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Guyana on verge of first oil and new era of hope

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Barring unfavourable weather conditions or other factors that could result in a delay, the South American country of Guyana could now be just weeks away from producing its first barrel of oil, thereby ushering in a new era of...
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SBM Offshore moving ahead with 2 more hulls under Fast4Ward® programme

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SBM Offshore said Thursday it has signed contracts for the construction of the Company’s fourth and fifth hulls under its purchase program for Fast4Ward® new build multi-purpose hulls. The contracts were signed with Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd....
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OPEC and allies agree to deepest oil output cuts in a decade

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OPEC and allies led by Russia on Thursday agreed one of the deepest output cuts this decade to support crude prices and prevent a glut but were still debating how long the curbs would last next year. The Organization of...
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Risky business: 50 O&G companies filed for bankruptcy in first 9 months of 2019

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According to the law firm Haynes and Boone, 50 energy companies filed for bankruptcy in the first nine months of 2019. These include 33 oil and gas producers, 15 oilfield services companies, and two midstream companies. Market Realist said in...
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Brazil, Guyana stand out with huge ongoing investments in oil developments – WoodMac

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South American neighbours Brazil and Guyana are experiencing unprecedented investments in oil developments that will see production from these countries ballooning in coming years to more than 2.5 million b/d by 2025. Industry analyst Wood Mackenzie says the global deepwater...
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Guyana among countries set to push non-OPEC production

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Combined oil production from non-OPEC countries such as Guyana is expected to grow at record speed in 2020, creating a headache for the Organization of the Petroleum Exporting Countries (OPEC), which is scheduled to meet this week in Vienna...
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Guyana expected to remain in good position to drive future oil production – IHS Markit

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The South American country of Guyana, buoyed by consistent exploration success, is expected to remain in a good position to drive future hydrocarbon production while continuing to attract foreign investments. Exploration activity in Guyana has been concentrated in the Stabroek...
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Investors urge Big Oil to follow ‘poster child’ Repsol’s climate pledge

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(Reuters) - Investors cheered Spanish group Repsol’s pledge to slash net carbon emissions to zero by mid-century, saying they hope it will pile pressure on rival oil and gas companies to follow suit in the fight against climate change. The...
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Apache’s stock plunges to 18-year low on Suriname well disappointment

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Shares of Apache Corp. plunged on Monday, closing at the lowest price seen in 18 years, after the oil and natural gas producer provided a disappointing update of its first exploratory well in Block 58 offshore Suriname. MarketWatch said on...
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Indian energy-based company seeking Guyanese joint venture

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Uttam Energy Limited (UEL), based in Pune, Maharashtra, India is seeking a joint venture with companies in the civil construction industry in Guyana. The company says it offers “the highest quality, most technologically advanced, and the most reliable solutions” in...
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Keystone Consulting debuts at OTC: set to deliver grounded market intelligence on Guyana, region 

Houston, Texas, United States - Keystone Consulting (Guyana) Inc., a new research, marketing, and business intelligence firm, was officially...

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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