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Guyana oil production will exceed 600,000 bpd over next decade raking in billions per year in profit – Norway-based analyst

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Rystad Energy - an independent research and business intelligence company based in Norway - predicts that oil production in Guyana will exceed 600,000 barrels per day over the next decade, raking in billions of dollars in profit per year...
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Local content expert says policy must capture capabilities of Guyanese workforce

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Rene Roger Tissot, an energy and development economist specializing in local content policies and strategies says Guyana should have a plan in place to develop the capabilities of its people before commercial oil production comes on stream. One way...
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Guyana discoveries help give China foothold in region but big spending remains tempered

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China National Offshore Oil Corporation (CNOOC) is a minority partner in ExxonMobil's major oil discoveries in Guyana and the company has nabbed licenses in Mexico's deep waters, giving China a foothold in the region's two most exciting frontiers. While...
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TOTALTEC graduates urged to be uncompromising with safety

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TOTALTEC Oilfield Services Guyana Inc. on Monday held a graduation ceremony for its first batch of oilfield operators who are now equipped with world class capacity to work in the oil and gas industry. The TOTALTEC Academy Oilfield Safety &...
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CNBC: Oil prices could soon ‘spike’ toward $100

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OPEC kingpin Saudi Arabia is determined to keep oil prices trading around current levels, one strategist told CNBC on Monday, but a total shutdown in Venezuelan production could soon prompt crude futures to skyrocket toward $100 a barrel. Prices in the oil market have been...
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Oil prices fall as supply from top 3 producers set to rise

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(Reuters) - Oil prices dropped on Monday on signs that output from the three top crude producers, Russia, the United States and Saudi Arabia, would climb to meet concerns about supply amid strong demand. Brent crude futures were at $76.02...
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Regulators should be politically and financially independent says head of Mexico’s ASEA

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Executive Director of Mexico’s National Agency for Industrial Safety and Environmental Protection of the Hydrocarbons Sector, Carlos De Regules Ruiz Funes says Guyana has the unique ability of “getting it right from the start” but key to this is...
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Guyana must strengthen legislative framework to fight corruption – Political Risk Analyst

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It is of critical importance that with just two years away from ‘first oil’ the Government of Guyana focuses on strengthening its legislative framework so that it can effectively fight corruption. This is the advice being shared by Thiago de...
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BP continues to build on success of 2017

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(Forbes) At last week’s AGM held at Manchester Central Convention Complex, Bob Dudley, BP group chief executive took the opportunity to extol the company’s progress this year. The highlight was the start of seven major projects on time and...
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Guyana expected to play key role in South America’s petroleum output over next decade

OilNOW -
South America’s oil and gas output is expected to stay rather flat over the next five years, increasing to around 11.7 million barrels of oil equivalent per day (boe/d) by 2025, says Norway-based Rystad Energy. The declining production from...
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Exxon to relinquish 9% of Stabroek Block acreage

ExxonMobil will relinquish at least 9% of the vast Stabroek Block in Guyana as required by its petroleum agreement,...

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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