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Oil suffers worst day of 2019 as trade turmoil swamps confidence

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(Bloomberg) - Oil spiraled to its worst daily performance of the year as mounting trade tensions between the world’s biggest economies sent investors fleeing from risky assets. Futures in New York fell almost 6% on Thursday for the steepest decline...
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Guyana opposition pushing bipartisan management of oil sector

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With the South American country of Guyana just months away from first oil and possible early election, the main opposition party says it would like to see measures being put in place to ensure the country’s emerging petroleum sector...
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SARA says ‘can’t confirm nor deny’ report on oil blocks investigation

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Guyana’s State Asset Recovery Agency (SARA) is not yet providing any information on a Bloomberg report published on Wednesday in which the head of the agency is quoted as saying a probe is underway regarding the award of offshore...
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Tilapia-1 ‘the big catch’ for Guyanese geoscientist Ashlika Persaud

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When ExxonMobil and its joint venture partners in the Stabroek Block offshore Guyana HESS and CNOOC Nexen announced the Tilapia discovery, it was a special moment for young Guyanese geoscientist Ashlika Persaud. Not only did she work with the team...
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ExxonMobil’s disposing of GoM assets draws interest from Repsol SA, Ineos

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Repsol SA and UK based Ineos Group Holdings are showing interest in US oil major ExxonMobil’s selling off of oilfields in the Gulf of Mexico. According to a Bloomberg article, the assets could be worth as much as $1.5 billion....
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Offshore sanctioning nearing peak – Rystad Energy

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The annual growth rate in the global offshore oilfield services market will likely be halved after 2022, according to Rystad Energy. The independent energy research and consultancy firm headquartered in Norway with offices across the globe forecasts that the service...
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ExxonMobil Guyana, Silver Sands Sports Club partnership to benefit villagers

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Villagers in Waramuri community located in the South American country of Guyana, will benefit from a newly refurbished recreational ground as a result of a partnership between the Silver Sands Sports Club and ExxonMobil Guyana. The facility, located in Region...
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Bourbon Offshore opens office in Guyana; aims to ‘maximize local content’

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Marine Services provider; Bourbon Offshore, has opened an office in Guyana - South America’s newest oil and gas frontier. The French-based company, with operations in more than 40 countries around the world, provides marine and logistics as well as...
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T&T shallow water bid round disappoints

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Former Trinidad and Tobago (TT) Minister of Energy and Energy Affairs, Kevin Ramnarine, has called the outcome of the 2018 shallow water bid round disappointing and said that it demonstrates how “unattractive” the country’s acreage has become due to...
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ExxonMobil New Mexico Permian development to generate $64 billion in benefits

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US oil major ExxonMobil said that its Permian Basin development in New Mexico will generate approximately $64 billion in net economic benefits for the state and local communities over the next 40 years. Impact Data Source conducted for ExxonMobil pegged...
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Guyana oil production could edge closer to one million barrels per day by year-end

ExxonMobil Guyana expects production from the Stabroek Block to climb sharply before the end of 2025, driven by the...

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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