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Undemocratic leanings pushing Guyana’s risk profile up and harming oil potential

OilNOW -
On Wednesday, the United States of America announced that visa restrictions would be imposed on those individuals who, whether part of or connected to the government, indulged in continued efforts to stymie the conclusion of the 2020, General and...
News

Elections impasse puts millions of barrels and billions of dollars on the line for Guyana – Rystad Energy in new report

OilNOW -
Country could lose up to US$1.6 billion from delays in project approvals for Payara-Pacora development Up to 75 million barrels of oil on the line The prolonged delay in concluding the highly contested Guyana elections is becoming...
News

FPSO awards set to bounce back next year as Guyana’s Payara, other projects expected to take off

OilNOW -
Hit by the second industry downturn in five years, global awards for floating production, storage and offloading (FPSO) vessels will likely be limited to a single unit in 2020, Rystad Energy believes, as exploration and production firms slash budgets...
News

Post-election chaos could threaten long-awaited oil windfall in Guyana

OilNOW -
By David E. Lewis and Anthony T. Bryan - Caribbean News Global At the end of last year, the tiny South American nation of Guyana made headlines as the country predicted to register the world’s fastest economic growth rate in...
News

Apache gets discovery of the year award for Suriname’s Maka Central oil strike

OilNOW -
US independent Apache Corporation has scooped up the discovery of the year award for its Maka Central-1 oil strike off the coast of Suriname, announced on January 7. The award was made in conjunction with Wood Mackenzie’s industry-leading annual Exploration...
News

Saipem secures US$325 million contract for Búzios pre-salt field in Brazil

OilNOW -
Italian multinational oilfield services company Saipem said on Monday it has been awarded a contract by Petrobras for the installation of a rigid riser-based subsea system to serve the Búzios pre-salt project, in water depths from 1537 to 2190 meters, offshore...
News

Guyana oil potential remains strong, but country must avoid becoming another Venezuela

OilNOW -
Venezuela, the country with the largest proven oil reserves in the world, continues to experience a rapid decline in output, reaching just around 300,000 b/d at the start of July – the lowest in several decades. The United States Congressional...
Exploration

Liza Crude could be ‘oil of choice’ as refiners seek lighter, sweeter blend

OilNOW -
The relaxing of COVID-19 lockdown measures is resulting in more vehicles taking to the roads and this is driving up the demand for lighter, sweeter oil which refiners need to produce gasoline. With a sulfur level of 0.51% and...
News

Hundreds of Guyanese businesses accessing CLBD’s online training courses

OilNOW -
Hundreds of Guyanese businesses are benefitting from a wide range of online training courses being offered by the Centre for Local Business Development (CLBD) as COVID-19 restrictions continue to prevent indoor sessions from being conducted. Since its establishment in 2017,...
Exploration

High performance from Guyana as 2020 half-year discoveries hit lowest in 100 years

OilNOW -
Global discoveries of conventional resource volumes reached just 4.9 billion barrels of oil equivalent (boe) in the first half of 2020 with Guyana among just a few countries that recorded success during the period. Rystad Energy says this represents the...
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Staatsolie seals offshore deals with PETRONAS, Chevron for Suriname’s Blocks 9 and 10

Staatsolie Maatschappij Suriname N.V. signed Production Sharing Contracts (PSCs) for offshore Blocks 9 and 10 with PETRONAS Suriname E&P...

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