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Pemex struggling to meet own goals as private companies hit production record

OilNOW -
(S&P Global Platts)  Crude production by private operators in Mexico reached a new record in June as state oil company Pemex struggles to stop the decline of its own output, official data shows. Independent exploration and production companies increased their...
Exploration

Winners of Suriname bid round to submit exploration work programme – Jagesar

OilNOW -
The companies that were successful in the recently concluded Suriname bid round are now to submit their exploration work programme the head of state oil company, Staatsolie Maatschappij Suriname N.V. told OilNOW. Chevron Exploration Suriname Limited and a consortium consisting of...
News

Venezuela: The rise and fall of a petrostate

OilNOW -
The Council on Foreign Relations Written by Amelia Cheatham and Rocio Cara Labrado Venezuela’s descent into economic and political chaos in recent years is a cautionary tale of the dangerous influence that resource wealth can have on developing countries. Venezuela, home to...
News

Guyana and Brazil oil wells have high flow rates, best recovery – WoodMac

OilNOW -
Future deepwater oil fields will enjoy twice the average estimated ultimate recovery (EUR) of fields already onstream and Guyana and Brazil are at the top of the list, according to consultancy group, Wood Mackenzie. In a new report, WoodMac said...
News

Two major projects in queue off South America’s hottest new basin

OilNOW -
For the last decade no other frontier in the world has delivered the mega discoveries being made in the Guyana-Suriname Basin and from all indications, this is only the beginning. Experts say the basin contains over 20 billion barrels...
News

Guyana, Trinidad to establish Working Group on energy, investment

OilNOW -
Guyana and its sister Caribbean country, Trinidad & Tobago are set to establish a Working Group on energy, investment, trade and cooperation through mechanisms such as the Framework Agreement on the Deepening of Bilateral Cooperation and the Memorandum of...
News

‘Even as we go green, monetising our hydrocarbon resources must be the priority’ – TT Energy Minister

OilNOW -
Even as Trinidad and Tobago pursues green initiatives such as a solar utility project and the first world scale green hydrogen project, representing its initial introduction into a green economy, the government is intent on ensuring the country’s hydrocarbon...
Exploration

TotalEnergies upbeat about expanding its position in emerging world class basin

OilNOW -
TotalEnergies and its partner Qatar Petroleum have been awarded Block 6 and Block 8 in the Suriname SHO Bid Round 2020/2021. TotalEnergies shall operate these blocks, situated in shallow water with depths between 30 meters and 50 meters, and...
News

Guyana, Suriname will eat up more deep water investments as majors double down

OilNOW -
Consultancy group Wood Mackenzie did a recent analysis on the relevance of future oil and gas exploration in a world where energy companies are being pressured to clean up their act and give way to the energy transition. Under...
News

Qatar Petroleum upbeat about increasing its presence in new South America hot spot

OilNOW -
Qatar Petroleum is increasing its presence in the Guyana-Suriname Basin where latest estimates put recoverable oil equivalent resources to well over 20 billion barrels, representing double what has been discovered so far across the new South American oil province. Suriname...
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Latest News

NewsShikema Dey -

Exxon’s sole Guyana discovery for 2024 holds 500 million boe, says Rystad Energy

ExxonMobil’s only discovery in the Stabroek Block in 2024 - Bluefin is estimated to hold some 500 million barrels...

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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