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Credit agencies should reward oil majors for natural gas developments

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By Arthur Deakin - OilNOW On January 26, one of the most influential credit rating agencies in the world, Standard & Poor’s (S&P), said it was considering downgrading the rating of 13 major oil and gas producers, including ExxonMobil, Shell...
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Bahamas well fails to deliver commercial crude

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The Perseverance #1 well in The Bahamas did not encounter hydrocarbons in commercial quantities, Bahamas Petroleum Company (BPC) announced on Monday. The well reached a depth of approximately 3,900 meters without incident and will now be permanently plugged and...
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Africa, Americas lighting up deepwater exploration this year

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Drilling of high-impact oil and gas prospects in 2020 suffered at the hands of the global pandemic, but the overall results were nevertheless positive, a Rystad Energy analysis reveals. The success rate rose to 41% from 32% in 2019...
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Staatsolie boss wants Guyana, Suriname to build world-class shore base as oil discoveries grow

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Both Guyana and Suriname are without adequate shore base facilities to support the growing needs of oil companies that continue to ramp up exploration and production activities offshore the two countries. But this state of affairs could change quite...
Opinions

Rig count in Guyana-Suriname basin has doubled in 2 years

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By Hans Jacob Bassoe Bassoe Offshore In the span of just five years, ExxonMobil has had 18 successful discoveries in the Guyanese Stabroek Block alone and proven recoverable resources of more than 9 bboe.  And the operator does not plan on slowing...
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Argentina’s ‘dead cow’ producing tight oil at record levels, matching US well scores

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The oil production decline that the coronavirus pandemic brought to Argentina’s Vaca Muerta formation now seems like a distant memory, Norway based Rystad Energy said on Wednesday. The reserve’s oil output has not only rebounded to pre-pandemic levels but...
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Venezuela releases Guyanese fishing vessels, crew

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Venezuelan authorities have released the two Guyanese fishing vessels and 12 crew members that were detained almost two weeks ago by its navy. Guyana has maintained that the vessels were operating well within its waters at the time of...
News

Venezuela bumps up January oil production by 100,000 b/d to surpass half-million b/d mark

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Average crude output by Venezuela's state-owned PDVSA and its foreign partners in January rose to 520,000 b/d, or 100,000 b/d more than December, according to daily production reports reviewed by S&P Global Platts. Also, the preliminary average of Venezuelan crude...
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Brazil sweetening pot for oil investors to offset competition from Guyana, Suriname

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Brazil is facing intense competition for oil investments from countries around the globe, including neighbors Guyana, Suriname and Uruguay, and policy makers in Latin America’s biggest economy are now hammering out a new regulatory and production-sharing framework to make...
News

Petrobras makes new discovery in Brazil’s pre-salt

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Petrobras said on Friday it has identified the presence of hydrocarbon in a pioneer well in the CM-411 block, located in the Campos Basin pre-salt, in the State of Rio de Janeiro. Well 1-BRSA-1377-RJS, informally called Urissanê, is located approximately...
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‘Lil Red Community Centre’ commissioned through partnership with Food for the Poor Inc. and SBM Offshore Guyana

Residents of Little Red Village on Guyana’s Essequibo Coast now have access to a new community hub following the...

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