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Oil prices fall third day in a row amid OPEC+ uncertainty

OilNOW -
(Reuters) - Oil prices fell for a third day on Thursday amid uncertainty over supply after the collapse this week of talks among major producers which could potentially cause the current output agreement to be abandoned. Brent crude oil futures...
News

South America imported record levels of LNG in June

OilNOW -
(S&P Global Platts) LNG imports into South America reached a record high in June led by strong demand from Argentina and Brazil. Data from S&P Global Platts showed South American imports reaching 84 Bcf in June, slightly higher than the...
News

CGX Energy begins drilling operations at Kawa-1

OilNOW -
CGX Energy Inc. has commenced drilling operations at the Kawa-1 prospect on the Corentyne block located approximately 90 nautical miles (167 kilometers) offshore Guyana. Kawa-1 is expected to be drilled to a depth of around 6,500 metres in water depth of...
News

Failure to work together can see Guyanese businesses being outmatched by foreign investors

OilNOW -
Authorities in Guyana are upping the call for local businesses to work together so that they are better positioned to tap into the growing opportunities being presented as a result of the oil and gas activities in the South...
News

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...
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Latest News

Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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