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Oil edges up ahead of OPEC+ meeting

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(Reuters) - Oil prices rose on Wednesday before an OPEC+ meeting in which the producer club is expected to stick to a plan to add 400,000 barrels per day (bpd) each month through to December. The Organization of the Petroleum...
News

Venezuela August average crude production declines to 520,000 b/d

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(S&P Global Platts) In August, average crude production by state-owned PDVSA and its foreign partners fell to 520,000 b/d, slightly below the 524,000 b/d reported for July, and 535,000 b/d below the recovery target announced in April by petroleum...
News

Investors already showing interest in massive industrial operations as cheaper power looms – GO-Invest

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As the Government of Guyana pushes ahead with the planning and groundwork for the US$900 million gas-to-energy project, Chief Executive Officer of the Guyana Office for Investment (GO-Invest), Dr. Peter Ramsaroop, says the agency is welcoming investors who can...
News

Hess will plug another US$150 million from Denmark asset sale into Guyana

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INEOS E&P A/S, which is a part of INEOS Energy said on Monday it has completed the previously announced agreement to acquire the subsidiary HESS Denmark ApS. for a total consideration of $150 million, effective January 1, 2021. Hess will...
News

Eco ‘excited’ about Sapote-1 campaign, hoping results mirror mega discoveries at Stabroek

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In approximately 60 days results from the Sapote-1 drill campaign are expected to begin coming in and Eco (Atlantic) Oil & Gas Ltd., which holds an indirect interest in the Canje block, says it is excited and hopeful of...
News

Guyanese benefitted from almost GY$19 billion in oil and gas contracts during first half of 2021

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During the first half of 2021, ExxonMobil Guyana and its contractors spent nearly GY$19 billion with more than 750 Guyanese vendors on goods and services ranging from food stuff to engineering. This has generated, either directly or indirectly, an...
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Equinor begins production at one of the most profitable projects in its history

OilNOW -
On Friday August 27, production started from the Troll phase 3 project in the North Sea. The project has a break-even price below 10 dollars and CO2 emissions of less than 0.1 kg per barrel oil equivalent. The new wells...
Exploration

Maersk Drilling upbeat about Guyana campaign, rig now booked for second well

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CGX Resources Inc., operator and joint venture partner with Frontera Energy Guyana Corp has exercised an option to drill one additional exploration well offshore Guyana. The work is expected to commence in the first half of 2022 in direct...
News

New ‘up-and-coming petro-power’ has opportunity to broaden trade, foreign policy partners

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A potential new element in the changing face of geopolitics is emerging in the Southern Caribbean and this could present new opportunities for South America’s newest oil producing nation. So says Scott B. MacDonald, Chief Economist for Smith’s Research...
News

No major economy on track to meet 45% reduction in annual emissions by 2030 – WoodMac Analyst

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Following the release of a damning report by the United Nations' (UN) Intergovernmental Panel on Climate Change (IPCC) which is essentially another stark reminder for world economies to raise their climate ambition, Wood Mackenzie has stepped into the debate...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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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