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Oil to bricks – Nigeria’s new black gold

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(Reuters) - In Nigeria, a country heavily reliant on revenues from its oil exports, entrepreneur Ifedolapo Runsewe has identified another type of black gold: used car tyres. She has set up Freetown Waste Management Recycle, an industrial plant dedicated to...
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Brazil’s 17th bid round disappoints with only 5 of 92 blocks sold

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Big international oil companies such as ExxonMobil, BP and Equinor opted not to participate in Brazil’s 17th bid round as the global pandemic rages on and the energy transition curbs investor enthusiasm. Brazil sold just five of the 92 blocks...
Exploration

Guyana government applauds ‘25 viable discoveries’, says local content remains key

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The Guyana government said on Thursday the latest oil discovery announced by ExxonMobil at the Cataback-1 well further enhances the country’s offshore potential, and that it is working to ensure Guyanese enjoy maximum benefits from the rapidly growing hydrocarbon...
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Exxon makes new Guyana discovery, increases resource to 10 billion barrels

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ExxonMobil announced on Thursday a new discovery at the Cataback-1 well and increased its estimate of the discovered recoverable resource for the Stabroek Block offshore Guyana to approximately 10 billion oil-equivalent barrels. Cataback-1 brings the total significant discoveries to more...
Exploration

High quality crude, big investments propelling Guyana as key global player

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The light sweet crude being produced in Guyana is poised to help meet a rise in global energy demand which the U.S. Energy Information Administration (EIA) says could increase 47% in the next 30 years, driven by population and...
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bp to grow leading US technology company that turns commercial buildings into virtual power plants

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On Thursday bp announced that it had acquired Blueprint Power (Blueprint), a US-based technology company whose technology can help turn buildings into a flexible power network by connecting them to energy markets through cloud-based software. Blueprint’s technology presents an...
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Guyana has 3rd highest crude oil reserves in Latin America-Caribbean region

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New oil producer Guyana has been rapidly adding barrels to its discovered resources since 2015 catapulting the country to the number three position for proven oil reserves in the Latin America-Caribbean region. Crude oil reserves in Venezuela amounted to nearly...
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Stabroek Block crude gives Guyana strategic advantage over global peers, says energy expert

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The vast crude reservoirs found at the Stabroek Block offshore Guyana, home to over nine billion barrels of oil equivalent discovered since 2015, consist of light, sweet, high-quality oil-bearing sand, making it easier to extract and refine with less...
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Oil price hits multi-year high bolstered by OPEC+ production restraint

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(Reuters) - Oil hit a multi-year high on Wednesday above $83 a barrel, supported by OPEC+'s refusal to ramp up production more rapidly against a backdrop of concern about tight energy supply globally. The market later unwound those gains due...
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China’s gas demand has returned stronger than before

OilNOW -
By Miaoru Huang - Research Director, APAC Gas & LNG at Wood Mackenzie After a pandemic slowdown last year, China’s demand for gas appears to have returned stronger than before. In H1 2021, China’s gas demand saw a 16% year-on-year...
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Exxon gives back 9% of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the...

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