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Equinor in double oil strike offshore Newfoundland

OilNOW -
Equinor (60%), and its partner BP Canada (40%), have made two oil discoveries offshore Newfoundland, Canada. The two wells at the Cappahayden and Cambriol prospects, drilled this summer in the Flemish Pass Basin, have proven the presence of hydrocarbons; however, it is too early to provide specific...
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Suriname expects to earn up to $60 billion from offshore discoveries – Rudolf Elias

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Suriname expects to potentially earn up to $60 billion from development of hydrocarbon resources at the three discoveries made to date offshore the South American country. Rudolf Elias, CEO of Suriname’s National Oil Company, Staatsolie Maatschappij Suriname NV, during a...
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Venezuela crude inventories mount as exports drop ahead of sanctions deadline

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(Reuters) Crude inventories at Venezuela’s main oil export terminal, Jose, have hit their highest levels since August as customers shy away from state oil company Petroleos de Venezuela due to U.S. sanctions, a document seen by Reuters on Monday...
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BP drops operatorship of sensitive exploration block offshore Brazil

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(S&P Global Platts) BP has handed over operatorship of an environmentally sensitive exploration block offshore Brazil in the Amazon Delta to state-run oil company Petrobras, BP confirmed Oct 26. Petrobras will take over the operation of the FZA-M-59 block in...
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T&T Energy Chamber and Staatsolie sign MoU to build HSE capacity in Suriname

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The Energy Chamber of Trinidad & Tobago (ECTT) and Suriname state oil company Staatsolie Maatschappij Suriname N.V. (Staatsolie) have signed a Memorandum of Understanding (MoU) to collaborate on building health, safety and environmental (HSE) capacity in the Surinamese oil...
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Venezuela says it has produced drug capable of eliminating COVID-19

OilNOW -
(teleSUR) Venezuela’s President Nicolas Maduro Sunday announced the discovery of a high-effective treatment capable of eliminating COVID-19 and pointed out that a drug will be presented to the World Health Organization (WHO) for certification. The treatment, based on a molecule called TR-10, was designed...
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Brazil soars to China’s No. 3 crude oil supplier in September

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(Reuters) - Brazil jumped to China’s third-biggest crude oil supplier in September, import data showed on Sunday, as China’s independent refiners scooped up cheap supplies of the South American exporter’s relatively high-quality oil. Imports from Brazil hit 4.49 million tonnes,...
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Several attempts made since 2019 to offload cargo from Venezuelan tanker threatening to spill crude

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The Venezuelan ship - FSO Nabarima - with more than 1 million barrels of crude has been immobilized and anchored in the Gulf of Paria in northeastern Venezuela since January 2019. State-owned oil company PDVSA has not been able to...
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North American oil and gas bankruptcy debt to blow past US$100 billion

OilNOW -
The impact of the coronavirus pandemic continues to take its toll on the global oil and gas industry with North America being particularly hard it. Mounting bankruptcies will see associated debt running into billions of dollars surpassing the previous...
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Maersk spuds Suriname well, starts operations in T&T on same day

OilNOW -
The semi-submersible rig Maersk Developer earlier this month spudded the Sloanea-1 well in Suriname on the same day the Mærsk Discoverer began operations at the Matapal development in Trinidad and Tobago (T&T). “Earlier this month, Maersk Developer spudded the Sloanea1...
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Latest News

Guyana's Oil LedgerKemol King -

Guyana earned US$2.57 billion from oil in 2024

Guyana received US$2.57 billion (GY$536 billion) in oil revenue in 2024, based on monthly and quarterly reports of the...

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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