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Westwood expects 2020 to close off with flurry of contract awards, Exxon’s Payara to push uptick

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Sanctioning of the Payara Development offshore Guyana has been driving several contract awards and confirmations with companies in the oil and gas industry ranging from vessel construction to subsea installation. The US$9 billion project was approved by Guyanese authorities in...
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Award of Kaieteur, Canje blocks free from corruption- Vice President

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Guyana’s Vice President, Dr. Bharrat Jagdeo, said on Friday the award of the Kaieteur and Canje blocks offshore the South American country was in keeping with the nation’s laws and that no evidence of corruption has been found to...
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Guyana finalizing Qatar Petroleum entry into offshore blocks – Bharrat

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Authorities in Guyana are in the process of finalizing arrangements for Qatar Petroleum’s entry into offshore blocks in what is another major development in the South American country’s emerging oil and gas industry. Back in July 2019, Qatar Petroleum announced...
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CGX submits applications to relinquish portions of Demerara, Corentyne & Berbice blocks

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In compliance with the petroleum agreements it signed with the Government of Guyana as well as the nation’s laws, CGX Energy Inc. has submitted applications to relinquish 25 percent of its Demerara, Berbice and Corentyne Blocks. According to the company’s...
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Apache lines up 5th exploration well in Suriname as priority shifts to South America

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U.S. based Apache Corporation has selected its 5th exploration well offshore Suriname at the prolific Block 58 where it has already made three discoveries and is now moving forward with appraisal drilling. The company said on its Q3 2020...
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IMF urges Mexico state oil company to urgently overhaul its business strategy

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(S&P Global) Pemex needs a complete overhaul that includes modifications to its business strategy and reforms to its governance and procurement as the state oil company puts a drag on the Mexico's growth, the International Monetary Fund said. Despite missing...
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ExxonMobil to conduct oil spill response maintenance activity for Guyana operations

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ExxonMobil Guyana announced Thursday via its facebook page that it will be conducting planned maintenance on equipment used for oil spill response operations over the duration of five days, beginning November 5. “This maintenance activity will involve deploying some offshore...
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Curb in oil production pushes Guyana’s 4th crude lift back by a month – Bharrat

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The curb in oil production offshore Guyana to reduce the volume of gas being flared has resulted in a push back in the timeline for the country’s 4th million-barrel crude lift. ExxonMobil, operator at the Stabroek Block, had taken a...
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Oil down more than 1% as markets whipsawed by U.S. election uncertainty

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(Reuters) - Oil dropped on Thursday as Democrat Joe Biden edged closer to the White House in a nail-biting U.S. presidential election, but the Republicans look likely to retain Senate control, decreasing the chances of any huge COVID-19 relief...
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Shell farms into South Africa deepwater acreage

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(S&P Global Platts) Shell has farmed in to South African deepwater exploration blocks days after Total announced a second gas and condensate discovery nearby, as interest grows in a potential new gas condensate hub off the country's south coast,...
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Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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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