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Exploration

Canada-based energy company inks deal to sell TT gas

OilNOW -
Touchstone Exploration said on Monday after markets closed that it had inked a deal for the sale of natural gas and gas liquids produced from the Ortoire block in Trinidad and Tobago. The Canada-based oil and gas explorer said it had signed...
News

Guyana’s 65-day election could be over in another 25

OilNOW -
South America’s newest oil producer Guyana could be moving to finally conclude its presidential election which took place on March 2. A recount of all the votes cast is set to get underway today on the outskirts of the...
News

Plans to ramp up production to 340,000 bpd by 2022 on schedule – Energy Department

OilNOW -
The giant Liza Phase 2 Development Project offshore Guyana remains on course for production startup in 2022, the country’s Department of Energy (DE) has said. Liza Phase 2 will have a production rate of up to 220,000 barrels of oil...
News

Oil prices fall as rising U.S. inventories reassert supply concerns

OilNOW -
Oil prices fell on Wednesday, ending a multi-day streak of gains, as investors focused on oversupply risks after U.S. crude inventories rose more than expected amid a slump in demand caused by restrictions to halt the coronavirus spread. According to...
News

Venezuela crude output keeps sliding, fields shut due to fire damage

OilNOW -
Venezuela’s oilfields produced 687,000 barrels of crude last Saturday, up from 653,000 barrels on Friday but below the 718,000 barrels per day (bpd) the country said it produced in March, according to documents seen by Reuters on Monday. The drop...
News

Guyana much closer to selecting firm for 2D, 3D seismic survey of offshore blocks

OilNOW -
After receiving seven applications and completing a significant portion of the evaluation process, Director of the Energy Department, Dr. Mark Bynoe has disclosed that Guyana is just a few steps away from declaring the company that will be conducting...
News

Equatorial Guinea grants two year extensions on oil & gas exploration

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(Reuters) - Equatorial Guinea has granted oil and gas companies two-year extensions on their exploration programmes, a statement from the hydrocarbons minister said. The move is an effort to keep investments flowing into the nation’s energy industry amid a historic...
Production

Oil storage not an issue for Guyana at this point but all options being considered

OilNOW -
Even though global oil storage space continues to come under immense pressure following depressed demand, the situation is not one that has affected Guyana at this point. Be that as it may, nothing is being left to chance says...
News

Production at Liza Phase 1 expected to hit 120,000 barrels per day by June – Dr. Bynoe

OilNOW -
Oil production from the Liza Phase 1 Development is expected to reach its full capacity of 120,000 barrels per day by early June according to the Director of the Department of Energy in Guyana, Dr. Mark Bynoe. He told reporters...
Opinions

Protracted elections could see Guyana losing hundreds of millions from delay in project approvals

OilNOW -
By Kevin Ramnarine - OilNOW  Last Friday, in presenting its first quarter 2020 results, Exxon mentioned that the Payara project would be delayed by at most twelve months and the target of 750,000 barrels of oil per day (bopd) production...
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Stabroek Block is oil industry’s biggest find in 15 years – Exxon CEO

ExxonMobil’s Chief Executive Officer, Darren Woods, says the Stabroek Block offshore Guyana is the industry’s biggest oil discovery in...

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