Opinions

The views expressed here are solely those of the author in their private capacity and do not represent the views of OilNOW.

Opinions

Considerations for an oil and gas lifting agreement for Guyana

Bobby Gossai, Jr. -
In offering an exploration opportunity in a block, the motivation of the government largely is to encourage investment in the form of exploration activities, such as shooting seismic and exploration drilling. The prime objective of the oil company is...
Opinions

The structure and features of the global oil market for Guyana

Bobby Gossai, Jr. -
The members of the Organization of the Petroleum Exporting Countries (OPEC) negotiate over production allocations. This is as opposed to restricting their choice set to non-cooperative or fully cooperative strategies. There are two stages in the OPEC decision tree...
Opinions

Oil supply between OPEC’s cartelization and new producers such as Guyana

Bobby Gossai, Jr. -
The oil supply market is a complex system with complex rules and multiple interactions among the petroleum exporting countries and non-OPEC countries such as Guyana, which makes the modelling and forecasting of market behaviour a challenging task. The...
Opinions

Protracted elections could see Guyana losing hundreds of millions from delay in project approvals

OilNOW -
By Kevin Ramnarine - OilNOW  Last Friday, in presenting its first quarter 2020 results, Exxon mentioned that the Payara project would be delayed by at most twelve months and the target of 750,000 barrels of oil per day (bopd) production...
Opinions

Relationship between petrodollar and oil price shocks for Guyana

Bobby Gossai, Jr. -
The crude oil market has a dominant impact on the total connectedness of the crude oil currency-implied volatility relationship, suggesting that crude oil affects currencies more than currencies affect crude oil during oil price volatilities. However, during the crude...
Opinions

Network structure of oil producing countries and the impact of oil price changes

Bobby Gossai, Jr. -
Fluctuations in oil prices have caused oil-producing countries to design policies to control the global oil production and increase oil prices. The Organization of the Petroleum Exporting Countries (OPEC) regularly takes actions to coordinate its members’ oil production decisions...
Opinions

OPINION: Bottom has fallen out for WTI oil prices: close watch on Brent futures for Guyana

Bobby Gossai, Jr. -
West Texas Intermediate crude turned negative today, reaching the lowest on record with its seventh consecutive decline and the biggest fall on record. Chevron and Exxon led losses in the blue-chip index as West Texas oil futures expiring Tuesday...
Opinions

Oil prices, OPEC and non-OPEC oil production: coordination for Guyana

Bobby Gossai, Jr. -
The Organization of the Petroleum Exporting Countries (OPEC) was established in Baghdad in 1960. The founding members were Iraq, Iran, Kuwait, Saudi Arabia and Venezuela. Later on, the following members joined the organization: Qatar, Indonesia, Libya, United Arab Emirates...
Opinions

Understanding the dynamics of the global oil market: OPEC and non-OPEC production

Bobby Gossai, Jr. -
Crude oil is a major component of modern lifestyle. It has played an important role in many world events for over a hundred years. Wars have been fought over crude oil, and energy security is one of the major...
Opinions

Policy interventions for Guyana’s dependency on crude oil and financial implications

Bobby Gossai, Jr. -
In the context of the oil price volatility (OVP), which is occurring, the global dependency on crude oil has serious financial implications; chiefly, trade deficits are now foremost the result of expenditure allocated to crude oil imports. Expenditure devoted...
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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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