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Future participation in oil blocks should be done via State Holding Company – IMF tells Guyana

OilNOW -
While some arguments have been put forward in favour of Guyana establishing a National Oil Company so that it may have a participating interest in its oil blocks, the International Monetary Fund (IMF), one of the key agencies assisting...
Exploration

Explorers forging ahead in one corner of South America deepwater

OilNOW -
Oil majors and National Oil Companies have been left with no choice but to re-assess exploration spend in 2020 as the price of oil plummeted forcing shut-ins and lay-offs across the industry where conventional exploration spend had been set...
News

SBM Offshore in search of technicians, engineer for Guyana operations

OilNOW -
SBM Offshore is looking to fill several more positions for its activities in Guyana where it operates the Liza Destiny Floating Production Storage and Offloading (FPSO) oil production complex at the Stabroek Block. The company said in a new advertisement...
News

Exxon targeting ‘industry-advantaged projects’ in face of volatility, uncertainty

OilNOW -
US oil major ExxonMobil said on Wednesday it is managing unprecedented market challenges from the COVID-19 pandemic while preserving long-term value to shareholders. Chairman and Chief Executive Officer Darren Woods told shareholders during the company’s annual meeting that despite the...
News

‘Advantaged deepwater oil’ in places like Guyana will progress – WoodMac

OilNOW -
The oil price crash has hit the upstream sector hard with deep cuts being made across the board and will have a dramatic impact on the industry’s project pipeline with almost all pre-Final Investment Decision projects being deferred says...
News

Growing ‘Armada of vessels’ offshore Guyana will require large shorebase support

OilNOW -
The growing activity offshore the South American country of Guyana is likely to hit peak in the latter part of this decade and will require large shorebase support services which is something the new oil producing nation will have...
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...
News

Early project approvals will shield Guyana from further reductions in oil revenues – AMI experts

OilNOW -
The COVID-19 pandemic and decline in oil prices are causing major economic disruptions to crude producers around the world forcing them to adjust their projected revenue inflows downward as lockdown measures continue to curtail demand. Americas Market Intelligence (AMI) experts...
Exploration

Guyana in ‘Golden Triangle’ of mega oil reserves

OilNOW -
Guyana falls within the Golden Triangle of mega oil reserves along with countries such as Brazil, Venezuela and Nigeria, and producers in the US Gulf of Mexico. Deepwater drilling used to be prohibitively expensive, but high oil prices in 2007...
Exploration

Deepwater action remains in play offshore Guyana

OilNOW -
Guyana topped the oil discovery charts again in 2019 with the Liza field coming onstream in December and another billion barrels added in the ExxonMobil operated Stabroek licence with some more gas also. The resource estimate for Stabroek was again...
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SBM Offshore Guyana throws support behind Mental Health Awareness Campaign

SBM Offshore Guyana has thrown its support behind a new national mental health campaign launched by the Office of...

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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