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Exploration

More disappointment for Tullow with dry hole offshore Peru

OilNOW -
Tullow Oil plc (Tullow) announced on Monday that the Marina-1 exploration well drilled on the Z-38 licence offshore Peru reached Total Depth and has not encountered significant hydrocarbons. The well tested the La Cruz and Mal Pelo formations where minor...
News

Commerce group touts World Trade Center for Guyana by year-end

OilNOW -
The Florida headquartered Guyanese American Chamber of Commerce (GACC) has initiated efforts to set up a World Trade Center in Guyana by the end of 2020, as it is of the view that the South American oil producing country...
News

10 billion US dollars a year and growing

OilNOW -
By Steven Jasmin - OilNOW  A few weeks ago, I posted a breakdown of the estimated $500 Billion USD worth of oil that has been discovered and will be extracted. The post was well received and re-shared quite a bit....
Opinions

Factors to consider for a gas generation strategy for Guyana

Bobby Gossai, Jr. -
Natural gas generating capacity will form an integral part of Guyana’s future energy generation mix and it will be a reliable and flexible source of electricity. Using gas as a fuel in the power stations will provide a significant...
News

Stabroek reservoir quality, low break-evens continue to promise high returns for country, explorers

OilNOW -
In providing asset highlights during an investor presentation on February 11, Hess Corporation said the 16 discoveries made so far at the Stabroek Block offshore Guyana are characterized by exceptional reservoir quality and low development costs. The company holds...
News

Tullow gets approval from Ghana to flare gas

OilNOW -
(Bloomberg) -- Tullow Oil Plc said it received approval from Ghanaian authorities to flare gas when necessary to support its offshore fields. The permission will assist heavily indebted Tullow to support production at operations that failed to meet their initial...
News

Oil prices could fall much further as Russia refuses additional production cuts

OilNOW -
(Forbes) As 2019 came to a close, oil prices were under pressure from the continued surge of U.S. shale oil. Although OPEC and its partners had already cut production by more than 1 million barrels per day (BPD), U.S....
Exploration

First suspected coronavirus case on North Sea platform contained

OilNOW -
An offshore worker on a North Sea platform has been quarantined over concerns around the outbreak of the coronavirus Energy Voice said in a report on Friday. The worker, on board Taqa’s Tern Alpha installation 105 miles north-east of Shetland,...
News

Oil companies set to spend over US$53 billion at Stabroek Block in coming decade – Rystad Energy

OilNOW -
Recent discoveries in the Guyana-Suriname basin have proven a wider petroleum system and may cause an upgrade in resource estimates, drawing extra attention to upcoming wells. Meanwhile global oil firms are preparing to spend more than $53 billion in...
News

Policy calls for ‘first consideration of Guyanese’ in new O&G hotspot

OilNOW -
In making decisions concerning recruitment and procurement to execute petroleum activities, operators and their contractors in Guyana’s emerging oil and gas industry are expected to give first consideration to Guyanese persons having appropriate qualifications and experience, and to Guyanese...
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Latest News

NewsOilNOW -

Guyana barrels remain ‘extremely competitive’ even in low-price scenarios – Norway research firm

Guyana’s deepwater volumes remain central to the pool of “advantaged barrels” that analysts say can withstand prolonged low-price environments....

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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