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Venezuela production hit 750,000 b/d in December but growth may not be sustainable

OilNOW -
OPEC's 13 countries pumped 28.04 million b/d of crude last December, up 190,000 b/d from the previous month, while nine non-OPEC partners pumped 13.98 million b/d, an increase of 120,000 b/d, a Platts survey found. Gains by Venezuela, Kazakhstan, Saudi...
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TotalEnergies, Inpex sell stakes in Angola oil fields

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(S&P Global Platts) France's TotalEnergies and Japan's Inpex Corporation have signed a deal to offload their non-operated interests in Angola Block 14 and Block 14K to Angolan Company Somoil, both companies said Jan. 17. Somoil will acquire the company Angola...
Exploration

Lau Lau-1 is Exxon’s largest discovery by depth in Guyana; almost three times the height of Marriott Hotel

OilNOW -
To date, there have been more than 20 major discoveries in the ExxonMobil-operated Stabroek Block offshore Guyana. The largest of them by depth is Lau Lau-1 which was announced on January 5 by the American multinational. The Lau Lau-1 well...
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Oil money to back youth-led agri programme in South America’s newest hot spot

OilNOW -
Even though Guyana’s hydrocarbon sector has dominated the spotlight since its emergence in 2015, the Irfaan Ali-led government is determined to demonstrate that the South American country will not be solely dependent on oil. Just last week, President Irfaan Ali...
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Oil holds firm just above $86

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(Reuters) - Oil prices were steady on Monday, as investor bets that global supply will remain tight amid restraint by major producers were offset by a rise in Libyan output. Brent crude was down 4 cents, or 0.1%, to $86.02...
Exploration

Guyanese inspectors will begin testing crude produced offshore from this month

OilNOW -
The South American country of Guyana has been striking oil in quick succession and building the capacity needed to manage the new industry in stride, with officers from the country’s standards bureau already carrying out monitoring activities on the...
Exploration

So far only Stabroek has delivered the goods…what’s next?

OilNOW -
High impact wells will continue to dominate global offshore exploration this year with mainly the big prospects being of significant interest to oil majors and larger National Oil Companies (NOC). The Guyana-Suriname Basin remains at the top of the...
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Builder of Guyana FPSOs has kept its promise, says Human Resource Manager

OilNOW -
When Dutch floater specialist SBM Offshore entered Guyana in 2016, the objective was made clear—to operate in a responsible manner, contribute to the country’s development, and ensure that local capacity is developed so that Guyanese can be at the...
News

Exxon has sanctioned development of about 560,000 bpd so far in Guyana

OilNOW -
With over 10 billion barrels of oil equivalent resources discovered at Guyana’s Stabroek Block since 2015, operator ExxonMobil has sanctioned around 560,000 barrels per day (bpd) so far and is set to add another 250,000 when its largest project...
News

Natural gas shortage drove steep increase in carbon prices in 2021, says GlobalData

OilNOW -
During 2021, emissions trading schemes (ETS) around the world saw record-high carbon prices, with the highest seen in the EU and UK. However, GlobalData notes that prices worldwide are still inadequate to reduce emissions in line with the Paris...
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Ali: Fighting transnational crime vital, protecting sovereignty is Guyana’s business

Guyana's President, Dr. Irfaan Ali made it clear today that protecting his country's sovereignty remains a top priority. The...

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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