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Mauritania now ties Guyana for 2nd most discovered volumes this year

OilNOW -
On Monday BP announced a major gas discovery, Orca-1, off the coast of Mauritania, which Rystad Energy says is the deepest and largest discovery so far this year. The Norway-based energy research and business intelligence company estimates Orca-1 holds...
Exploration

World ‘awash’ in oil says US Energy Secretary

OilNOW -
(Bloomberg) Global markets are “awash” in crude thanks to the surge in U.S. oil output, and the boom looks set to continue, U.S. Energy Secretary Rick Perry said in a Bloomberg TV interview. U.S. shale production has turned the world...
News

Algeria looking to reintroduce PSAs to boost O&G investments

OilNOW -
Algeria has recently introduced a new hydrocarbons law bill whose goal is to increase the attractiveness of its petroleum fiscal framework after years of reduced foreign investment in the oil and gas sector. However, like Guyana, success in establishing...
Exploration

Halliburton, Repsol sign cloud data management deal for exploration and production

OilNOW -
Halliburton Company (NYSE: HAL) announced on Monday a multi-year agreement with Repsol to provide a cloud-based master data management solution for exploration and production (E&P) activities. The software as a service enables users to load, ingest, manage and access...
News

BP’s gas discovery in Mauritania is largest for 2019

OilNOW -
Oil major BP’s major gas discovery at the Orca-1 exploration well, which is located in the BirAllah area in Block C8 offshore Mauritania, could be the largest deepwater find this year. The well, located in the BirAllah development, was drilled...
News

Small oil-and-gas companies get cold shoulder from large banks

OilNOW -
(Reuters) - The largest banking lenders to the oil and gas sector are becoming more cautious, marking down their expectations for oil and gas prices that underpin loans in a move expected to put further financial stress on struggling...
News

Guyanese companies aiming to maximise participation in GIPEX 2019

OilNOW -
As the local business community in South America’s newest oil and gas hotspot continue to position itself for growing opportunities in the emerging petroleum industry, efforts are being made to ensure participation in the country’s largest oil conference is...
News

Brazil leads globally in FPSO deployments

OilNOW -
Brazil continues to drive global floating production storage and offloading vessels (FPSOs) deployment with 21 planned and announced FPSOs during the period 2019 to 2025, according to GlobalData. Brazil is expected to deploy a total of 11 planned and ten...
Opinions

Critical legal and institutional issues for Guyana’s natural resources’ revenue management

Bobby Gossai, Jr. -
In principle, oil or mineral revenues could be handled like any tax or other receipts, placed in Treasury accounts, and allocated in accordance with normal budgetary process. However, in a resource-dependent economy, the magnitude of the receipts and the...
News

Shared vision for oil money will open pathway to prosperity

OilNOW -
With just over 750,000 people, Guyana – South America’s newest petroleum hotspot – will begin producing oil within months and with over 6 billion barrels already discovered, revenue from production could profoundly transform the small nation. But the country...
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TEDxTurkeyen conference to spark bold civic dialogue this August

A “space for fresh ideas, civic reflection, and visionary thinking”, TEDxTurkeyen is set to debut on August 29 at...

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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