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High-cost oil producers can lose market share to strong emerging player Guyana – Lisa Viscidi

OilNOW -
With approximately 9 billion barrels of oil equivalent and counting, Guyana is forging ahead as a major oil producer with experts saying the country is on course to become one of the largest sources of non-OPEC oil supply in...
News

‘We must not remain a rich country of poor people’ Guyana President affirms in new year’s message

OilNOW -
President of Guyana, Dr. Irfaan Ali says 2021 will be the springboard from which the new oil producing country will leap into recovery, rebuilding its economy and enhancing the health and well-being of its more than 750,000 people. Mr. Ali...
News

Exxon signals up to $20 billion asset write-down

OilNOW -
(Reuters) -Exxon Mobil Corp signaled in a regulatory filing that higher oil and gas prices and improved chemicals margins would aid fourth quarter results, but the gains would be overshadowed by an up to $20 billion asset write-down. The largest...
Discoveries

Guyana could find more oil, and closer to shoreline

OilNOW -
Experts in the oil and gas industry believe that more oil could be discovered closer to Guyana’s shoreline in the coming years with one official saying that the hydrocarbon resources found at the Stabroek block so far is just...
News

Crude oil markets lost a fifth of their value in 2020 but prices are rebounding

OilNOW -
(Reuters) - Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralysed much of the global economy, but prices have rebounded strongly from their lows as governments rolled out stimulus. On...
Exploration

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

OilNOW -
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...
News

T&T has been slow in moving to capitalise on Guyana oil discoveries – former trade minister

OilNOW -
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...
News

Touchstone extends lease agreements for Trinidad acreage

OilNOW -
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...
News

Oil futures rise on news of decreases in inventories

OilNOW -
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

OilNOW -
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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Latest News

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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