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Exxon’s 2017 Guyana oil discoveries place country among top 3 globally for that year

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Although 2017 was yet another record low year for discovered conventional oil volumes globally, Guyana was among the top three countries where recoverable resources were found. “We haven’t seen anything like this since the 1940s,” says Sonia Mladá Passos, Senior...
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Deep-sea oil drillers optimistic for 2019

OilNOW -
Deep-sea oil drillers are once again riding the wave of investor enthusiasm that next year will be better for profits. But this time there seems to be a greater chance that it will happen, said analysts at Credit Suisse Group...
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What oil at $100 a barrel would mean for the global economy

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(Bloomberg) Rising oil prices are prompting forecasts of a return to $100 a barrel for the first time since 2014, creating both winners and losers in the world economy. Exporters of the fuel would enjoy bumper returns, giving a fillip to companies...
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NIS rakes in over $24M in benefits from Oil and Gas sector in 2018

OilNOW -
Guyana’s largest pension fund and health insurance body; the National Insurance Scheme (NIS), has begun targeting companies registering in the emerging petroleum sector to ensure that employees’ benefits are being paid. At the agency’s 49th Anniversary ceremony on Friday, September...
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Reducing revenue leakage among Energy Dept top priorities

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Among the top priorities for recently appointed Head of the Government’s Energy Department, Dr. Mark Bynoe is “reducing revenue leakage” or the unnoticed or unintended loss of revenue. Dr. Bynoe was appointed to lead the department which was set up...
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Deep-water feeding frenzy in South America as Brazil and Guyana lead enthusiasm

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Good reservoir quality and improved upstream terms have combined with cost declines and firmer oil prices to spark enthusiasm for deep offshore oil exploration in South America. According to a report in the Petroleum Economist, analysts say that while the...
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Exxon adds more than 71,500 net acres to its Brazil portfolio

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ExxonMobil has increased its holdings in Brazil’s pre-salt basins after it won the Titã exploration block with co-venturer Qatar Petroleum during Brazil’s 5th pre-salt bid round. The block awarded added more than 71,500 net acres to the ExxonMobil portfolio, expanding the...
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Hughes, Fields and Stoby targets oil and gas with opening of Houston office

OilNOW -
Guyana’s exciting move into the Oil and Gas sector records another significant step with the historic opening of the law office of Hughes, Fields and Stoby USA PLLC in Houston, Texas. The official launch of its overseas presence took place...
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Mexico’s next president will honor existing oil contracts -official

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(Reuters) - Mexico’s president-elect, Andres Manuel Lopez Obrador, assured private energy executives in a closed-door meeting on Thursday their contracts will not be canceled if they meet existing terms, the head of the country’s main oil producers’ association said. Lopez...
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‘We must put up a good fight to cash in on O&G opportunities’ – Guyana Business Minister

OilNOW -
Guyana’s Minister of Business, Dominic Gaskin, said if the country wants to maximize the full value of local content from the oil and gas sector then it needs to build local capacity. The Minister was at the time delivering an...
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Hess reports Q3 gains with Guyana leading production growth

Hess Corporation revealed a strong third quarter driven by expanded production in Guyana’s offshore Stabroek Block. The company reported...

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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