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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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Monster hurricane pushes Gulf of Mexico oil, refining output almost to zero

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Seeking Alpha - Hurricane Ida Update More than 90% of oil production in the Gulf of Mexico has shut down as Hurricane Ida plows toward the Louisiana coast, threatening an area that is home to 17% of U.S. oil production, 5%...
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Drilling at Sapote-1 has begun, JHI confirms

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The Stena DrillMAX has begun drilling the Sapote-1 prospect at the Canje Block, JHI Associates Inc. said on Sunday. The Sapote-1 well is designed to test Upper Cretaceous reservoirs in a stratigraphic trap.  The well is approximately 255 km northeast...
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Major drill campaigns happening at multiple blocks in busiest period yet for Guyana offshore

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Rigs are on the hunt for commercial crude at three blocks offshore Guyana, all at the same time. Drill campaigns are underway at the Stabroek, Canje and Corentyne blocks in what is now the busiest period the offshore basin...
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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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French firm gets five-year tech support contract from ExxonMobil Guyana

French geophysical technology company Sercel announced on Tuesday that it has been awarded a five-year contract for technical support...

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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