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Exploration

Guyana delivered, global exploration picked up…then the pandemic struck

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A Wood Mackenzie analysis from Andrew Latham, Kristina Beadle, and David Parkinson  The global exploration industry was in a good place at the start of 2020, having recovered from a decade of high costs and poor monetisation. In this article Wood Mackenzie shares...
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T&T has been slow in moving to capitalise on Guyana oil discoveries – former trade minister

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Massive discoveries of hydrocarbon resources offshore Guyana provide a huge opportunity for neighbouring Trinidad and Tobago (T&T) says former Minister of Trade and Industry in the twin island republic, Mariano Browne. However, he believes that T&T has been slow...
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Touchstone extends lease agreements for Trinidad acreage

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Touchstone Exploration Inc. announced on Wednesday that it has extended the term of its Lease Operatorship Agreements (LOAs) with Heritage Petroleum Company Limited for its Coora-1, Coora-2, WD-4 and WD-8 blocks in Trinidad and Tobago, to March 31, 2021. The...
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Oil futures rise on news of decreases in inventories

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Crude oil futures ticked up during midmorning trade in Asia on December 30 as bullish data from the American Petroleum Institute (API) boosted market sentiment, even as new cases of the mutant coronavirus strain surfaced around the world, S&P...
Exploration

Permit delays in Brazil could see Guyana emerge as deepwater winner for investments

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Oil companies operating in Brazil have long complained about delays getting drilling permits and environmental impact reports approved by the Brazilian Institute of Environment and Renewable Natural Resources (IBAMA). Just recently, S&P Global Platts reported that Brazil’s National Energy...
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Guyana’s President wants countrymen in Canada to return home to invest

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President of Guyana, Dr Irfaan Ali is urging Guyanese living in Canada to return home to invest as he signaled his Government’s commitment to ensuring an enabling environment for economic prosperity. Mr. Ali made the appeal at the weekend during...
News

This year was like no other for oil prices

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(Reuters) Even as global prices end the year at about $51 a barrel, near the average for 2015-2017, it masks a year of volatility. In April, U.S. crude plunged deep into negative territory and Brent dropped below $20 per...
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Oil’s brief rally fades

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(Bloomberg) A brief rally in crude oil deflated Monday as investors ignored a broader market surge that pushed equities to an all-time high and focused instead on looming new supply from OPEC+. Futures in New York were little changed in...
News

Saudi Aramco makes 4 new discoveries across Kingdom

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(Arab News) Saudi Arabia state oil company Saudi Aramco has discovered four new oil and gas fields in different locations around the country, the Kingdom’s energy minister said on Sunday, according to a Saudi Press Agency report. The fields were...
News

Oil prices climb higher as Trump signs aid bill

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(Reuters) - Oil prices edged higher on Monday after U.S. President Donald Trump signed a $2.3 trillion coronavirus aid and spending package, although lingering worries about near-term demand weighed on the market. Brent crude futures added 12 cents, or 0.2%,...
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Survey says Exxon is ‘Most Admired Explorer’ propelled by mega wins in Guyana

ExxonMobil has been named the most-admired upstream explorer in the world, according to Wood Mackenzie’s 2025 Exploration Survey, a...

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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