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Exploration

Hess plugs over 80% of its 2020 E&P budget into Guyana, Bakken

OilNOW -
Hess Corporation on Tuesday announced a $3 billion Exploration and Production capital and exploratory budget, of which more than 80% will be allocated to high return investments including Guyana. In a press release, Hess said that the $3 billion budget...
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Guyana deepwater off to spectacular 2020 start

OilNOW -
The new year began in Guyana with the first oil lift followed by ExxonMobil’s 16th discovery and the addition of more than 2 billion barrels of recoverable oil resource at the 6.6 million acres Stabroek Block. All this good news come...
News

Liza crude will attract interest from refineries as far away as China – IHS Markit

OilNOW -
Refineries in the US Gulf of Mexico (USGC) and China are expected to take particular interest in the crude being produced in the South American country of Guyana which IHS Markit expects will be discounted by $2 relative to...
News

Low to no growth expected in Caribbean – Guyana stands out – Dukharan

OilNOW -
Despite low to no growth projected in some Caribbean countries for 2020, Guyana stands out as a pillar in the region due to the South American country commencing oil production in December 2019 which will mean a spike in...
News

ExxonMobil ups Guyana resource to more than 8 billion barrels; announces 16th oil discovery

OilNOW -
Director of Guyana’s Department of Energy, Dr. Mark Bynoe, today announced that ExxonMobil has made its 16th oil discovery offshore Guyana. The new discovery was made northeast of the producing Liza field at the Uaru well, on the Stabroek Block. This new...
News

IHS Markit: Guyana – the world’s newest oil producer

OilNOW -
In an environment of oil supply glut, a new player entered the scene. Guyana, a nation bordering Venezuela and Brazil - two countries with large oil reserves - has established itself as an oil producer as of December 20...
Exploration

Potential for giant oil and gas fields remains greatest on South America’s Atlantic margin

OilNOW -
The presence of giant oil and gas fields in South America, stretching all the way from the Santos basin in the south to the Guyana-Suriname basin to the north, have long been known, with estimates of tens of billions...
News

Demand for oil will remain above 100 million barrels per day – Aramco CEO

OilNOW -
The global demand for oil is expected to remain over 100 million barrels per day according to Saudi Aramco CEO Amin Nasser, signaling good news for new producers such as Guyana. “There is good penetration from renewables and electric cars...
News

‘Women in oil and gas’ summit set for June in Guyana

OilNOW -
A three-day summit focusing on the role of women in Guyana’s emerging oil and gas sector is set to take place in June at the Guyana Marriott Hotel, under the theme: First Oil, First Step Focusing on Women. The event,...
News

Brent logs worst weekly loss in a year as China virus fears swell

OilNOW -
(Reuters) Crude prices sank more than 2% on Friday and Brent logged its biggest weekly decline in more than a year as concerns that a coronavirus will spread farther in China, the world’s second-largest oil consumer, curbing travel and...
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Latest News

NewsShikema Dey -

Wales Gas-to-Energy project accelerates with 120 day foundation plan

Guyana’s Gas-to-Energy project at Wales is entering a crucial phase as contractor Lindsayca Guyana pushes to complete all foundation...

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