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Oil prices projected to hit $60-$80 per barrel by 2020

OilNOW -
There is clear consensus that oil prices will be in the $50-60 per barrel range this year, and within the $60-80 per barrel range in 2020, according to a new survey from Wood Mackenzie. This projection bodes well for the...
Exploration

Tullow working up drilling prospects offshore Guyana, Uruguay

OilNOW -
Tullow Oil is stepping up exploration of frontier basins offshore South America and West Africa. The company’s New Ventures team has completed a 2D seismic survey off Jamaica and a 3D survey offshore Uruguay, Offshore reports. Tullow will use the Uruguay...
News

Guyana must guard against over-dependence on oil and gas revenues – Mexican academic

OilNOW -
Guyana must be mindful of over-dependence on its newly discovered and soon to be extracted oil and gas resources if it is to guard against the dreaded resource curse, said a Mexican academic. Speaking at last Wednesday’s Turkeyen and Tain...
Discoveries

Repsol discovers massive oil field in Alaska

OilNOW -
Spanish oil company Repsol SA has discovered a giant oil field in Alaska, a potential find big enough to help stem production declines in the state. Repsol said two wells drilled this winter with Denver-based partner Armstrong Oil & Gas,...
News

Suriname Staatsolie warns against fraudsters offering jobs with company

OilNOW -
Suriname state oil company, Staatsolie, has issued a warning about fraudsters who claim they represent the company and are making false job offers to individuals around the world. These false offers are the basis for a variety of fraudulent activities,...
News

Brazil enacts new bidding rules for production sharing regime

OilNOW -
Brazil's Decree 9.041/2017 entered in force last week, regulating Law 12.351/2010 relating to Petrobras’ preferential rights to act as operator in consortiums for exploration and production in blocks subject to the production sharing regime. In its original wording, Law 12.351/2010...
News

Public presentation on oil refinery set for May 17 in Guyana

OilNOW -
A presentation will be made on the feasibility of establishing an oil refinery in Guyana on May 17 by the consultant hired to look into the matter by the Guyana government. Pedro Haas, Director of Advisory Services at Hartree Partners will...
News

Onshore Base: Crab Island location not final but has advantages – Trotman

OilNOW -
Guyana’s Minister of Natural Resources, Raphael Trotman, on Wednesday disclosed that while Crab Island is considered to have some comparative advantages for the establishment of an onshore supply base for the country's emerging oil and gas industry, no final decision...
News

SBM Offshore wins OTC ‘Spotlight on New Technology’ award for its innovative FPSO system

OilNOW -
SBM Offshore has received the prestigious 2017 Offshore Technology Conference (OTC) Spotlight on New Technology award. OTC recognizes innovative technologies each year with this accolade. This awards program is exclusively for OTC exhibitors and showcases the latest and most advanced...
News

Guyana’s President stresses environmental care in meeting with Hess CEO

OilNOW -
The overarching concern for protection of Guyana’s environment was raised by the country’s President, David Granger, during a meeting on Wednesday with CEO of Hess Corporation, John Hess, and other officials. The meeting was held at State House, in...
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Latest News

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Guyana may enter long-term oil supply deals if there is market oversupply – VP

Guyana's Vice President, Bharrat Jagdeo, said the government may enter a long-term oil supply deal if there is oversupply...

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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