshop ahead of exercise to test Guyana’s capabilities

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Guyana’s Civil Defence Commission (CDC) is partnering with US State agencies, Pacific Disaster Center, ExxonMobil, and the French and Canadian Armed Forces to build the South American country’s National Oil Spill Capabilities. The Commission on Thursday collaborated with regional and international...
News

In historic move, Exxon takes Canadian oil sands off its books

OilNOW -
(Bloomberg) --Exxon Mobil erased almost every drop of oil-sands crude from its books in a sweeping revision of worldwide reserves to depths never before seen in the company’s modern history. Exxon counted the equivalent of 15.2 billion barrels of reserves...
News

Reassembly of gas compressor completed, testing to begin – ExxonMobil

OilNOW -
ExxonMobil Guyana said this week that all rework and reassembly of the flash gas compressor that encountered challenges in January have been completed and the machine is now being prepared for testing at the MAN Energy Solutions workshop in...
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Guyana’s first major oil & gas training college to welcome full cohort next month

The long-awaited Guyana Technical Training College Inc. (GTTCI) is set to welcome its first cohort of students to be...

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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