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Exploration

Around 25 more prospects remain at Stabroek with further upside to 8 billion boe estimate

OilNOW -
With 16 discoveries made so far at the Stabroek Block offshore Guyana, multiple exploration prospects remain in play that could push the resource estimate even higher than the most recent update released by ExxonMobil in January. ExxonMobil has raised the...
News

Guyana produced 427,282 barrels of oil from December 20-31

OilNOW -
Guyana’s Ministry of Finance in a report on February 17 stated that petroleum production for December 2019 amounted to 427,282 barrels or 35,607 barrels per day and that there were no operational losses for the period. The Report on Petroleum...
News

Venezuela seizes tanker holding almost 1 million barrels of oil

OilNOW -
(Bloomberg) A crude tanker stuck at sea for over a year has become the latest front in the battle over Venezuela’s oil riches after being seized last week. Citgo Petroleum Corp., led by appointees of Venezuelan opposition leader Juan Guaido,...
News

Oil prices slip as coronavirus concerns linger

OilNOW -
(Reuters) - Oil prices slipped on Tuesday on lingering concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand, tracking losses in financial markets. Brent crude LCOc1 was at $57.30 a barrel, down...
Exploration

Eni’s new discovery offshore Mexico could contain up to 300 million barrels of oil

OilNOW -
Eni on Monday announced a discovery at the Saasken Exploration Prospect offshore Mexico. The company said preliminary estimates indicate that the discovery may contain between 200 and 300 million barrels of oil. The Saasken Exploration Prospect is located in Block...
Exploration

Liza field leading investments at prolific Stabroek Block

OilNOW -
Capital expenditure by project offshore Guyana sees the Liza field at the 6.6 million acres Stabroek Block leading the pack through 2030 having already surpassed US$3 billion in investments for 2019. “The 2015 Liza find has completely rewritten the script...
News

Global Witness ‘anti-oil agenda’ could cost Guyana billions in revenue– AMI Political Analyst

OilNOW -
A senior political analyst attached to Americas Market Intelligence (AMI) says the recently released Global Witness report on Guyana is the NGO’s attempt at spreading its anti-oil ideology and urged Guyanese to do their own fact-checking and come to...
Exploration

More disappointment for Tullow with dry hole offshore Peru

OilNOW -
Tullow Oil plc (Tullow) announced on Monday that the Marina-1 exploration well drilled on the Z-38 licence offshore Peru reached Total Depth and has not encountered significant hydrocarbons. The well tested the La Cruz and Mal Pelo formations where minor...
News

Commerce group touts World Trade Center for Guyana by year-end

OilNOW -
The Florida headquartered Guyanese American Chamber of Commerce (GACC) has initiated efforts to set up a World Trade Center in Guyana by the end of 2020, as it is of the view that the South American oil producing country...
News

10 billion US dollars a year and growing

OilNOW -
By Steven Jasmin - OilNOW  A few weeks ago, I posted a breakdown of the estimated $500 Billion USD worth of oil that has been discovered and will be extracted. The post was well received and re-shared quite a bit....
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Latest News

Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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