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Venezuela reportedly gives Russia control of gas deposits near TT

OilNOW -
This week, Nicolás Maduro gave two new gas deposits to Russia, offering up 100% of the project and all gas rights exploited, according to a report on online news service Panam Post. The report, published on June 14, said...
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‘Invite World Petroleum Council to assess Guyana’s O&G readiness’ – former minister

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Former Guyanese Minister of Natural Resources Robert Persaud is calling on the Government of Guyana to invite a world recognised body to review the South American country’s activities in the oil and gas sector. But he added the caveat that...
Exploration

Why explorers are in the grip of an existential crisis

OilNOW -
The energy transition is challenging the raison d'etre of conventional exploration, which has always been the industry's primary engine for growth. So says Andrew Latham, Vice President of Global Exploration at Wood Mackenzie. In a low-carbon future, is there still room...
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“Grab each and every opportunity” in O&G – Guyanese youths urge

OilNOW -
The late influential business writer Peter Drucker once said, "the entrepreneur always searches for change, responds to it, and exploits it as an opportunity.” This is also the advice being given to youths by two young men who have...
News

Guyanese company looking to boost aviation manpower capacity as country preps for first oil

OilNOW -
Guyanese firm, Orinduik Development Inc., is seeking to strengthen the country’s aviation sector through the establishment of an institute - Guyana Aviation Polytechnic - that will offer a range of programmes in aviation technology, as the South American country...
Exploration

Guyana government did not sanction oil blocks probe

OilNOW -
The Guyana government said on Friday it only learnt about a probe into the award of oil blocks through media reports and it has not received any formal update from the State Asset Recovery Agency (SARA) in relation to...
News

15% of global oil discoveries since 2015 made in Guyana

OilNOW -
Guyana accounts for 15 percent of conventional oil discoveries made globally since 2015 and from all indications, potential for more crude strikes offshore the South American country remains high. Since the first giant Liza discovery announced back in May 2015,...
News

US cements position as world leader in oil reserves; Guyana pushing offshore replacement ratio

OilNOW -
In its latest annual report of world recoverable oil resources, Rystad Energy, the independent energy research firm, finds that the United States currently holds 293 billion barrels of recoverable oil resources. This is 20 billion barrels more than Saudi...
News

Guyana strengthening relations with Russia; investment and education on radar

OilNOW -
Guyana’s President David Granger on Wednesday said the South American country looks forward to strengthening its relations with Russia and will pursue the successful conclusion of agreements relating to investments and the mutual recognition of educational qualifications. “Guyana will continue...
News

Natural gas prices enter extreme negative territory in the Permian – WoodMac

OilNOW -
Global energy research and consultancy group, Wood Mackenzie, says the Permian natural gas spot price continues to enter new frontiers in 2019. The pipeline constraints that  sparked extreme negative Permian daily prices first appeared in late March and early April. As new...
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Exxon gives back portion of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the...

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