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Biden Presidency will set US on course to achieve climate change goals by 2050 – Wood Mackenzie

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Following his defeat of incumbent Donald Trump in the 2020 United States presidential election, many industry analysts have begun examining the consequences of a Joe Biden presidency on the US Energy sector. In its most recent analysis, global energy...
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Investors pouring in ‘almost every single day’ into South America’s newest hot spot – oil minister

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Investor interest in the South American country of Guyana, now an emerging regional oil producing powerhouse, is at an all-time high with the country’s oil minister saying meetings with government officials are being sought on an almost daily basis. “Almost...
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Shipping corporation in Guyana urged to use waterside assets to cash in big from O&G opportunities

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The Guyana National Shipping Corporation (GNSC) is being urged by authorities to position its waterside commercial facilities to benefit from the growing business opportunities in the new oil producing nation. Speaking at the recent swearing in of the GNSC Board...
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Westwood expects 2020 to close off with flurry of contract awards, Exxon’s Payara to push uptick

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Sanctioning of the Payara Development offshore Guyana has been driving several contract awards and confirmations with companies in the oil and gas industry ranging from vessel construction to subsea installation. The US$9 billion project was approved by Guyanese authorities in...
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Award of Kaieteur, Canje blocks free from corruption- Vice President

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Guyana’s Vice President, Dr. Bharrat Jagdeo, said on Friday the award of the Kaieteur and Canje blocks offshore the South American country was in keeping with the nation’s laws and that no evidence of corruption has been found to...
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Guyana finalizing Qatar Petroleum entry into offshore blocks – Bharrat

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Authorities in Guyana are in the process of finalizing arrangements for Qatar Petroleum’s entry into offshore blocks in what is another major development in the South American country’s emerging oil and gas industry. Back in July 2019, Qatar Petroleum announced...
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CGX submits applications to relinquish portions of Demerara, Corentyne & Berbice blocks

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In compliance with the petroleum agreements it signed with the Government of Guyana as well as the nation’s laws, CGX Energy Inc. has submitted applications to relinquish 25 percent of its Demerara, Berbice and Corentyne Blocks. According to the company’s...
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Apache lines up 5th exploration well in Suriname as priority shifts to South America

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U.S. based Apache Corporation has selected its 5th exploration well offshore Suriname at the prolific Block 58 where it has already made three discoveries and is now moving forward with appraisal drilling. The company said on its Q3 2020...
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IMF urges Mexico state oil company to urgently overhaul its business strategy

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(S&P Global) Pemex needs a complete overhaul that includes modifications to its business strategy and reforms to its governance and procurement as the state oil company puts a drag on the Mexico's growth, the International Monetary Fund said. Despite missing...
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ExxonMobil to conduct oil spill response maintenance activity for Guyana operations

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ExxonMobil Guyana announced Thursday via its facebook page that it will be conducting planned maintenance on equipment used for oil spill response operations over the duration of five days, beginning November 5. “This maintenance activity will involve deploying some offshore...
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Staatsolie approves commercial field for Sloanea-1 gas discovery in Suriname’s Block 52

Staatsolie Maatschappij Suriname N.V. has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname....

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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