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Disappointment for Trinidad as BHP confirms dry hole at Broadside-1

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Australian based petroleum company BHP confirmed on Wednesday that it failed to encounter hydrocarbons at the Broadside-1 exploration well in Trinidad and Tobago. “In Trinidad and Tobago, the Broadside-1 exploration well in the Southern Licence reached the main reservoir on October...
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Big opportunities for farmers in Guyana’s oil and gas sector, supplies already going offshore

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The offshore exploration and production operations in Guyana have been creating growing opportunities for suppliers of goods and services, including those outside the oil and gas industry. In fact, since the first discovery in 2015 when it became apparent...
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Governments in developing countries not ready to ‘kill off’ upstream investment – WoodMac

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Governments have a lot to think about in 2021 says UK-based global consultancy group, Wood Mackenzie. Tougher fiscal terms could put countries at the sharp end of the energy transition – but support for upstream sectors could also remain...
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Higher fluids sales in Guyana help bump up Halliburton Latin America revenue

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Halliburton reported quarterly results on Tuesday that exceeded analysts’ expectations posting a profit of 18 cents per share on revenue of $3.24 billion for the fourth quarter (Q4) of 2020. According to Refinitiv, analysts expected earnings per share of 15...
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Norway issues 61 new licences for oil and gas exploration activities

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Thirty companies have received offers of ownership interests in a total of 61 production licences on the Norwegian Shelf in the Awards in Predefined Areas (APA) 2020, the Norwegian Petroleum Directorate said on Tuesday. The authorities assessed applications from a...
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Energy Chamber looking to play major role in Guyana oil & gas development

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The Guyana Oil and Gas Energy Chamber (GOGEC) says it plans to play a major role in the development of the country’s oil and gas sector and will be ramping up activities this year to focus on local content...
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Groups plan to press Biden to reverse ban on Venezuela fuel swaps

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(Reuters) - Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse a ban on crude-for-diesel swaps. The Trump administration...
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Exxon targeting over a dozen wells, ramping up drill capacity offshore Guyana this year – Routledge

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A flurry of activity is expected offshore Guyana this year as U.S. oil major ExxonMobil ramps up its search for even more hydrocarbons, targeting deeper and risker prospects. The company has also confirmed that it will be boosting its drill...
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Oil demand will continue to climb says analyst, sees 50-year window for Guyana

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Following the devastating effects of the coronavirus pandemic on the oil industry, multiple stakeholders have posited that the sector would never see pre-2019 oil demand again. They say too that the demand is tempered by the fact that more...
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Maersk Drilling bags double-rig 500-day contracts for Suriname forays

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Based on the previously announced Conditional Letter of Award, Maersk Drilling said on Sunday that it has been awarded contracts for the deepwater rigs Maersk Valiant and Mærsk Developer from Total E&P Suriname, Suriname Branch, for Total’s exploration and...
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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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