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Brent edges past $60 to reach highest point in over a year

OilNOW -
(Reuters) - Oil prices rose on Monday to their highest in just over a year, with Brent futures nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures to...
News

Bahamas well fails to deliver commercial crude

OilNOW -
The Perseverance #1 well in The Bahamas did not encounter hydrocarbons in commercial quantities, Bahamas Petroleum Company (BPC) announced on Monday. The well reached a depth of approximately 3,900 meters without incident and will now be permanently plugged and...
Exploration

World on track to run out of sufficient oil supplies, Rystad Energy analysis shows

OilNOW -
The world is on track to run out of sufficient oil supplies to meet its needs through 2050, despite lower future demand due to the coronavirus pandemic and the accelerating energy transition – unless exploration speeds up significantly and...
News

Talks underway on harnessing Guyana-Suriname energy potential for Arco Norte energy corridor

OilNOW -
The establishment of an electricity grid to connect the Arco Norte region of South America has been long in the making, with studies already conducted, but now the conversation has commenced on utilising the energy potential of Guyana and...
News

Africa, Americas lighting up deepwater exploration this year

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Drilling of high-impact oil and gas prospects in 2020 suffered at the hands of the global pandemic, but the overall results were nevertheless positive, a Rystad Energy analysis reveals. The success rate rose to 41% from 32% in 2019...
News

Guyana hoping oil revenue will help remove development roadblocks

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The revenues derived from the oil and gas industry are expected to have a transformational effect on Guyana, particularly the standard of living. President Irfaan Ali recently stated during a public forum, that the funds will be instrumental in...
News

Staatsolie boss wants Guyana, Suriname to build world-class shore base as oil discoveries grow

OilNOW -
Both Guyana and Suriname are without adequate shore base facilities to support the growing needs of oil companies that continue to ramp up exploration and production activities offshore the two countries. But this state of affairs could change quite...
News

“No company will invest where they cannot get the appropriate margin” – Nigeria’s state oil firm

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(Reuters) - Nigeria’s state oil company is renegotiating commercial contract terms with major oil firms, its chief told Reuters, in a move that it hopes will keep investment flowing into a sector crucial for its economy at a time...
News

Exxon contractors reveal wide range of procurement opportunities to Guyanese vendors

OilNOW -
As exploration and production activities offshore Guyana continue to expand, so too are the needs of the multiple contractors servicing the oil and gas industry. Over 700 local businesses participated this week in ExxonMobil’s virtual Guyana Supplier Forum where...
News

Exxon lowers production levels in Guyana as faulty compressor sent for repairs

OilNOW -
ExxonMobil Guyana said on Friday that a technical team has safely removed the 3rd stage compressor from the package enclosure on the Liza Destiny FPSO and is preparing it for transport onshore. An initial examination determined that the unit has...
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UPDATED: A guide to Guyana’s Gas-to-Energy project

Editor's note: This article was updated on November 25, 2025. It was first published on December 29, 2024. The...

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