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More time needed for public input on wealth fund bill, says GCCI

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI) says while it commends the Guyana government for its effort at attempting to improve public accountability and transparency with respect to the management and operation of the Natural Resources Fund, more...
News

Guyana has earned close to one million U.S. dollars per day in oil revenue

OilNOW -
Twenty-four months have gone by since ExxonMobil began producing oil at the prolific Stabroek Block offshore Guyana. The government has exported approximately nine million barrels of Liza Crude over this period - four in 2020 and five this year...
News

Products from new Suriname seismic campaign to be available from April 2022

OilNOW -
The first products from a multi-client seismic campaign offshore Suriname will be made available from April 2022. The 3D survey which got underway in November is adjacent to the prolific Block 58 and will cover the up-dip portions of...
News

Mexico will stop exporting crude to U.S. by 2023

OilNOW -
(S&P Global Platts) Mexico's Pemex plans to reduce crude oil exports to the US to 435,000 b/d in 2022 and to stop it completely in 2023 as the state-run company increases its refining capacity to meet domestic fuel demand,...
News

Board overlooking oil fund protects country from whims of lone official, says Ali in public message

OilNOW -
Guyana’s President, Dr. Irfaan Ali on Tuesday put forward an impassioned case in support of the Natural Resources Fund (NRF) Bill 2021 which his administration laid in Parliament this month, saying key provisions in the document takes away extraordinary...
News

Nasdaq says Guyana GDP will hit double digits by 2023

OilNOW -
Guyana is among the few nations in the world which managed to evade economic contraction during 2020 as massive investments fueled by the more than 10 billion barrels of oil equivalent resources found off of its coast continue to...
Exploration

Repsol conducting survey at Guyana block ahead of 2022 drill campaign

OilNOW -
Spanish oil company Repsol is moving to conduct a geotechnical survey at the Kanuku Block offshore Guyana where it plans to drill another exploration well in 2022. This exercise will incorporate the use of the PSV MIA and will take...
Exploration

Giant prospects in Guyana will be at forefront of 2022 exploration

OilNOW -
U.K. based consultancy group Wood Mackenzie says the exploration sector will accelerate its repositioning for the energy transition in 2022 and this will see advantaged resources being targeted to replace maturing legacy assets. Conventional exploration will follow the disciplined path...
News

Venezuela doubled oil production this year after hitting lowest point in a decade

OilNOW -
(Reuters) - Venezuela this year almost doubled its oil production from last year's decades-low as its state-owned company struck deals that let it pump and process more extra heavy crude into exportable grades. The surprising reversal began as state-run Petroleos...
News

India crude imports hit highest level in 10 months

OilNOW -
(S&P Global Platts) India's crude imports in November reversed a declining trend to hit its highest level in 10 months as refiners build inventories in anticipation of higher runs, but analysts continued to keep a close eye on developments...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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