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The surprising winner of the oil & gas exploration race

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(Oil Price) Norway saw the highest number of oil and gas discoveries in the third quarter, with six out of the 38 oil and natural gas finds made around the world, data and analytics company GlobalData said in a new...
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BP eyes Brazil gas buildout, may swap LNG imports for domestic output

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(Reuters) BP Plc (BP.L) wants to be part of an effort to build up natural gas infrastructure in Brazil, an executive said on Tuesday, and believes a power plant it is building in Rio de Janeiro could eventually be...
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Hess strikes oil in deepwater Gulf of Mexico

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Hess Corporation (NYSE:HES), a 30 percent co-venturer in Guyana’s Stabroek Block, on Tuesday announced an oil discovery at the Esox-1 exploration well located in Mississippi Canyon Block No. 726 in the deepwater Gulf of Mexico. Esox-1 was drilled in 4,609 feet (1,405...
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Mauritania now ties Guyana for 2nd most discovered volumes this year

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On Monday BP announced a major gas discovery, Orca-1, off the coast of Mauritania, which Rystad Energy says is the deepest and largest discovery so far this year. The Norway-based energy research and business intelligence company estimates Orca-1 holds...
Exploration

World ‘awash’ in oil says US Energy Secretary

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(Bloomberg) Global markets are “awash” in crude thanks to the surge in U.S. oil output, and the boom looks set to continue, U.S. Energy Secretary Rick Perry said in a Bloomberg TV interview. U.S. shale production has turned the world...
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Algeria looking to reintroduce PSAs to boost O&G investments

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Algeria has recently introduced a new hydrocarbons law bill whose goal is to increase the attractiveness of its petroleum fiscal framework after years of reduced foreign investment in the oil and gas sector. However, like Guyana, success in establishing...
Exploration

Halliburton, Repsol sign cloud data management deal for exploration and production

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Halliburton Company (NYSE: HAL) announced on Monday a multi-year agreement with Repsol to provide a cloud-based master data management solution for exploration and production (E&P) activities. The software as a service enables users to load, ingest, manage and access...
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BP’s gas discovery in Mauritania is largest for 2019

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Oil major BP’s major gas discovery at the Orca-1 exploration well, which is located in the BirAllah area in Block C8 offshore Mauritania, could be the largest deepwater find this year. The well, located in the BirAllah development, was drilled...
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Small oil-and-gas companies get cold shoulder from large banks

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(Reuters) - The largest banking lenders to the oil and gas sector are becoming more cautious, marking down their expectations for oil and gas prices that underpin loans in a move expected to put further financial stress on struggling...
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Guyanese companies aiming to maximise participation in GIPEX 2019

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As the local business community in South America’s newest oil and gas hotspot continue to position itself for growing opportunities in the emerging petroleum industry, efforts are being made to ensure participation in the country’s largest oil conference is...
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GranMorgu FPSO construction hits 27% as Suriname targets first oil by 2028

Construction of the floating production, storage and offloading (FPSO) platform for Suriname’s GranMorgu project has reached 27%, state oil...

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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