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Exploration

Touchstone makes significant gas discovery in Trinidad and Tobago

OilNOW -
Touchstone Exploration Inc. said Thursday drilling at the Cascadura Deep-1 exploration well on the Ortoire exploration block onshore Trinidad and Tobago encountered significant hydrocarbon accumulations based on drilling and wireline log data. The Cascadura Deep-1 well was drilled to a...
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Guyana to be centre of drilling activity in ‘great ramp up’ of this decade – Kevin Ramnarine

OilNOW -
New oil producer Guyana is on an unprecedented growth trajectory that will see a rapid increase in aggregate demand for goods and services in the economy this decade which means the South American country must ensure it has the...
News

Guyana’s Central Bank mitigating risks, levelling playing field as country prepares for massive economic takeoff

OilNOW -
The Bank of Guyana (BoG), which is the central banking institution of the new oil producing nation, is undertaking several initiatives geared towards creating and maintaining a favourable and stable fiscal environment. This is being developed, particularly to cater...
News

World class oil and gas institute planned for Guyana, will also service the region – President Ali

OilNOW -
The Guyana government has commenced discussions for the establishment of a ‘world class’ oil and gas training institute in the South American country that would also serve the needs of the region. This was disclosed by President Irfaan Ali, during...
Exploration

Average discovery size at Stabroek block is 500 million boe with a record 90% success rate

OilNOW -
Since 2015, ExxonMobil has made 18 discoveries at the Stabroek block offshore Guyana with just two non-commercial encounters – Skipjack-1 and Sorubim-1 – which demonstrate a 90% exploration success rate in the prolific Guyana-Suriname basin. The 18 discoveries so far...
Exploration

Guyanese Diaspora targeted as first junior company in the world provides investor access to Canje, Kaieteur block exploration

OilNOW -
Westmount Energy Limited, a junior oil and gas company with investor interest in the highly prospective Canje and Kaieteur blocks offshore Guyana, began cross-trading on the OTCQB market in New York on Tuesday under the ticker symbol WMELF. OTCQB is...
News

World could face a 200 million-barrel oil glut through May if OPEC+ increases output

OilNOW -
As the world is aching to put an end to a devastating 2020, oil producers are now assessing the lasting effect of the pandemic into 2021 – and in particular, the consequences of oil demand destruction to global balances....
News

Local companies must move beyond ‘buying and selling’ and embrace innovation, inventiveness – Guyana President urges

OilNOW -
Guyana’s President, Dr Irfaan Ali has reaffirmed his Government’s commitment to ensure that local businesses are optimally involved in the oil and gas sector. The Head of State made this assertion during his address at the Guyana Oil and Gas...
News

Tankers with ‘hidden identities’ shipping oil out of Venezuela even as U.S. tighten sanctions

OilNOW -
(Bloomberg) --Venezuela almost tripled its crude oil exports even as the U.S. continues to tighten sanctions against companies seeking to do business with its ruling regime. Exports of oil surged to more than half a million barrels a day in...
News

Jail time for non-disclosure of oil revenues, Petroleum Commission with ‘independent board’, part of Guyana plans

OilNOW -
New oil-producing countries such as Guyana face the daunting challenge of transforming expected revenue windfalls into sustainable and inclusive economic development, notes the Inter-American Development Bank in a recent paper. Record discoveries and growing hydrocarbon reserves bring high prospects for...
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NewsShikema Dey -

Guyana hits record three-quarter million barrels of oil per day

Total offshore production from Guyana’s Stabroek Block has hit over 700,000 barrels of oil per day, President of ExxonMobil...

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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