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Carbon pricing initiatives generate US$53B; now apply to over a fifth of global GHG – World Bank

OilNOW -
Based on the World Bank’s latest statistics, carbon pricing appears to be gaining more acceptance and is proving to be a cost-effective policy tool in combating climate change. According to the financial institution’s latest report called State and Trends of...
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Maersk secures two-well contract extension in Brazil

OilNOW -
Karoon Energy Ltd has exercised an option to add the drilling of two development wells at the Patola field offshore Brazil to the work scope of the semi-submersible rig Mærsk Developer. The work is expected to commence in the...
Exploration

Russia Deputy Prime Minister says IEA’s net zero plan could push oil price to $200

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Russia Deputy Prime Minister Alexander Novak says the International Energy Agency (IEA)’s call for a halt to global oil and gas developments could push oil prices to $200 a barrel. “If the international energy agency's decision to avoid financing new...
Exploration

Scale of resources, production potential at Suriname’s Block 58 “bigger than big” says APA official

OilNOW -
All eyes are on Suriname’s Block 58 where four of the country’s five offshore discoveries have been made to date and the scale of the resource volume and production potential is said to be “bigger than big” according to...
News

EPA explains public engagement process as meetings for Yellowtail Development continue

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The Environmental Protection Agency (EPA) is emphasising the importance of public participation in the ongoing scoping meetings for ExxonMobil’s Yellowtail Development Project. The Agency said the consultations provide an opportunity for questions and concerns from members of the public...
News

Oil prices rise to highest in over a year

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(Reuters) Oil prices surged on Wednesday, hitting their highest in more than a year from a decision by OPEC and allies to stick to the plan to gradually restore supply, along with the slow pace of nuclear talks between...
News

Exxon donates GY$10 million towards flood relief efforts in Guyana

OilNOW -
President of ExxonMobil Guyana, Alistair Routledge on Wednesday handed over a cheque for GY$10 million (US$50,000) to the Civil Defence Commission (CDC) to support flood relief efforts across the country. CDC’s Director General Lieutenant Colonel Kester Craig received the cheque...
News

Struggling Venezuela opened door to new South American oil province

OilNOW -
Political instability and economic turmoil in Venezuela have caused its economy and oil industry to collapse. The country’s highest-ever oil production occurred in 1998 at 3.5 million barrels per day (bpd), the same year that Hugo Chávez was elected...
News

Suriname President confirms FID targeted for 2022, first oil by 2025

OilNOW -
President of Suriname, Chandrikapersad Santokhi confirmed on Tuesday that Total and partner Apache will move forward with their final investment decision at Block 58 next year and move towards first oil by 2025. This will make the offshore development...
News

Suriname oil summit opens with focus on major offshore potential

OilNOW -
Suriname Energy Oil & Gas Summit 2021 virtual edition got underway on Tuesday with the South American country’s massive deepwater potential taking centre-stage in a series of presentations and discussions. The keynote address was delivered by President Chandrikapersad Santokhi, who...
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Guyana's Oil LedgerKemol King -

Guyana gets another US$191 million from oil sales in June

Guyana earned just over US$191 million (GY$40 billion) from the sale of three oil cargoes (each about a million...

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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