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Exploration

UK oil company strikes exploration deal in Jamaica

OilNOW -
UK-based United Oil & Gas PLC said on Monday it has received approval from the Jamaican Government to take forward the Walton Morant Licence, Jamaica, on a 100% operated basis. United has been assigned Tullow Jamaica Ltd's 80% equity in the Walton Morant...
News

Apache’s Block 58 offers most promise for Suriname resource – Morgan Stanley

OilNOW -
US multinational investment bank and financial services company Morgan Stanley says despite a wave of lease awards beginning in 2010, no commercial oil resource had been discovered in offshore Suriname prior to Maka Central-1, Apache's first exploration well on...
Exploration

Stena Carron to spud Tanager-1 at Kaieteur block

OilNOW -
The Stena Carron drill ship is set to spud the first well on the 3.3 million acres Kaieteur block as operator, ExxonMobil, expands its search for hydrocarbons offshore the South American country of Guyana. The Kaieteur block is located...
News

New ExxonMobil Guyana President looking to build on company’s success

OilNOW -
Alistair Routledge, the new President of ExxonMobil Guyana says he is looking to build on the accomplishments the company has made over the past several years, as he takes up the top leadership role. That success includes 16 oil discoveries,...
Exploration

Opposition party appears to have won, incumbent yet to concede but O&G activities will progress – Fitch Solutions

OilNOW -
Political uncertainty in Guyana will have a limited impact on the ongoing oil and gas development projects in the South American country although the oil price rout and fall in global oil and gas investments could delay exploration and...
News

Eni to sell assets in Norway, Congo

OilNOW -
(Bloomberg) --Eni SpA is looking to sell assets in Norway and the Republic of Congo as oil’s slump prompts companies across the industry to rein in spending, according to people with knowledge of the matter. In Norway, Eni’s majority-owned Var...
News

South America’s newest oil producer drops over 50 million barrels of crude

OilNOW -
A ‘detrimental limbo’ of political uncertainty is becoming increasingly costly to new oil producer on the South American continent, Guyana, where project approval delays for a half-billion barrel offshore development has already resulted in more than 50 million barrels...
Opinions

Guyana facing ‘series of shock and multiplier effects’ triggered by political crisis – Economist

Bobby Gossai, Jr. -
By Bobby Gossai, Jr. - Economist The expected high growth rate of the Guyanese economy will be reduced by several factors outside of the limits of the coronavirus. Guyana had an expected exponential growth from 2020 to 2028 which would...
News

Chevron set to buy out Noble Energy for $5 billion in shares

OilNOW -
Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Noble Energy, Inc. (NASDAQ: NBL) to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or...
News

Getting ‘advantaged barrels’ out of the ground early means bigger returns for companies, host countries

OilNOW -
The demand for petroleum is expected to remain robust in coming years but trends that point to an accelerated shift to renewables mean developing oil and gas resources sooner rather than later will ensure the most favourable returns for...
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Energy Chamber Head urges Guyanese youths to embrace long-term opportunities in oil sector 

President of the Guyana Oil and Gas Energy Chamber (GOGEC), Manniram Prashad, has called on Guyanese youth to embrace...

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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