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First oil will be catalyst for development if sector is managed effectively – Boyer

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Following the first ever commercial oil discovery in Guyana in May 2015, ExxonMobil and its co-venture partners HESS and CNOOC announced the commencement of oil production from the Liza Phase 1 development in the Stabroek Block offshore Guyana on...
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Liza Unity hull will sail to Singapore this month to begin topsides installation

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The hull for the 220,000 bpd Liza Unity FPSO is scheduled to leave the SWS Shanghai shipyard this month for Singapore where the topsides will be mounted ahead of the final sail away to Guyana, Offshore Energy said in...
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Oil prices ‘could make a run at $80’ if US-Iran conflict intensifies – analysts

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Oil prices could surge toward $80 a barrel if escalating geopolitical tensions disrupt Middle East crude supplies, analysts told CNBC on Friday, with energy market participants “on tenterhooks” after a U.S. airstrike killed key Iranian and Iraqi military personnel. International...
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Carapa is ‘important technical discovery’ – Tullow Oil

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The data being gathered from the results of drilling, wireline logging, pressure testing and sampling of reservoir fluid at the Carapa-1 exploration well offshore Guyana will have positive implications for both the Kanuku and Orinduik blocks, according to UK-based...
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Companies investing big in South America’s massive offshore oil fields – Canary, LLC CEO

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Large sums of monies are being invested in bringing massive oil fields in Guyana and Brazil to development which will help to add significant volumes to South America’s production output in the new decade. In an op-ed published on Forbes,...
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Guyana tax agency looking to fill positions for O&G unit

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The Guyana Revenue Authority (GRA) is advertising for a number of positions for its planned petroleum department as the agency looks to boost capacity in the new South American oil producing nation. “The Guyana Revenue Authority is spearheading an exciting...
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Oil prices surge after US attack kills top Iran military leader

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Oil prices jumped more than 4 percent on Friday after senior Iranian and Iraqi military personnel were killed in a United States air raid near Baghdad Airport, raising concerns that escalating Middle East tensions may disrupt oil supplies. Brent crude...
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‘Big uncertainty’ over US oil output in 2020 will be critically important to oil prices – analysts

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The question of how much crude U.S. producers may be able to add in 2020 could be pivotal for oil prices this year, analysts told CNBC, while warning of the potential for “vicious corrections” in the coming months. Speaking to...
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Former Schlumberger CEO elected to Oxy Board

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Occidental Petroleum Corporation (NYSE: OXY) said Thursday Andrew Gould, former Chairman and Chief Executive Officer of Schlumberger Limited, has been elected to its Board of Directors effective March 1, 2020. Mr. Gould has more than 40 years of experience in...
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Tullow’s shares tumble on news of ‘below expectations’ Guyana oil find

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The release of drilling results by Tullow Oil on Thursday from its Carapa-1 well offshore Guyana saw the company’s shares tumbling on what analysts are saying is unlikely to be a commercial discovery. The oil and gas group’s share price...
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MODEC completes delivery of Errea Wittu topsides modules with zero carry-over work

MODEC said it has successfully completed and delivered the Errea Wittu FPSO topsides modules at the BOMESC yard 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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