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IHS Markit: Guyana – the world’s newest oil producer

OilNOW -
In an environment of oil supply glut, a new player entered the scene. Guyana, a nation bordering Venezuela and Brazil - two countries with large oil reserves - has established itself as an oil producer as of December 20...
Exploration

Potential for giant oil and gas fields remains greatest on South America’s Atlantic margin

OilNOW -
The presence of giant oil and gas fields in South America, stretching all the way from the Santos basin in the south to the Guyana-Suriname basin to the north, have long been known, with estimates of tens of billions...
News

Demand for oil will remain above 100 million barrels per day – Aramco CEO

OilNOW -
The global demand for oil is expected to remain over 100 million barrels per day according to Saudi Aramco CEO Amin Nasser, signaling good news for new producers such as Guyana. “There is good penetration from renewables and electric cars...
Opinions

Oil was sick even before coronavirus hit

OilNOW -
(Bloomberg Opinion) -- Oil succumbed to the coronavirus this week because its immune system was compromised already. Amid headlines about quarantined Chinese cities and dozens of potential cases showing up in the U.S., Brent crude closed on Friday at $60...
News

‘Women in oil and gas’ summit set for June in Guyana

OilNOW -
A three-day summit focusing on the role of women in Guyana’s emerging oil and gas sector is set to take place in June at the Guyana Marriott Hotel, under the theme: First Oil, First Step Focusing on Women. The event,...
Opinions

Institutional mechanisms for Guyana’s natural resources wealth management

Bobby Gossai, Jr. -
Rules One possible solution to the problem of overspending is to remove the government's discretion over how natural resource wealth is spent. Most Natural Resource Funds (NRFs) are set up with conditions on how and when money can be withdrawn...
News

Brent logs worst weekly loss in a year as China virus fears swell

OilNOW -
(Reuters) Crude prices sank more than 2% on Friday and Brent logged its biggest weekly decline in more than a year as concerns that a coronavirus will spread farther in China, the world’s second-largest oil consumer, curbing travel and...
News

Offshore helicopter giant created with Bristow, Era merger

OilNOW -
Bristow Group Inc. and Era Group Inc. (NYSE:ERA) announced Friday that they entered into a definitive agreement to combine the two companies in an all-stock transaction, creating a financially stronger company with enhanced size and diversification. The combined company, which...
News

Brazil to stay out of OPEC to make the most of output expansion

OilNOW -
(Bloomberg) Brazil, which became a net oil exporter last year, wants to expand its footprint in global energy markets without joining OPEC. The South American nation expects to be among the top-five energy exporters by 2030, and is tapping private...
News

Extracting multi-billion-barrel oil resource at optimum pace key to maximising value – Exxon

OilNOW -
With several billion barrels of oil equivalent already discovered and the potential for more being found remaining high, developing the resources at optimum pace will ensure highest returns for the South American country of Guyana and the Stabroek Block...
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Guyana records US$3 billion trade surplus in Q1 2025, driven by oil exports

Guyana posted a trade surplus of US$3.01 billion in the first quarter of 2025, driven by crude oil exports,...

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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