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Why billions of barrels of oil go untapped in Brazil

OilNOW -
(Bloomberg) There’s enough as-yet-unassigned oil under the Atlantic Ocean off Brazil’s Rio de Janeiro to keep the entire world running for almost six months. So why is the crude just sitting there? A contract dispute between oil giant Petrobras...
News

Canadian Dollar slumps on ‘Gruesome’ GDP and sliding oil prices

OilNOW -
(Bloomberg) Canada’s dollar dived Friday fgollowing worse-than-anticipated gross domestic product figures and traders pared their expectations for interest-rate hikes from the Bank of Canada. The loonie, which has been one of the best-performing Group-of-10 currencies this year, weakened as much...
News

ExxonMobil makes natural gas discovery offshore Cyprus

OilNOW -
ExxonMobil on Thursday said it has made a natural gas discovery offshore Cyprus in the Eastern Mediterranean at the Glaucus-1 well wrapping up what has been a good month with two major discoveries made earlier in February in the...
News

Political discord hindering Guyana’s preparations for oil – Nigel Hughes

OilNOW -
Guyanese Attorney–At–Law, Nigel Hughes, believes that uncertainty surrounding the current political climate in the South American country following the December 21 passage of a no-confidence motion against the government is hindering its ability to effectively prepare for the start...
News

Guyana business minister plugs investment at Baker Institute forum

OilNOW -
Guyana’s Minister of Business, Dominic Gaskin, told a forum in the United States on Tuesday that the South American country is looking to chart its own course for economic prosperity and welcomes foreign investment that advances this agenda. Mr. Gaskin...
News

EITI assesses implementation in eight countries; TT acknowledged for ‘dynamic platform’

OilNOW -
As Guyana prepares to submit its first report to the Extractive Industries Transparency Initiative (EITI), the organization said on Wednesday that its Board assessed the status of eight implementing countries, including Ethiopia, Ghana, Guinea, Malawi, Mauritania, Nigeria, Norway and...
News

Possible oil reserves upsized for Jamaica

OilNOW -
The probability of finding oil offshore Jamaica improved to a one-in-five chance of success, based on an independent report utilising 3D data, the Jamaica Gleaner reported on Wednesday. The 2019 report also upsized the 2017 baseline estimates of the quantity...
News

Kazakh leader orders $3.6 billion pre-election oil fund draw-down

OilNOW -
ASTANA (Reuters) - Kazakh President Nursultan Nazarbayev ordered his government on Wednesday to tap the country’s rainy-day fund for $3.6 billion in order to boost public sector salaries and social aid payouts and develop housing and infrastructure. Nazarbayev, who has...
News

AmCham aiming to attract foreign investment to Guyana at upcoming NY forum

OilNOW -
The Guyana affiliate of the American Chamber of Commerce (AmCham) will be hosting a Business Forum and Outreach with members of the business community in New York on March 2 at the Inter-Continental Hotel at Times Square. The forum was...
Exploration

Guyana discoveries help ExxonMobil add 4.5 billion barrels to its reserves

OilNOW -
ExxonMobil said on Tuesday it added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year’s production. The company said continuing success in exploration and strategic acquisitions in Guyana and Brazil have...
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Latest News

NewsKemol King -

Europe took all of Guyana’s Golden Arrowhead oil cargoes lifted in September

Europe received all four cargoes of Golden Arrowhead crude oil lifted from ExxonMobil’s Yellowtail project in September, according to...

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