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One dead, five injured after ingesting toxic liquid on Brazil-bound FPSO

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Dutch dredging and heavylift company Boskalis said in a statement on Thursday that an incident occurred earlier this week on board an FPSO which is currently being transported by the Vanguard from China to Brazil. During the journey a contractor, designated by...
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Guyana oil strikes help push global discoveries to 4-year high – Rystad Energy

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The world’s oil and gas explorers powered ahead and discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015, according to estimates from Rystad Energy. Last year recorded 26 discoveries of more than 100...
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Road ahead may be paved with money but will be bumpy

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As Guyanese prepare to go the polls on March 2, the country faces enormous challenges in the coming years to strengthen institutions and build capacity that would enable it to effectively manage oil revenue and avoid the pitfalls faced...
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Stabroek Block and the Liza oil field

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Spread over 26,800km² in Guyana’s offshore waters, the Stabroek Block is estimated to contain more than six billion barrels of oil equivalent as of 2019. Drilling has been ongoing to explore and evaluate other potential areas of the block. Liza...
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ExxonMobil moving to plug and abandon Gippsland Basin wells offshore Australia

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US oil major ExxonMobil is moving to plug and abandon five Whiting wells, located in the Gippsland basin offshore Australia in an exercise set to begin in March. The Noble Tom Prosser jack-up rig will permanently plug and abandon the...
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Potential for ‘prolific oil wells’ seen in historic discovery offshore Suriname

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Apache’s historic oil discovery offshore Suriname has opened a new chapter in the potential of the Guyana-Suriname basin which the US Geological Survey (USGS) has long said could contain more than 13.6 billion barrels of oil and 32 trillion...
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Explorers hopeful Suriname discovery signals extension of Stabroek mega oil play

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Explorers have been looking closely at the multi-billion-barrel oil resource at Guyana’s Stabroek Block with hopes that this prolific petroleum system stretches across to Suriname where efforts to find hydrocarbons offshore have been futile…until now. The discovery at Maka Central-1...
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Venezuelan oil exports fell by a third in 2019 as U.S. sanctions bit

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(Reuters) - Venezuela’s oil exports plummeted 32% last year to 1.001 million barrels per day, according to Refinitiv Eikon data and state-run PDVSA’s reports, as a lack of staff and capital drove output to its lowest level in almost...
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Oil surges as Iran says it attacks Iraq base housing U.S. troops

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(Bloomberg) - Oil futures surged in New York after Iran said it started attacks on an Iraqi airbase that hosts U.S. troops. Spot gold also jumped. West Texas Intermediate crude jumped as much as 4.4% to $65.48 a barrel on...
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Apache’s stock rockets toward biggest gain in nearly 50 years after company strikes oil offshore Suriname

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Shares of Apache Corp. on Tuesday surged toward their biggest one-day gain in nearly 50 years, after the oil-and-gas company announced a “significant oil discovery” off the shores of Suriname, MarketWatch said in a report. That prompted Bank of America...
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Energy Chamber Head urges Guyanese youths to embrace long-term opportunities in oil sector 

President of the Guyana Oil and Gas Energy Chamber (GOGEC), Manniram Prashad, has called on Guyanese youth to embrace...

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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