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High costs of transitioning to renewables give Guyana more time to monetize oil – AMI Analyst

OilNOW -
Despite the economic attractiveness of Guyana’s oil sector, the Inter-American Development Bank (IDB) recently issued a warning that the nation’s window of opportunity to properly govern the industry as well as monetize its resources in an efficient manner is...
News

Brazil’s Petrobras targets oil output of 2.7 million b/d by 2025

OilNOW -
(S&P Global) Brazilian state-led oil company Petrobras plans to spend $55 billion over the next five years to develop subsalt fields that will boost the company's crude oil output nearly 20% to 2.7 million b/d by 2025, the company...
News

Energy, infrastructure take centre stage in high-level Guyana, Brazil meeting

OilNOW -
Guyana’s President, Dr Irfaan Ali on Thursday announced an amplification in bilateral relations between Guyana and Brazil after a meeting among high level government officials from both countries, the Office of the President said in a press statement. The Guyanese...
Exploration

Tullow says Suriname well campaign on schedule for Q1 2021

OilNOW -
Preparations are on schedule for the first well targeted for 2021 by Tullow Oil in the highly prospective Suriname basin where US multinational Apache has already made three discoveries. “In Suriname, the prospective Goliathberg-Voltzberg North-1 well is on schedule to...
News

Bulk of oil supply next 20 years will come from ‘advantaged barrels’ – Guyana now has over 9 billion

OilNOW -
Whatever the pace of the energy transition, the world will still rely on oil and gas for much of its energy needs until well beyond 2040. UK-based global energy group Wood Mackenzie says exploration will be critical in meeting this future...
News

Guyana is now the destination of choice for oil and gas companies, investment chief says

OilNOW -
Investors and governments from around the world have been discussing various opportunities with Guyanese authorities in recent months that could potentially see hundreds of billions of dollars being plugged into South America’s newest oil and gas hotspot. Chief Executive Officer...
News

Guyana’s President addresses Suriname’s National Assembly

OilNOW -
Guyana’s President, Dr. Irfaan Ali delivered an address this week at the Extraordinary Session of the National Assembly of the Republic of Suriname on the occasion of the country’s 45th Independence Anniversary. See Mr. Ali’s address below: Honourable Chairman of...
News

Tullow to plug over 90% of expenditure in West Africa, will continue to evaluate Guyana acreage

OilNOW -
UK-based Tullow Oil will be unveiling a new strategy and plan to generate c. $7 billion of operating cashflow over the next 10 years with over 90% of its future capital expenditure focusing on the company’s West African producing...
News

Joint billion-dollar-plus Guyana-Suriname deepwater harbour on the cards

OilNOW -
With massive volumes of hydrocarbons being found in the Guyana-Suriname basin in recent years, development of these resources will require significant shorebase support services which leaders of both countries believe can be established by way of a joint initiative. The...
News

Orinduik block partners reviewing multiple light, sweet targets for 2021 drill plans

OilNOW -
Eco (Atlantic) Oil and Gas Ltd announced Tuesday via its unaudited results for the six months ended September 30, 2020, that multiple light, sweet, oil drilling prospects are currently being reviewed for the next drilling programme at the Orinduik Block....
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Ali names 25-member cabinet; Vickram Bharrat back at oil ministry

President Irfaan Ali of Guyana unveiled 25 ministerial Cabinet appointees on Saturday evening, as the government embarks on its...

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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