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Factors to consider for a gas generation strategy for Guyana

Bobby Gossai, Jr. -
Natural gas generating capacity will form an integral part of Guyana’s future energy generation mix and it will be a reliable and flexible source of electricity. Using gas as a fuel in the power stations will provide a significant...
News

Stabroek reservoir quality, low break-evens continue to promise high returns for country, explorers

OilNOW -
In providing asset highlights during an investor presentation on February 11, Hess Corporation said the 16 discoveries made so far at the Stabroek Block offshore Guyana are characterized by exceptional reservoir quality and low development costs. The company holds...
News

Tullow gets approval from Ghana to flare gas

OilNOW -
(Bloomberg) -- Tullow Oil Plc said it received approval from Ghanaian authorities to flare gas when necessary to support its offshore fields. The permission will assist heavily indebted Tullow to support production at operations that failed to meet their initial...
News

Oil prices could fall much further as Russia refuses additional production cuts

OilNOW -
(Forbes) As 2019 came to a close, oil prices were under pressure from the continued surge of U.S. shale oil. Although OPEC and its partners had already cut production by more than 1 million barrels per day (BPD), U.S....
Exploration

First suspected coronavirus case on North Sea platform contained

OilNOW -
An offshore worker on a North Sea platform has been quarantined over concerns around the outbreak of the coronavirus Energy Voice said in a report on Friday. The worker, on board Taqa’s Tern Alpha installation 105 miles north-east of Shetland,...
News

Oil companies set to spend over US$53 billion at Stabroek Block in coming decade – Rystad Energy

OilNOW -
Recent discoveries in the Guyana-Suriname basin have proven a wider petroleum system and may cause an upgrade in resource estimates, drawing extra attention to upcoming wells. Meanwhile global oil firms are preparing to spend more than $53 billion in...
News

Policy calls for ‘first consideration of Guyanese’ in new O&G hotspot

OilNOW -
In making decisions concerning recruitment and procurement to execute petroleum activities, operators and their contractors in Guyana’s emerging oil and gas industry are expected to give first consideration to Guyanese persons having appropriate qualifications and experience, and to Guyanese...
News

SBM Offshore reports positive performance for 2019; Liza Destiny FPSO delivery is key milestone

OilNOW -
CEO of SBM Offshore Bruno Chabas said 2019 was a positive year for the company, noting that expectations for an offshore industry rebound materialized and coincided perfectly with the company’s readiness to meet demand. He also called the commencement...
Production

Global oil stocks to pile up as proposed OPEC cuts are no match for coronavirus induced surplus

OilNOW -
The coronavirus outbreak in China will curb global oil demand growth by at least a quarter this year, and the production cuts of 600,000 barrels per day (bpd) proposed by an OPEC+ committee are far from enough to balance...
Exploration

Total targeting up to 3 Guyana wells this year despite heavy crude encounters

OilNOW -
French oil company Total expects two to three new offshore wells to be drilled in Guyana this year, Chief Executive Patrick Pouyanne says. This is despite encountering heavy crude at two prospects last year, which brought into question their...
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CGX says Guyana government open to talks over cancelled Corentyne oil license

CGX Energy said on Friday that the Government of Guyana has indicated it may be open to talks in...

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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