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Equinor makes biggest oil discovery for the year on Norway’s continental shelf

OilNOW -
Equinor and partners Vår Energi, Idemitsu Petroleum and Neptune Energy have made the biggest discovery so far this year on the Norwegian continental shelf (NCS). Preliminary estimates place the size of the discovery between 12 and 19 million standard...
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Mexico investments in jeopardy as Guyana, Brazil and others push hard to develop oil resources

OilNOW -
Political instability has always been the Achilles' heel of Latin America. Investments in the region have often been jeopardized by governments who make changes to what came before. The energy sector has been particularly affected, as it has been...
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Team working towards start-up of Liza Destiny FPSO gas compressor

OilNOW -
Reinstallation of components of the flash gas compression system is progressing offshore Guyana on the Liza Destiny FPSO. ExxonMobil Guyana, operator at the Stabroek block, said in an update on Tuesday that critical equipment alignments, lifting of the suction silencer...
News

Oil jumps by 1% as ship runs aground in Suez Canal

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(Reuters) - Oil rose more than 1% on Wednesday after a ship ran aground in the Suez Canal raising supply concerns, although fears of a slow recovery in demand due to European lockdowns limited gains. Ships in the Suez Canal...
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Venezuela oil worker on house arrest after criticizing Maduro

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(Reuters) - Venezuelan authorities granted house arrest to a worker at state oil company Petroleos de Venezuela who was detained nearly a year ago after criticizing President Nicolas Maduro in a meeting with company leadership, the worker’s family said...
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Executives from Exxon, other major U.S oil companies pledge support for Biden’s climate campaign

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(Bloomberg) Chief executives of some of the largest U.S. oil companies promised to collaborate with the Biden administration in its campaign against climate change during a meeting Monday with White House National Climate Adviser Gina McCarthy. The oil industry leaders...
Exploration

Will Guyana oil resources remain relevant as the energy transition takes hold?

OilNOW -
Whatever the pace of the energy transition, the world will still rely on oil and gas for much of its energy needs until well beyond 2040, according to research conducted by consultancy group Wood Mackenzie. "Exploration will be critical...
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Guyana President tells summit country on cusp of economic explosion

OilNOW -
In an address that focused heavily on Guyana’s coming transformation, President of the new oil producing country Dr. Irfaan Ali told participants at the Guyana Basins Summit last week major strides in infrastructure and social services will see the...
Exploration

Industry has found more natural gas than it needs or can commercialise, oil remains king

OilNOW -
Energy market research and intelligence company Westwood Energy said in a report last week that more than 60% of the discovered resource in 2012-2020 was gas, even though ~70% of high-impact wells were targeting oil. This was due to...
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How a perfume entrepreneur profited by flipping cheap oil leases from Trump auctions

OilNOW -
(Reuters) A Myanmar-born U.S. perfume entrepreneur became a curiosity last year when she became the nation’s top buyer of oil-and-gas leases at the Trump administration’s federal auctions, despite having no apparent energy background. Since July, Levi Sap Nei Thang has...
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Guyana government sets firm January 2026 deadlines for local content approvals

The Ministry of Natural Resources has announced a new fixed timeline for reviewing and approving local content certification applications....

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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