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Exploration

“We didn’t realise the significant potential of Stabroek Block” – says Shell VP exploration

OilNOW -
Oil and gas exploration is risky business. Prior to the 2015 Liza discovery, all available data pointed to a high probability of not finding any commercial hydrocarbons offshore Guyana. The level of uncertainty was so high that U.S. oil...
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Oil prices rise as demand improves

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(Reuters) Oil prices rose on Monday, hitting their highest levels in more than two years supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. Brent was up 85 cents, or 1.2%,...
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Guyana on its way to cashing in over half billion US dollars in oil revenue by year-end

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Guyana, now in its second year as an oil producing nation, could see revenues from royalties and the sale of its Liza Crude surpassing the US$500 million mark by the end of the year. The country has already exported a...
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Guyanese company clears Bourbon Rhesos in one day, gearing up for other projects

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Guyanese company, Western Logistics, successfully cleared the Bourbon Rhesos in one day upon its arrival in the new oil producing South American country. Bourbon provides marine and logistics as well as subsea services to the global oil and gas...
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Guyana local content policy will be enshrined in law, Bharrat affirms

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Guyana’s Minister of Natural Resources, Vickram Bharrat has assured that by the end of this year the government will commence putting into legislation its Local Content Policy. OilNOW understands that following the extended month-long consultations in March, a team from...
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Saipem, Daewoo contracted to build giant US$2.3 billion Brazil FPSO

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Italian multinational oilfield services company Saipem in joint venture with South Korea’s Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME) has been awarded a contract by Petróleo Brasileiro (Petrobras) for the construction of the Floating Production Storage and Offloading...
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Norway vows to continue oil & gas production, even in green energy push

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(Reuters) Norway is betting on hydrogen and offshore wind for its energy transition but will continue to extract oil and gas until 2050 and beyond, the outgoing centre-right government said as it presented its long-term energy strategy on Friday. Europe's...
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Payment for 6th oil export pushes revenue past US$344 million

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The Guyana government announced on Friday that the payment for the country’s sixth oil lift was deposited into the Natural Resources Fund Account, pushing the total revenues received so far to over US$344 million. According to a statement from the...
News

Liza crude heading to China, Netherlands

OilNOW -
Most of the exports of Guyana’s Liza Crude were shipped to Asia, especially China, and the U.S. last year, data from Kpler shows. However, according to Platts, since late last year, more of the shipments went to Panama, although...
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Exxon faring better than peers with addition of big Guyana volumes

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Norway consultancy group Rystad Energy says new discovered volumes – a measurement of a company’s exploration performance – illustrates the daunting challenge faced by oil majors to maintain their reserves base and supply existing customers. The U.S oil major’s proven...
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Guyana's Oil LedgerKemol King -

ExxonMobil Guyana produced 841,000 barrels of crude per day in October

ExxonMobil Guyana’s offshore oil production averaged 841,000 barrels per day (b/d) in October across the four producing Stabroek Block...

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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