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Warnings of looming supply gap intensify – Guyana production set to take-off

OilNOW -
Warnings about a looming oil and gas supply gap continue to increase with a new report pointing out that the oil and gas industry will have to overcome its pandemic-induced retrenchment and boost investment by at least 25% annually...
News

EU joins calls for diversified economy as Guyana’s O&G sector balloons

OilNOW -
European Union Ambassador to Guyana Mr. Fernando Ponz Canto has joined the call for the South American country to diversify the economy and ensure that it does not become reliant on just the oil and gas sector. He made these...
News

Diversification in energy sector will help Guyana realize green economy dream – U.S. Ambassador

OilNOW -
While the plans of the People’s Progressive Party/Civic (PPP/C) administration to pursue regulatory reform for the oil sector while simultaneously improving the energy grid is indeed commendable, U.S. Ambassador to Guyana, Sarah-Ann Lynch, is of the view that diversification...
News

Petronas and ExxonMobil hit pay at Sloanea-1 offshore Suriname

OilNOW -
Petronas through its subsidiary, Petronas Suriname E&P B.V. (PSEPBV) announced Friday that it made its first discovery of hydrocarbon in Suriname with the successful drilling of the Sloanea-1 exploration well located in Block 52. PSEPBV is the operator of Block...
News

ICJ set to deliver judgement on question of jurisdiction in Guyana, Venezuela border case

OilNOW -
The International Court of Justice (ICJ) announced on Thursday it will deliver its Judgment on the question of its jurisdiction in the case concerning the Guyana v. Venezuela Arbitral Award of October 3, 1899, on Friday, December 18, 2020. The...
News

Several Shell executives quit over disagreements with push towards energy transition

OilNOW -
Disagreements over how far and fast Royal Dutch Shell should shift towards renewables have seen several clean energy executives part ways with the company, the Financial Times said in an article on Tuesday. Shell has said it is investing more in...
Exploration

Development of Guyana’s mega oil fields crucial as major shortfall in world supply expected

OilNOW -
Global oil reserves are not being replenished with enough conventional resources for future demand of oil and gas and this is set to create a major shortfall through 2050 despite lower future demand due to the coronavirus pandemic and...
News

Oil edges above $49 as vaccine spurs hopes of faster demand recovery

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(Reuters) - Oil rose above $49 a barrel on Thursday as hopes of a faster demand recovery after the release of COVID-19 vaccines offset a huge rise in U.S. crude inventories that showed supply remains ample. Britain began vaccinations this...
News

O&G companies playing major role in Guyana oil spill preparedness efforts – CDC

OilNOW -
With Guyana lacking the capacity to adequately respond to large oil spills--that is, Tier Two and Tier Three spills--local companies have been playing an important role in oil spill response preparedness efforts. The National Oil Spill Contingency Plan indicates that...
News

Exports set to jump to 1.24 mil b/d for Africa’s largest holder of crude reserves – Platts

OilNOW -
(S&P Global Platts) Libyan crude and condensate exports are poised to jump to a 13-month high of 1.24 million b/d this month, according to S&P Global Platts estimates compiled using data from shipping and trading sources. This comes as Libya's...
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Exxon says U.S. senators were misled; no Guyana tax credits included in its 2023 & 2024 filings

President of ExxonMobil Guyana, Alistair Routledge, has rejected claims that the company benefited from tax credits in Guyana for...

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