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Stabroek Block co-venturer CNOOC gets green light for Canada drill campaign

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Canada’s federal government has approved a new offshore exploration drilling project proposed by the China National Offshore Oil Corporation (CNOOC) set to begin in the Flemish Pass Basin — about 400 kilometres east of Newfoundland and Labrador, CBC said...
Featured

Energy department warns of unrealistic expectations and promises in face of national elections

OilNOW -
As Guyana is approaching national elections, the Director of the country’s Department of Energy (DE), Dr. Mark Bynoe said the Department is cognizant of unrealistic expectations with regards to Local Content. Addressing the Guyana Manufacturing and Services Association’s (GMSA) Annual...
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ExxonMobil in talks with Guyana government to establish financing facility for small business

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ExxonMobil and the Government of Guyana are examining ways in which a financing facility could be established to provide much-needed capital to small and micro enterprise in the South American country. Speaking at a dinner hosted by the Guyana Manufacturing...
Exploration

Gulf of Mexico trails Guyana for most prospective offshore region

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US oil major ExxonMobil’s record 14 discoveries in Guyana which amount to more than 6 billion barrels of oil resource has placed the small South American country at the top of the list for prospective offshore regions in the...
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Maduro holds talks with U.S. creditors in a push to end embargo

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(Bloomberg) President Nicolas Maduro of Venezuela, dismissed as a goner after the U.S. put its weight behind his political rival and crippled his government with sanctions, is offering an unorthodox payback to Wall Street creditors as part of a...
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Oil prices surf near three-month highs

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(Reuters) - Oil prices remained atop three-month peaks on Thursday, extending a robust streak that began a week ago, as thawing trade relations between the United States and China supported global markets. Brent crude futures edged up 8 cents to...
News

American Airlines now flying direct from NY to South America’s newest O&G hotspot

OilNOW -
US-based American Airlines on Wednesday officially began direct flights from New York (NY) to the South American country of Guyana, now on the verge of becoming a major oil producer in the region. The new service will be operated daily...
News

Guyana light sweet crude could fetch higher price as JP Morgan bumps up Brent futures

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JP Morgan on Tuesday raised its oil price outlook and forecast supply-demand balance to tighten next year against the backdrop of the OPEC and its allies increasing output cuts and stronger economic growth in emerging markets, Reuters said in...
News

Israel’s Ratio sees $250 million revenue from Leviathan in 2020

OilNOW -
Ratio Oil Exploration 1992 LP, one of the companies developing Israel’s largest natural gas field, expects the long-awaited project to give it about $250 million of revenue next year, Bloomberg said in a report on Tuesday. The energy explorer, which...
News

Local Content Policy close to completion

OilNOW -
The much-anticipated Local Content Policy (LCP) that would set the framework within which companies in Guyana’s oil and gas sector are expected to operate, is closer to finalization. Director of the country’s Department of Energy (DE) Dr. Mark Bynoe made...
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Improvements in infrastructure, productivity pushing Guyana’s non-oil GDP – IMF

Guyana’s oil sector is projected to account for a slightly smaller share of the country’s economy in 2025 for...

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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