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Iraq-Kurdistan conflict drives up oil prices

OilNOW -
(Financial Times) Crude oil was the standout mover on early Monday trading as conflict between Iraqi and Kurdish forces broke out south of the oil-rich city of Kirkuk, with energy stocks in Europe and Asia climbing. The Kurdistan Regional Government...
News

Train the trainers worked for gold, it can work for oil – McLean

OilNOW -
Former Human Resource Manager of the now defunct Omai Gold Mines Limited, Norman McLean, believes that an effective approach for the delivery of local content in Guyana’s emerging oil and gas industry is to implement a system that allows...
News

Australia, Timor Leste draw up maritime borders draft treaty to bring end to oil and gas dispute

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(SBS) Australia and Timor Leste have drawn up a draft treaty setting out their maritime borders, aiming to end a bitter dispute over lucrative oil and gas fields, officials said Sunday. "Timor Leste and Australia have reached agreement on the...
News

Petroleum summit pushed to February 2018

OilNOW -
The inaugural Guyana International Petroleum Business Summit & Exhibition (GIPEX 2018) will now be held on February 7-9, 2018. The summit, originally scheduled for November this year, will open strategic dialogue and place the South American country as a...
News

Guyana oil reserves hover around 3 billion barrels with more discoveries expected

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With no proven oil reserves just over two and a half years ago, Guyana now has approximately 3 billion barrels of recoverable oil and this number is expected to further increase as the hunt for more petroleum intensifies. The country’s...
News

US$1.5M financing secured for completion of Guyana’s Green State Development Strategy document

OilNOW -
The Ministry of the Presidency in Guyana has secured US$1.5 Million (GY$ 300 Million) to finance the development of the Green State Development Strategy (GSDS). This financing was approved by the Steering Committee of the Guyana REDD+ Investment Fund...
Exploration

Supermajor Chevron eyeing Guyana prospects

OilNOW -
US supermajor Chevron is looking to participate in offshore activities in Guyana, making it the third oil major that views the South American country as a favourable location. Total recently moved towards entering an agreement with Eco Atlantic on the...
News

All eyes on Suriname as success offshore Guyana raises prospects for the basin

OilNOW -
A fifth oil discovery announced last week by ExxonMobil off the Guyana coast has further increased expectations that similar play could be expected in neighbouring Suriname as Tullow Oil farms into the Araku prospect on Block 54. Already, a 3D...
News

WorleyParsons enters UK North Sea market with $228M acquisition

OilNOW -
Australian engineering firm WorleyParsons Ltd (WOR.AX) said on Monday it would buy the former upstream oil and gas assets of Britain’s Amec Foster Wheeler Plc AMFW.L for 228 million pounds ($298.22 million), marking its entry into the UK North...
News

Guyana collected close to US$4.4M in revenue for oil & gas activities to date for 2017

OilNOW -
Guyana’s Minister of Finance, Winston Jordan, disclosed on Monday that the country has collected around US$4.4M (G$900 million) in revenue for the first half of 2017 from oil and gas related activities. Mr. Jordan was at the time responding to a...
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ExxonMobil sees 60% year-on-year production boost in Guyana

ExxonMobil’s Chief Financial Officer, Kathy Mikells reported a 60% year-on-year increase in crude oil production offshore Guyana, during the...

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