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Curb in oil production pushes Guyana’s 4th crude lift back by a month – Bharrat

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The curb in oil production offshore Guyana to reduce the volume of gas being flared has resulted in a push back in the timeline for the country’s 4th million-barrel crude lift. ExxonMobil, operator at the Stabroek Block, had taken a...
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Oil down more than 1% as markets whipsawed by U.S. election uncertainty

OilNOW -
(Reuters) - Oil dropped on Thursday as Democrat Joe Biden edged closer to the White House in a nail-biting U.S. presidential election, but the Republicans look likely to retain Senate control, decreasing the chances of any huge COVID-19 relief...
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Guyana oil production will grow tenfold, contribute to uptick in S/America’s output – GlobalData

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Rapid development of oil fields offshore Guyana will result in production increasing tenfold in the coming years, and along with Brazil, will see South America’s output surpassing volumes coming from North America by 2024. While several projects in Brazil and...
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Bureaucracy, red tape must not obstruct O&G development in Guyana, Sea Defence Board hears

OilNOW -
One of the state boards responsible for the approval of shorebase and waterfront developments, and other such facilities, has been warned that bureaucracy and red tape must not impede Guyana’s development, as the country is on track to experience...
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Use O&G revenue to unlock infrastructure, human capital – urges private sector leader

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Guyana’s Private Sector Commission (PSC) Chairman, Nicholas Deygoo-Boyer says the billions of dollars expected from oil production should be used to help develop infrastructure and unlock the power of human capital in the South American country. In a recent virtual...
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Qatar using $40 oil price to formulate its budget

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(Bloomberg) --Qatar will base its budget on an oil price of $40 a barrel, below what markets expect, as the gas-rich Gulf nation seeks to reduce the impact on its finances, according to its ruler. The move will help Qatar...
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Hess sees more upside to Guyana’s 9 billion boe estimate, big potential in Santonian

OilNOW -
A further increase in the gross recoverable resources is anticipated at Guyana’s Stabroek Block, adding to the recently upgraded 9 billion boe estimate, according to Hess Corporation. Greg Hill, Chief Operating Officer, explained to investors on the company’s Q3 earnings...
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CARICOM examining role of Guyana’s hydrocarbon resources in regional energy security

OilNOW -
As the Guyana government presses on with plans for a natural gas power generation plant to provide cheaper and more reliable energy to its citizens, the Caribbean Community (CARICOM) Secretariat is also looking at how the country’s oil and...
News

Oil search to continue at Hassa-1, stem test planned for Redtail

OilNOW -
Activities offshore Guyana are set to ramp up in the coming months as the search for more oil continues and targets that have already hit pay, are scheduled to be assessed. Subsea construction for the second phase of oil...
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Liza Phase 2 hull, subsea work now 80% complete – Guyana production on track to surpass 300,000 bpd

OilNOW -
ExxonMobil’s giant Liza Phase 2 development offshore Guyana is on track to begin producing oil by early 2022 adding another 220,000 barrels of oil per day (bpd) at peak to the country’s output, which together with the 120,000 bpd...
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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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