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Maka, Sapakara could be developed with 150,000 b/d FPSO

OilNOW -
The Maka Central-1 and Sapakara West-1 discoveries, the first of their kind offshore Suriname, are likely to be developed in coming years utilizing a high capacity floating oil production complex. The two discoveries are located approximately 20 kilometers (12...
Exploration

Supercomputers, high-speed internet key to operating oil fields

OilNOW -
Developing energy requires a big toolbox. It relies on detailed geological surveys to find the oil and gas, high-performance drilling platforms to access the reservoirs and, finally, the ability to transport the crude or natural gas responsibly. US oil...
News

Venezuela’s oil exports sink to 17-year low, choked by U.S. sanctions

OilNOW -
(Reuters) - Venezuela’s oil exports plummeted in May to their lowest level since 2003 as U.S. sanctions choked exports and two Mexican firms that had acted as intermediaries for Venezuelan crude sales stopped receiving oil, Refinitiv Eikon data and...
News

Oil falls below $40 on doubts early OPEC+ meeting will go ahead this week

OilNOW -
(Reuters) Oil prices erased gains on Wednesday, with Brent crude futures falling back below $40 a barrel, on doubts an early meeting of some of the world’s most powerful oil producers will go ahead as planned. OPEC and non-OPEC allies,...
News

How did the ingenious use of bamboo poles help drill the first oil wells?

OilNOW -
The earliest known oil wells were drilled in China in 347 CE. These wells had depths of up to about 240 metres (790 ft) and were drilled using bits attached to bamboo poles. The oil was burned to evaporate brine and produce salt. By the 10th century, extensive bamboo pipelines connected oil...
News

Salvation Army welcomes support from ExxonMobil to help Guyanese affected by COVID-19 measures

OilNOW -
When COVID-19 cases began appearing in Guyana resulting in quarantine measures and reduced economic activity, the Salvation Army Guyana Division had to move quickly to ensure that persons in need still got fed; but there was one big hurdle—funding. Persons...
News

IEA says the coronavirus crisis has set in motion the largest drop of global energy investment in history

OilNOW -
The International Energy Agency believes the coronavirus pandemic has paved the way for the largest decline of global energy investment in history, with spending set to plummet in every major sector this year, CNBC said in a reported on...
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...
News

Oil climbs as Guyana lifts its second cargo, narrows search for marketing firm

OilNOW -
Oil futures rose this week pushing both Brent and WTI contracts to around 2 ½ month peaks as new oil producer Guyana lifted its second 1 million barrels of crude from the ExxonMobil-operated Stabroek Block where production began last...
Exploration

Factbox: Oil and gas industry delays repairs amid virus lockdown

OilNOW -
(Reuters) - The coronavirus pandemic has disrupted maintenance at oil and gas projects and refineries from Russia’s Far East to the coast of Canada, storing up problems for an industry already reeling from slumping prices, analysts say. Below is a...
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Promises for oil & gas unveiled as Guyana’s landmark elections now just days away  

Oil is a major discussion point ahead of Guyana’s September 1 general election. The ruling People’s Progressive Party/Civic (PPP/C)...

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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