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Guyana’s President wants countrymen in Canada to return home to invest

OilNOW -
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

OilNOW -
(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...
News

Oil’s brief rally fades

OilNOW -
(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

OilNOW -
(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

OilNOW -
(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%,...
News

Oil exports pushes Guyana’s trade balance to US$143 million in first half of 2020

OilNOW -
December 2019 saw the introduction of oil production in Guyana resulting in the goods trade balance moving from a deficit of US$627 million or 12.1% of GDP in the first half of 2019 to a surplus of US$143 million...
News

Guyana rakes in over US$180 million from oil exports this year, 4th cargo lifted this month

OilNOW -
Guyana has earned over US$180 million from oil exports this year. The country lifted its fourth and final cargo for 2020 earlier this month from the Liza Destiny FPSO representing its share of oil being produced by ExxonMobil at...
Production

Understanding the FPSO

OilNOW -
The FPSO (Floating Production Storage and Offloading) system is used extensively by oil companies for the purpose of storing oil from the oil rigs in the middle of the ocean and in the high seas. It is one of...
Exploration

Exxon conducted largest 3-D seismic survey in company’s history offshore Guyana

OilNOW -
By the time ExxonMobil acquired rights to explore the 6.6 million-acre Stabroek block 120 miles offshore Guyana, 22 wells, from as far back as the 1970s, had already been drilled by other companies on the coastal shelf outside the...
News

Big window of opportunity ahead for oil producers as major deficits loom

OilNOW -
Oil producers around the world, particularly in locations like Guyana, will soon have a window of opportunity as new analysis shows that 2021 could see monthly supply deficits reaching their highest level in years. Low breakeven prices and good quality...
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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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