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Venezuela becoming increasingly aggressive in push for more territory

OilNOW -
Reports indicate that Venezuela has signaled its intention to remap its Caribbean oil and gas prospects which is a move that could further escalate rising tensions between that country and neighbouring Guyana, which has of late become an oil...
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WoodMac estimates Pluma could contain 300 million barrels of oil

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Industry analyst Wood Mackenzie estimates that ExxonMobil’s 10th discovery off the Guyana coast at the Pluma 1 well could add an additional 300 million barrels of oil to what is a rapidly growing resource base for the US oil...
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Demand for land increases with oil and gas prospects

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As the development of Guyana’s oil and gas resources continues, the Guyana Lands and Surveys Commission (GL&SC) has seen an increased demand for land. “There is a lot of interest in…waterfront lands and many people have their own idea about...
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Large-scale land, water remapping project to get underway in Guyana

OilNOW -
As it embarks on a project to remap the entire country, the Guyana Lands and Surveys Commission (GL&SC) is establishing a Hydrographic Surveying Unit to deal with a range of features including those related to offshore exploration. According to Chief...
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BP detects 1 billion barrels of oil at Thunder Horse field

OilNOW -
British energy company BP said Tuesday it has found 1 billion barrels of crude at the Thunder Horse field in the Gulf of Mexico after analyzing the results of breakthrough seismic imaging.  Elsewhere, two new discoveries near the Na Kika...
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US$65M expended with more than 300 local suppliers during 2018 from Exxon operations in Guyana

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ExxonMobil said in an update on Monday that throughout its activities in Guyana, the company continues to emphasize and promote direct benefits to local business. “More than 50 percent of the Guyana affiliate’s employees, contractors and subcontractors are Guyanese, a...
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Liza Phase 1 moves into ‘peak execution’ – ExxonMobil

OilNOW -
ExxonMobil said on Monday that work on the Liza Phase 1 development offshore Guyana is progressing and has moved into its peak execution phase ahead of expected startup in early 2020. “Drilling of development wells in the Liza field is...
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Oversupply, faltering growth to weigh on oil prices in 2019: Reuters poll

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(Reuters) - Crude oil prices look likely to trade below $70 per barrel in 2019 as surplus production, much of it from the United States, and slowing economic growth undermine OPEC-led efforts to shore up the market, a Reuters...
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Fund to manage oil revenue gets green light in Guyana

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The long awaited 2018 Natural Resource Fund bill was passed in the National Assembly on Thursday evening. The bill, which saw minor amendments, was passed in the absence of the opposition, People’s Progressive Party/Civic. The opposition had earlier taken a decision...
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Venezuela urged to back off as Guyana vows to continue offshore exploration, development

OilNOW -
Guyana’s Foreign Minister, Carl Greenidge, said on Thursday that the oil-rich South American country has no intention of slowing down offshore exploration and development activities and reiterated that companies operating in the Stabroek Block will continue to execute their...
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Guyana and global oil exports marked safe as US market tariffs hit other industries

By Alana Nadir The energy industry was marked safe from sweeping tariffs announced this week by U.S. President Donald...

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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