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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...
News

Oil operators, sub-contractors will get one-year grace period to comply with Local Content Law – AG

OilNOW -
Once the Local Content Bill 2021 becomes law, international oil companies and their subcontractors will have a one-year grace period to get their proverbial house in order and be fully compliant with the legislation says Attorney General of Guyana...
Exploration

CGX spokesperson says maritime notice inaccurate; drilling at Kawa-1 continues

OilNOW -
A spokesperson for CGX Energy says a notice published by Guyana’s Maritime Administration Department (MARAD) last week stating that demobilization of exploration drilling operations at the Corentyne Block is underway, is inaccurate, since the drill campaign at its Kawa-1...
Exploration

Demobilization activities underway at CGX Kawa well

OilNOW -
Guyana’s Maritime Administration Department said in a notice dated December 24 that CGX Energy is moving forward with demobilization of exploration drilling operations at the Corentyne Block where it is hoping to hit pay at the Kawa-1 prospect. The demobilization...
News

Local content targets can be adjusted if we overestimate or shortchange ourselves – Nandlall

OilNOW -
Guyana’s Local Content Bill 2021 proposes a schedule of 40 categories of work which include minimum targets to be achieved by oil companies and their subcontractors. In the event it is observed that the targets overestimate or shortchange participating...
News

Emissions from oil industry in Middle East set to climb for years

OilNOW -
(S&P Global Platts) The Middle East will have a hard time meeting targets because economies are heavily reliant on industry and refining, which are difficult to decarbonize while fuel subsidies encourage consumption, according to Dan Klein, head of future...
News

Guyana & Suriname will be producers for 100 years- former Staatsolie CEO

OilNOW -
Guyana and Suriname have emerged as the two most exciting oil-producing provinces of the Latin America and Caribbean region. But with renewed calls for a quick transition to renewables given the troubling impacts of climate change over the last...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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