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Iran seizes oil tanker, announces plans to increase nuclear activities

OilNOW -
(Bloomberg) -- Iran seized a South Korean-flagged oil tanker in the Strait of Hormuz hours before announcing it would increase its nuclear activities, as tensions in the region mount in the final days of Donald Trump’s U.S. presidency. The Islamic...
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Despite challenges Guyana emerges from 2020 as major player in oil and gas universe

OilNOW -
2020 was another eventful year for the exploration and production activities offshore Guyana led by U.S. oil major ExxonMobil at the prolific Stabroek block. The year started with Guyana’s first oil lift, the announcement of another discovery in January...
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UAE’s SNOC, Eni produce first gas from Mahani field a year after discovery

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(S&P Global) The UAE's Sharjah National Oil Corp. and Eni have produced first gas from the Mahani field in Sharjah, one year after they announced the first onshore discovery in the country's third largest emirate in 37 years, the...
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Oil prices touch multi-month highs

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(Reuters) -Oil prices touched multi-month highs on Monday on expectations OPEC and allied producers may cap output at current levels in February and on hopes that coronavirus vaccines may help curb the spread of the virus and drive a...
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Gas to power project: outsiders always say it’s too expensive, you can’t do it

OilNOW -
The proposed gas to power project in Guyana can potentially have the single most transformative impact on the new oil producing country, promising significant benefits to the population. Most notable is that there are no technical barriers that prevent...
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Canada Guyana Chamber looking to ramp up activities in 2021

OilNOW -
Chief Executive Officer (CEO) of the Canada Guyana Chamber of Commerce (CGCC), Ms. Natalia Seepersaud, said the organisation will be looking to ramp up its activities in 2021 as pandemic restrictions ease and more focus is placed on business-to-business...
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Venezuelan oil exports slump to 71-year low in 2020

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(Bloomberg) Venezuelan oil exports plummeted this month as U.S. sanctions have left some of the South American country’s cargoes stranded in Asia and competition with fellow OPEC+ members is set to heat up. A linchpin of the Venezuelan economy, the...
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Trinidad made list of errors to avoid; then committed all – Dr. Hosein

OilNOW -
In an effort to ensure it did not suffer the fate of many resource rich countries around the world, Trinidad and Tobago carefully outlined the errors that should be avoided in the management of petroleum revenue; but then proceeded...
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Russian annual oil output falls for the first time since 2008

OilNOW -
(Reuters) - Oil production in Russia declined last year for the first time since 2008 and reached its lowest level since 2011 following a global deal to cut output and sluggish demand caused by the coronavirus, statistics showed on...
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Brazil moving to implement reforms to lure investors as competition from countries like Guyana rise – S&P Global Platts

OilNOW -
Mature oil producer Brazil is looking to implement important oil industry reforms in 2021 to remain one of the world's top destinations for investments amid heated global competition and uncertainties about the coronavirus pandemic. S&P Global Platts said in a...
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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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