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More than 90% of Gulf crude oil offline as Hurricane Ida rips through region

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(S&P Global Platts) Oil and gas producers were racing Aug. 28 to shut in the vast majority of volumes in the US Gulf of Mexico as Hurricane Ida continued to whip through the region a day ahead of its...
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Guyana exploring alternate uses for excess gas when landmark project comes on stream

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Authorities in Guyana have begun looking at alternate uses for the excess gas from the US$900 million gas-to-energy project set to come on stream by 2024. While energy generation from the landmark project is the government’s primary focus, Natural Resources...
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Tanager-1 estimated to contain over 65 million barrels of oil

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Tanager-1, one of the deepest wells ever to be drilled offshore Guyana, is estimated to contain around 65.3 million barrels (MMBBL) of oil as part of a ‘best estimate’ provided in a report compiled by consultants Netherland, Sewell &...
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Oil posts biggest weekly gains in over a year

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(Reuters) - Oil prices rose 2% on Friday, posting their biggest weekly gains in over a year, as energy firms began shutting U.S. production in the Gulf of Mexico ahead of a major hurricane expected to hit early next...
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Ancient river systems that formed 1000m deep canyon now delivering oil offshore Guyana

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Updated August 28, 2021 The Berbice River in Guyana, during the early period of the planet’s formation  helped “drain” the northern part of South America to form a 1,000 metre deep canyon believed to be the basis of the stratigraphic traps...
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Transport of sanctioned oil cargoes weakening tanker market – earnings hit lowest point in years

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(Bloomberg) -- The world’s fleet of giant supertankers is the oldest it has been since 2002, the latest sign of an illicit trade that owners say is damaging business. Publicly traded shipowners have said for months that the transport of...
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Guyana could transform into new type of oil producer, attract big carbon capture investments – AMI analyst

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The Guyanese government recognizes the appeal of its newfound treasure off the country’s coast and has assured that future oil contracts will generate more profits for the government, writes Arthur Deakin, Co-Director at Americas Market Intelligence (AMI) Energy Practice,...
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Inaugural Guyana Energy Conference and Exhibition slated for February 2022 – GCCI

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The inaugural Guyana Energy Conference and Exhibition (GEC-X ’21), which was originally scheduled for September 28-29, 2021, will now take place in February 2022, as a hybrid event. The Georgetown Chamber of Commerce and Industry (GCCI), the lead organiser of...
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After encountering 45 dry holes over a period of 50 years, along came Liza

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Updated August 27, 2021 Before 2015, offshore Guyana was considered a “high-risk frontier basin” with 45 wells drilled over a span of 50 years resulting in no commercial discovery. Bordered by oil producing giants such as Venezuela and Brazil, the evidence...
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Liza Crude perfect for making jet fuel, high demand products – O&G expert

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Updated August 27, 2021 The oil being produced at the Liza field offshore the South American country of Guyana is being described as ‘clean good quality oil’ by an expert in the field who said this, together with some other...
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Guyana oil production could edge closer to one million barrels per day by year-end

ExxonMobil Guyana expects production from the Stabroek Block to climb sharply before the end of 2025, driven by 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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