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Use O&G revenue to unlock infrastructure, human capital – urges private sector leader

OilNOW -
Guyana’s Private Sector Commission (PSC) Chairman, Nicholas Deygoo-Boyer says the billions of dollars expected from oil production should be used to help develop infrastructure and unlock the power of human capital in the South American country. In a recent virtual...
News

Qatar using $40 oil price to formulate its budget

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(Bloomberg) --Qatar will base its budget on an oil price of $40 a barrel, below what markets expect, as the gas-rich Gulf nation seeks to reduce the impact on its finances, according to its ruler. The move will help Qatar...
News

Hess sees more upside to Guyana’s 9 billion boe estimate, big potential in Santonian

OilNOW -
A further increase in the gross recoverable resources is anticipated at Guyana’s Stabroek Block, adding to the recently upgraded 9 billion boe estimate, according to Hess Corporation. Greg Hill, Chief Operating Officer, explained to investors on the company’s Q3 earnings...
News

CARICOM examining role of Guyana’s hydrocarbon resources in regional energy security

OilNOW -
As the Guyana government presses on with plans for a natural gas power generation plant to provide cheaper and more reliable energy to its citizens, the Caribbean Community (CARICOM) Secretariat is also looking at how the country’s oil and...
News

Oil search to continue at Hassa-1, stem test planned for Redtail

OilNOW -
Activities offshore Guyana are set to ramp up in the coming months as the search for more oil continues and targets that have already hit pay, are scheduled to be assessed. Subsea construction for the second phase of oil...
News

Liza Phase 2 hull, subsea work now 80% complete – Guyana production on track to surpass 300,000 bpd

OilNOW -
ExxonMobil’s giant Liza Phase 2 development offshore Guyana is on track to begin producing oil by early 2022 adding another 220,000 barrels of oil per day (bpd) at peak to the country’s output, which together with the 120,000 bpd...
News

Oil falls 4% on fuel demand concerns as Europe widens COVID-19 lockdowns

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(Reuters) - Oil prices fell 4% on Monday on worries that widening coronavirus lockdowns in Europe would weaken fuel demand and amid concerns about turbulence over this week’s U.S. presidential election. Brent crude futures for January dropped $1.49, or 3.9%,...
Exploration

Staatsolie CEO sees big benefits for Guyana and Suriname from natural gas

OilNOW -
Large volumes of associated natural gas discovered with oil off the coast of both Guyana and Suriname can play a major role in the transformation of these neighbouring countries which are now moving to develop their deepwater hydrocarbon resources....
News

Guyana’s First Lady tours country’s largest O&G shore base facility, makes employment pitch for differently-abled persons

OilNOW -
Guyana’s First Lady Arya Ali toured the country’s largest shore base facility servicing the offshore exploration and production operations on Friday, where she discussed matters related to the environment and employment. In recognizing the pivotal role the country’s oil and...
News

Eni gets greenlight from US authorities to offload crude from tilting oil tanker

OilNOW -
The Energy Chamber of Trinidad and Tobago said in an update on Friday that Italian-based multinational oil company, ENI has been given the green light from the United States to offload crude oil from the Nabarima FSO, without breaking...
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U.S. Senator presents bill to strengthen security cooperation with Guyana amid Venezuela threats

United States Senator Michael Bennet (Democrat, Colorado) has proposed new legislation aimed at enhancing security cooperation with Guyana, deterring...

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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