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India’s annual oil consumption falls for first time in 21 years

OilNOW -
(Bloomberg) India’s petroleum consumption fell for the first time in more than two decades in 2020 as the coronavirus pandemic shuttered businesses and factories, hurting demand from one of the world’s largest users of the fuel. Total petroleum demand declined...
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Guyana responds to new Venezuela decree

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President of Guyana Dr. Irfaan Ali on Saturday addressed the nation in response to a new decree issued by Venezuelan President Nicolas Maduro claiming sovereignty and exclusive sovereign rights in the waters and seabed adjacent to Guyana’s coast, west...
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Local Content Panel agreed policy should not lead to monopolies – Greenidge

OilNOW -
Following several rounds of consultations with industry stakeholders, Guyana’s Local Content (LC) Panel which was assembled September last by President Irfaan Ali to prepare recommendations for consideration by the Government, was in agreement that the nation’s policy should not...
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Guyana initiates meeting with Trinidad and Tobago to discuss trade barriers

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Just a month after Guyana’s President, Dr. Irfaan Ali, vowed to ensure that trade barriers between the new oil producing country and its CARICOM neighbours were removed, a virtual Joint Ministerial Trade and Agricultural Meeting with Trinidad and Tobago...
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Brazil approves 92 offshore blocks for 17th bid round, several potentially prolific like Guyana’s Stabroek

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(S&P Global Platts) Brazil's National Energy Policy Council, or CNPE, approved 92 offshore exploration and production concession blocks for sale at the country's pandemic-delayed 17th bid round set to be held in October, the National Petroleum Agency, or ANP,...
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Transnational oil companies looking to steal ‘Venezuela’s oil’ – Maduro claims in TeleSur report

OilNOW -
Venezuela’s President Nicolas Maduro has signed a presidential decree setting the country's maritime and territorial borders, TeleSur said in a report on Friday, noting that the move is to protect national jurisdiction rights, especially on the ‘disputed’ Essequibo territory. The Venezuela-based...
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Government welcomes start of Canje block campaign, Exxon expects to be on site for several weeks

OilNOW -
The Government of Guyana has welcomed the start of a new drill campaign off the country’s coast at the 4,800 sq km Canje block, which got underway on December 31. Natural Resources Minister Vickram Bharrat said exploration activity in this...
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Legal team amending Petroleum Commission bill

OilNOW -
The Legal Department of Guyana’s Ministry of Natural Resources is currently examining the Petroleum Commission bill to include several changes that were suggested by the new government. This disclosure was made by Attorney General and Minister of Legal Affairs, Anil...
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New Apache holding company will acquire Suriname, Dominican Republic subsidiaries

OilNOW -
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

OilNOW -
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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Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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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