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Exploration

ExxonMobil prepping for drill-stem test at Redtail-1 offshore Guyana

OilNOW -
A drill-stem test operation is set to get underway at the Redtail-1 well site located 103 nautical miles off the coast of Guyana at the Stabroek block. Redtail-1 is ExxonMobil’s 18 discovery on the block, announced in September. The well...
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ExxonMobil hoping to replicate Guyana success as 1st Suriname discovery extends position in region

OilNOW -
Covering an area 1.2 million acres (4,749 square kilometers), Block 52 is located approximately 75 miles offshore north of Suriname’s capital city, Paramaribo, and represents the first discovery ever made by U.S. oil major ExxonMobil, offshore the South American...
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Brent oil predicted to rise above US$55 by end of 2021

OilNOW -
Oil and gas demand growth is expected to be exceptional next year as the coronavirus vaccine takes hold and OPEC+ looks to constrain supply. In fact, U.K. based consultancy group Wood Mackenzie believes that by the end of 2021,...
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Brazil removes 32 high potential offshore blocks from 17th bid round

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(S&P Global Platts) Brazil's National Energy Policy Council, or CNPE, dealt a sharp blow to the country's offshore exploration and production program by removing 32 high potential but environmentally sensitive offshore blocks from the upcoming 17th bid round during...
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Venezuela claims to have thwarted plot to blow up refinery

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(Reuters) -Venezuela’s Oil Minister Tareck El Aissami said on Friday that authorities had disrupted a plan to attack the country’s 146,000-barrel-per-day (bpd) El Palito refinery and had arrested two suspects in the plot. El Aissami alleged, without providing evidence, that...
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Warnings of looming supply gap intensify – Guyana production set to take-off

OilNOW -
Warnings about a looming oil and gas supply gap continue to increase with a new report pointing out that the oil and gas industry will have to overcome its pandemic-induced retrenchment and boost investment by at least 25% annually...
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EU joins calls for diversified economy as Guyana’s O&G sector balloons

OilNOW -
European Union Ambassador to Guyana Mr. Fernando Ponz Canto has joined the call for the South American country to diversify the economy and ensure that it does not become reliant on just the oil and gas sector. He made these...
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Diversification in energy sector will help Guyana realize green economy dream – U.S. Ambassador

OilNOW -
While the plans of the People’s Progressive Party/Civic (PPP/C) administration to pursue regulatory reform for the oil sector while simultaneously improving the energy grid is indeed commendable, U.S. Ambassador to Guyana, Sarah-Ann Lynch, is of the view that diversification...
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Petronas and ExxonMobil hit pay at Sloanea-1 offshore Suriname

OilNOW -
Petronas through its subsidiary, Petronas Suriname E&P B.V. (PSEPBV) announced Friday that it made its first discovery of hydrocarbon in Suriname with the successful drilling of the Sloanea-1 exploration well located in Block 52. PSEPBV is the operator of Block...
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ICJ set to deliver judgement on question of jurisdiction in Guyana, Venezuela border case

OilNOW -
The International Court of Justice (ICJ) announced on Thursday it will deliver its Judgment on the question of its jurisdiction in the case concerning the Guyana v. Venezuela Arbitral Award of October 3, 1899, on Friday, December 18, 2020. The...
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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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