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Too soon to say if Kawa discovery is commercial – CGX Energy

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CGX’s Senior Technical Advisor, Dr. Mark Zoback, was asked whether the company regards the Kawa well in the Guyana Corentyne block as commercial, and he said, during a Monday virtual presentation, that it is too soon to say. “It’s going...
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ConocoPhillips seeks greenlight for US$1.2 billion North Sea oil development

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ConocoPhillips has asked Norwegian regulators to approve its proposed Eldfisk North Project at the Greater Ekofisk Area in the North Sea. Its affiliate and operator of the Area, ConocoPhillips Skandinavia AS, submitted a plan for development and operation (PDO) for...
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CGX leaves narrow window to meet Demerara Block drilling commitments, with no wells planned for 2022

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Demerara Block operator, CGX Energy Inc., had told the market as early as February 2021 that it identified several prospects, including an Aptian stratigraphic prospect which was being matured to drill status. However, the company will not be conducting...
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Forests: the key to Guyana’s low carbon development strategy

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Net zero by 2050, an ideal popularised most recently by the International Energy Agency’s (IEA) landmark report of the same name, is a vision for the world to collectively trap more carbon dioxide than it emits. This would be...
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Guyana withdraws first US$200 million from oil fund

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Guyana’s Senior Finance Minister Dr. Ashni Singh announced on Tuesday that the government has made its first drawdown from the Natural Resource Fund (NRF) in accordance with the Natural Resource Fund (NRF) Act 2021. Dr. Singh indicated that pursuant to...
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Indian refiners snapping up Liza crude, going after term deal with Brazil

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Refiners in India, the third largest importer of oil in the world, are continuing to look towards Guyana and its neighbour Brazil to secure agreements for the supply of crude. Since last year, Indian refiners have been snapping up maiden...
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OPEC+ oil production drops to six-month low as Russian output takes battering

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(S&P Global Platts) Crude oil production by OPEC and its partners fell to a six-month low of 41.58 million b/d in April as Russian production took a battering from Western sanctions, the latest Platts survey by S&P Global Commodity...
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Wei-1 chance of success doubled after updated results from Kawa-1 – CGX, Frontera

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CGX Energy’s discovery at the Kawa-1 well has ignited hopes of success in the Wei-1 well. CGX and its partner on the Corentyne Block, Frontera, said the detailed seismic and lithological analysis captured from the Kawa-1 find thus far hiked...
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Brazil, Guyana exploring Boa Vista-Georgetown Road corridor to boost trade, investment

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Following a state visit of the President of Brazil, Jair Bolsonaro to Guyana to meet with President Dr. Mohamed Irfaan Ali last Friday, the two agreed to explore the merits of a road corridor linking Boa Vista, the capital...
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Noble may divest five rigs to secure approvals for Maersk merger

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With a mid-2022 deadline eyed for the finalisation of the merger between Noble Corporation and Maersk Drilling, Noble may soon sell five of its rigs for the deal to go through. Providing an update on the merger, Maersk and Noble...
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Wales Gas-to-Energy project accelerates with 120 day foundation plan

Guyana’s Gas-to-Energy project at Wales is entering a crucial phase as contractor Lindsayca Guyana pushes to complete all foundation...

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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