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Impassioned calls made for investment, strong partnerships at launch of Canada-Guyana Chamber

OilNOW -
The building of strong partnerships and need for robust investment across a number of sectors in Guyana were underscored on Friday at the launch of the Guyana-Canada Chamber of Commerce held at the Arthur Chung Conference Centre, on the...
News

OPEC+ reaches deal as new rifts emerge ahead of testing times for the cartel

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(Bloomberg) --After five days of difficult talks that exposed new rifts between core members, OPEC+ agreed to gently ease output cuts next year. The deal appeared to satisfy the oil market and most of the cartel’s members but strained...
Exploration

Brazil’s Petrobras could turn to Guyana for offshore acreage, CEO says

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(S&P Global) Brazilian state-led oil company Petrobras could turn to Guyana for access to acreage along South America's equatorial margin if local environmental regulators do not grant permits to drill in Brazil's Foz do Amazonas Basin, CEO Roberto Castello...
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In a low oil price world fiscal terms will have to be competitive, but contracts must also be progressive – expert says

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The world is moving now faster than ever towards renewable energy sources and this along with other factors that impact the demand for oil means that going forward, prices are not likely to increase beyond $50 per barrel. This,...
News

U.S State Department supporting oil spill response preparation efforts

OilNOW -
With Guyana now being an oil producing nation that currently has one operational field within the multi-billion barrel Stabroek Block as well as two other slated to begin production by 2025, the country has placed keen focus on oil...
Exploration

Touchstone makes significant gas discovery in Trinidad and Tobago

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Touchstone Exploration Inc. said Thursday drilling at the Cascadura Deep-1 exploration well on the Ortoire exploration block onshore Trinidad and Tobago encountered significant hydrocarbon accumulations based on drilling and wireline log data. The Cascadura Deep-1 well was drilled to a...
News

Guyana to be centre of drilling activity in ‘great ramp up’ of this decade – Kevin Ramnarine

OilNOW -
New oil producer Guyana is on an unprecedented growth trajectory that will see a rapid increase in aggregate demand for goods and services in the economy this decade which means the South American country must ensure it has the...
News

Guyana’s Central Bank mitigating risks, levelling playing field as country prepares for massive economic takeoff

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The Bank of Guyana (BoG), which is the central banking institution of the new oil producing nation, is undertaking several initiatives geared towards creating and maintaining a favourable and stable fiscal environment. This is being developed, particularly to cater...
News

World class oil and gas institute planned for Guyana, will also service the region – President Ali

OilNOW -
The Guyana government has commenced discussions for the establishment of a ‘world class’ oil and gas training institute in the South American country that would also serve the needs of the region. This was disclosed by President Irfaan Ali, during...
Exploration

Average discovery size at Stabroek block is 500 million boe with a record 90% success rate

OilNOW -
Since 2015, ExxonMobil has made 18 discoveries at the Stabroek block offshore Guyana with just two non-commercial encounters – Skipjack-1 and Sorubim-1 – which demonstrate a 90% exploration success rate in the prolific Guyana-Suriname basin. The 18 discoveries so far...
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Afreximbank and Suriname to launch US$5B local content facility

PARAMARIBO, Suriname — African Export-Import Bank (Afreximbank) will partner with the Government of Suriname to establish a US$5 billion...

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