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Exploration

Gulf of Mexico trails Guyana for most prospective offshore region

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US oil major ExxonMobil’s record 14 discoveries in Guyana which amount to more than 6 billion barrels of oil resource has placed the small South American country at the top of the list for prospective offshore regions in the...
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Maduro holds talks with U.S. creditors in a push to end embargo

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(Bloomberg) President Nicolas Maduro of Venezuela, dismissed as a goner after the U.S. put its weight behind his political rival and crippled his government with sanctions, is offering an unorthodox payback to Wall Street creditors as part of a...
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Oil prices surf near three-month highs

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(Reuters) - Oil prices remained atop three-month peaks on Thursday, extending a robust streak that began a week ago, as thawing trade relations between the United States and China supported global markets. Brent crude futures edged up 8 cents to...
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American Airlines now flying direct from NY to South America’s newest O&G hotspot

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US-based American Airlines on Wednesday officially began direct flights from New York (NY) to the South American country of Guyana, now on the verge of becoming a major oil producer in the region. The new service will be operated daily...
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Guyana light sweet crude could fetch higher price as JP Morgan bumps up Brent futures

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JP Morgan on Tuesday raised its oil price outlook and forecast supply-demand balance to tighten next year against the backdrop of the OPEC and its allies increasing output cuts and stronger economic growth in emerging markets, Reuters said in...
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Israel’s Ratio sees $250 million revenue from Leviathan in 2020

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Ratio Oil Exploration 1992 LP, one of the companies developing Israel’s largest natural gas field, expects the long-awaited project to give it about $250 million of revenue next year, Bloomberg said in a report on Tuesday. The energy explorer, which...
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Local Content Policy close to completion

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The much-anticipated Local Content Policy (LCP) that would set the framework within which companies in Guyana’s oil and gas sector are expected to operate, is closer to finalization. Director of the country’s Department of Energy (DE) Dr. Mark Bynoe made...
Exploration

BP takes Maersk Drilling for three-well campaign offshore Trinidad

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Maersk Drilling has secured a three-well contract for the semi-submersible rig Maersk Discoverer with BP for development drilling at the Matapal project offshore Trinidad and Tobago. Maersk said Monday the contract has an estimated duration of 322 days and is...
News

Drilling continues at Carapa prospect – results expected this month

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The search for hydrocarbons continues at the Carapa—1 prospect located in the Kanuku block offshore the South American country of Guyana, with results expected over the next several days. “Repsol is currently focused on drilling the Carapa exploration well with...
News

Bidders for lifting Guyana oil cargo include Exxon, Chevron

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Several international oil companies including majors such as ExxonMobil and Chevron are bidding for the opportunity to lift Guyana’s first share of oil cargoes from the Liza field at the Stabroek Block early next year, the country’s Department of...
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Welligence says Chevron must tread carefully operating in Guyana because of border controversy 

Following the closure of the Chevron-Hess merger, market intelligence firm Welligence is advising that Chevron, now holding a 30%...

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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