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News

Delta tightening grip on oil market

OilNOW -
(S&P Global Platts) Crude oil futures were lower during mid-morning Asian trade Aug. 16 as investor concerns over the fast-spreading delta variant resurfaced amid restrictive movement curbs in oil consuming giant China and growing number of cases in the...
News

TechnipFMC targeting seabed minerals in energy transition push

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TechnipFMC is joining forces with Loke Marine Minerals (Loke) to develop enabling technologies for the extraction of seabed minerals, driving the energy transition and a sustainable future. Marine minerals have been identified by the World Bank, World Economic Forum, and...
News

Guyana delegation in Houston for flagship oil and gas conference

OilNOW -
A delegation from Guyana is in Houston, Texas, for the flagship Offshore Technology Conference (OTC) scheduled to be held from August 16 – 19 this year. OTC focuses on exchanging technical knowledge relevant to the development of offshore energy...
News

Schlumberger walks from OTC over pandemic concerns

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(Bloomberg) -- Schlumberger is pulling out of one of the biggest U.S. oil-industry conferences due to rising Covid-19 cases in the Houston area. The annual Offshore Technology Conference, which is scheduled to start Sunday, draws visitors from the around the...
Exploration

Guyana oil wells among deepest, most complex in region

OilNOW -
Updated August 15, 2021 Over 100 exploration wells are expected to be drilled in South America outside Brazil over the next 5 years and Norway-based Rystad Energy has said most of the action could be found off the northern shelf...
News

Suriname President for Guyana state visit this month

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The Office of the President in Guyana announced on Saturday that President of Suriname Chandrikapersad Santokhi will pay a four-day official visit to Guyana, from August 17- 20, 2021. This is at the invitation of Guyana’s President, Dr. Mohamed...
Exploration

Guyana oil exports could average US$72 million per lift for remainder of year

OilNOW -
In its July Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecast the Brent crude oil price will average $72 per barrel (b) in the second half of 2021 (2H21) and $67/b in 2022, both $6/b higher than in...
News

Brazil set to lead global offshore crude, condensate production – GlobalData

OilNOW -
Brazil alone is expected to contribute around 23% or 1.3 million barrels per day (mmbd) of global crude oil and condensate production in 2025 from key offshore planned and announced projects (new-build projects) that are expected to start operations...
News

Shift towards low carbon oil pushes BP to exit The Gambia

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(S&P Global Platts) Energy group BP has exited from The Gambia, relinquishing its stake in Block A1 after it agreed to pay the government for suspending drilling at the license, the Ministry of Petroleum and Energy said Aug. 12. BP...
News

American Petroleum Institute to help Guyana boost standards in growing oil and gas industry

OilNOW -
The world-renowned American Petroleum Institute (API) will be assisting Guyana in the adoption of good petroleum management standards for the development of the local oil and gas industry. Towards this end, API signed a memorandum of understanding with the Guyana...
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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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