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Guyana’s political economy incentives against wealth accumulation

OilNOW -
It is imperative to highlight the political economy incentives that may face politicians in countries, such as Guyana, with accumulated revenues – whether or not these revenues are formally a "fund." To set up institutional solutions to make it...
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Western oil majors face potential attacks in Iraq following US airstrike

OilNOW -
Despite reports of oil field staff withdrawals in Iraq over concern of retaliation from Iranian backed militants, all upstream operations and exports in Iraq are continuing normally, according to local sources, but western oil majors still remain a potential...
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Mexico hedges oil output for 2020 as risks grow

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(Reuters) - Mexico has completed its annual oil hedging program for 2020 at $49 a barrel, the finance ministry said on Friday at a time when the finances of both the sovereign and state oil company Pemex are particularly...
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Eco Atlantic sees ‘significant thick oil pay opportunities’ at Orinduik following Carapa results

OilNOW -
Eco (Atlantic) Oil & Gas Ltd. believes the recently announced Carapa-1 oil find by Tullow Oil in the Kanuku Block offshore Guyana, though lower than previously estimated, is still an important discovery as it confirms the prospectivity of the...
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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

OilNOW -
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

OilNOW -
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

OilNOW -
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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Guyana's Oil LedgerKemol King -

ExxonMobil Guyana produced 841,000 barrels of crude per day in October

ExxonMobil Guyana’s offshore oil production averaged 841,000 barrels per day (b/d) in October across the four producing Stabroek Block...

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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