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Apache spuds 4th Suriname well as search for more oil continues

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Apache Corporation said on Monday the Noble Sam Croft drill ship has commenced operations at the Keskesi East-1 exploration well approximately 14 kilometers (9 miles) southeast of Sapakara West-1, where the company had made its second discovery offshore Suriname....
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Key officials confirmed for Caribbean’s first major virtual petroleum summit

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The transformation in global oil and gas economies indicate that now, more than ever, is the time to bring the industry together to examine and overcome unprecedented challenges while uncovering and exploring available opportunities in the Caribbean markets. This, the...
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BP says oil demand growth era over

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(Bloomberg) -- BP Plc said the relentless growth of oil demand is over, becoming the first supermajor to call the end of an era many thought would last another decade or more. Oil consumption may never return to levels seen...
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Guyana has 20-year window of opportunity to maximise benefits from oil resources

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The effectiveness of Guyana’s development plans depends on the notion that the population can adequately benefit from the oil revenues that are beginning to flow, particularly since it has a limited window of opportunity in which to capture maximum...
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Schlumberger accepting applications from Guyanese women for ‘Faculty of the Future’ fellowships

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The Schlumberger Foundation is now accepting applications from Guyanese women for its ‘Faculty of the Future’ Fellowship Awards Program for the period 2021 to 2022. The Faculty for the Future program, launched in 2004, awards fellowships to women from developing...
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Faltering oil demand puts new pressure on OPEC+ production agreements

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(Bloomberg) -- It was meant to be the week when OPEC nations gathered in Baghdad to celebrate the cartel’s six decades as a dominant force in global oil markets. Instead, the Organization of Petroleum Exporting Countries and its allies will...
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Tanager-1 well voted most likely to hit a commercial discovery

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The Tanager-1 well in the Kaieteur Block offshore Guyana has been voted as the prospect that will most likely lead to a commercial discovery in the second half of 2020. This is the results of a poll conducted by...
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Oil revenues can help Guyana compete in multiple lucrative markets – Guyana’s Foreign Secretary

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Guyana’s Foreign Secretary Robert Persaud said the new oil producing nation must use some of the revenue from its vast hydrocarbon resources to bolster other export-oriented sectors of the economy. The South American emerging oil giant has already benefited from...
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Guyana’s 4th FPSO could be targeting production at the Yellowtail area

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The Yellowtail area offshore the South American country of Guyana contains oily fluids similar to those of the Liza discovery which US oil major ExxonMobil made back in 2015. With the recent additional reservoirs found in this location, it...
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Guyana planning “paced ramp-up in spending” for oil revenues

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New oil producer Guyana is keen on ensuring the windfall from its vast offshore hydrocarbon resources is spent in a manner that does not ‘overheat the economy’. "We are also mindful of the volatility inherent in petroleum revenues, as well...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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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