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OPEC+ brinkmanship pushing oil prices, reminds markets of inflation pain points

OilNOW -
(Reuters) - OPEC+ brinkmanship has taken oil prices towards $80 a barrel, the highest since 2018, threatening to upend central banks' transitory inflation narrative as well as the post-pandemic economic recovery. Last year's Saudi-Russian oil war showed that disputes between...
Exploration

Eni makes significant oil discovery offshore Ghana

OilNOW -
Italian multinational oil and gas company Eni said it has made a significant oil discovery on the Eban exploration prospect in CTP Block 4, offshore Ghana. The Eban - 1X well is the second well drilled in CTP Block...
News

Why is finding oil outside of Stabroek block proving to be so challenging?

OilNOW -
U.S. oil major ExxonMobil hit pay on the very first well it drilled on the 6.6 million acres Stabroek block in 2015 and has maintained a success rate of around 80 percent ever since. But all efforts to find...
News

Guyana heavy lift waterfront capability boosted as GYSBI commissions brand new crane

OilNOW -
The Guyana Shore Base Inc. commissioned a brand-new Manitowoc crane just a week ago at its Houston-based facility on the outskirts of Georgetown, significantly enhancing the country’s waterfront heavy lifting capabilities. “This 350MT animal, with a 315 ft (96 m)...
News

Competitively priced Liza crude could become new supply source for India, says adviser

OilNOW -
Guyana’s medium sweet Liza crude could become a new source of supply for India in coming years provided that it is competitively priced. "India has been diversifying its crude imports, including taking substantial volumes from the U.S. in recent months,”...
News

Oil prices jump higher as OPEC+ abandons talks on output levels

OilNOW -
(Reuters) - Oil prices rose on Monday, driven higher after OPEC+ nations called off talks on output levels, meaning no deal to boost production has been agreed. Brent was up 94 cents, or 1.2%, at $77.11 a barrel by 1652...
News

No commercial oil at Jabillo-1, Sapote is next target

OilNOW -
Westmount Energy Ltd., said on Monday it has been informed by JHI Associates Inc. that the Jabillo-1 well on the Canje block reached target depth without encountering commercial hydrocarbons. Westmount said project operator ExxonMobil will now switch attention to the...
News

1 million barrels of Guyanese oil en route to India’s Paradip refinery

OilNOW -
Indian Oil Corporation Ltd. (IOC) has become the first Indian PSU refiner to buy a tanker load of Liza Crude from Guyana. One million barrels of oil from the South American country is now en route to India as...
News

Public meetings kick off this week for US$900 million gas-to-energy project

OilNOW -
ExxonMobil will begin holding a series of public meetings in Guyana this week for the US$900 million gas-to-energy project for which it has submitted an application to the Environmental Protection Agency (EPA) seeking authorisation for construction of onshore and...
News

Diplomat calls on more U.S. companies to set up shop in ‘land of many waters’

OilNOW -
United States Ambassador to Guyana, Sarah-Ann Lynch is urging internationally recognized American companies to set up shop in Guyana. She made the comment during the sod turning ceremony for a new Courtyard by Marriott in the compound of the Cheddi...
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Patrick Brunings nominated to lead new Oil and Gas Ministry

PARAMARIBO, SURINAME - Suriname’s incoming coalition government has nearly finalized its Cabinet ahead of the July 16 inauguration, with...

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