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Mexico and Brazil populist presidents confounding investors

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(Reuters) - When a left wing populist and a far-right lawmaker rose to power in Latin America’s two largest economies, investors thought they knew who was going to show them the money. But more than two years and a costly...
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Flash gas compressor reinstalled on Liza Destiny FPSO, system being tested

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The repaired and upgraded flash gas compressor has been safely reinstalled on the Liza Destiny FPSO and a three-phase testing programme is now underway to monitor the performance of the system. “Following the safe reinstatement of the repaired and upgraded...
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Petrobras takes over BP’s stakes in basin where geologist say Guyana oil-rich play extends

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The highly prospective Foz do Amazonas region in Brazil, which is part of South America’s Equatorial Margin, is considered to hold similar geology and prospects to Guyana and West Africa. But due to ongoing environmental challenges with permits in...
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Venezuela managed to send more crude to China in March despite overall dip in shipments

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(Reuters) - U.S.-sanctioned Venezuela managed to ship more crude in March directly to China, its main export destination, even as overall shipments dipped modestly last month, according to internal documents and Refinitiv Eikon data. The South American country's state-run oil company, PDVSA,...
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Oil rises on stronger economic outlook

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(Reuters) -Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world’s biggest fuel consumer, fell. But optimism about talks between...
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Local content to remain at forefront of agenda, says newly elected GCCI President Timothy Tucker

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The newly elected Council of the Georgetown Chamber of Commerce and Industry (GCCI) in Guyana held its first Statutory Council Meeting on Tuesday and elected a new Executive Management Committee (EMC) for the year 2021/2022. This saw former Vice...
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New discovered volumes in Guyana shrank to 1 billion barrels for first time last year

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2020 saw a dip in the number of exploration wells drilled in Guyana for the first time since 2015 with new discovered volumes shrinking to 1 billion barrels of oil equivalent resources. This further highlights the risky nature of...
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Local content commission could ensure Guyanese are not being hoodwinked – Timothy Tucker

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Senior member of the Georgetown Chamber of Commerce and Industry (GCCI) Timothy Tucker says several of the factors that constitute what a local business is should be strengthened in the context of Guyana’s revised draft local content policy and...
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Tullow kicks off multi-well drill campaign in Ghana

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Tullow Oil plc (Tullow) announced on Tuesday the start of a multi-year, multi-well drilling campaign offshore Ghana with the commencement of drilling of the first well at the Jubilee Field on April 5. As previously announced, the Maersk Venturer, which...
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Brazil’s oil industry in grip of deadliest pandemic wave yet

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(Reuters) - The deadly coronavirus wave that has torn through Brazil in recent weeks has not spared its oil industry, according to unions and government data reviewed by Reuters, with infections among workers jumping and production taking a hit. New...
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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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