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Exploration

Equinor comes up dry in Barents Sea

OilNOW -
Equinor Energy AS, operator of production licence 960, has come up dry at the wildcat well 7018/5-1 in the Barents Sea. The well was drilled about 100 kilometres southwest of the Snøhvit field, and about 195 kilometres west of...
Exploration

Brazil’s Petrobras could turn to Guyana for offshore acreage, CEO says

OilNOW -
(S&P Global) Brazilian state-led oil company Petrobras could turn to Guyana for access to acreage along South America's equatorial margin if local environmental regulators do not grant permits to drill in Brazil's Foz do Amazonas Basin, CEO Roberto Castello...
News

In a low oil price world fiscal terms will have to be competitive, but contracts must also be progressive – expert says

OilNOW -
The world is moving now faster than ever towards renewable energy sources and this along with other factors that impact the demand for oil means that going forward, prices are not likely to increase beyond $50 per barrel. This,...
News

U.S State Department supporting oil spill response preparation efforts

OilNOW -
With Guyana now being an oil producing nation that currently has one operational field within the multi-billion barrel Stabroek Block as well as two other slated to begin production by 2025, the country has placed keen focus on oil...
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...
News

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...
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Exxon hits 900,000 barrels of oil per day in Guyana as Yellowtail reaches full capacity

ExxonMobil Guyana today announced that the country’s daily oil production has reached a new milestone of 900,000 barrels per...

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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