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Oil fields above $60 break-even will be priced out – Stabroek remains viable

OilNOW -
Energy projects that need oil prices above $60 per barrel in order to break even risk being uncommercial going forward, according to Rystad Energy. However, massive investments in exploration and sanctioning are still needed to meet growing global demand. As...
News

Operationalisation of wealth fund vital when oil production begins – Global Data Analyst

OilNOW -
The need for Guyana’s Natural Resources Fund (NRF) to be operational when revenues begin flowing to the country from oil production is being emphasized by an analyst at Global Data who says this ensures transparency and guarantees the correct...
News

Tullow executives quit as production falls below expectations

OilNOW -
UK-based Tullow Oil said on Monday Paul McDade, Chief Executive Officer, and Angus McCoss, Exploration Director, have resigned from the Board by mutual agreement and with immediate effect. This comes as the company reported that while its financial performance...
News

Guyana discoveries among largest for 2019

OilNOW -
Major offshore discoveries this year include countries as diverse as Russia, Cyprus, South Africa, Malaysia and Guyana. The majority of major discoveries so far this year have been in the offshore sector with over half being deep-water finds, VesselsValue,...
Opinions

Where is Guyana seeing the benefits of oil production?

Bobby Gossai, Jr. -
By Bobby Gossai Jr. Bobby Gossai, Jr. recently completed his MSc (Econ) in Petroleum, Energy Economics and Finance from the University of Aberdeen. Mr. Gossai, Jr.’s professional experiences include being the head of the Guyana Oil and Gas Association and...
News

Oil companies swap stakes in Mexico as government holds off on auctions

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(Reuters) - With Mexico’s government insisting that energy companies increase oil and gas output before it auctions off more of the country’s vast reserves or offers more partnerships with state-run Pemex, firms ranging from foreign majors to local players...
News

Brazil, Guyana stand out with huge ongoing investments in oil developments – WoodMac

OilNOW -
South American neighbours Brazil and Guyana are experiencing unprecedented investments in oil developments that will see production from these countries ballooning in coming years to more than 2.5 million b/d by 2025. Industry analyst Wood Mackenzie says the global deepwater...
News

Apache’s stock plunges to 18-year low on Suriname well disappointment

OilNOW -
Shares of Apache Corp. plunged on Monday, closing at the lowest price seen in 18 years, after the oil and natural gas producer provided a disappointing update of its first exploratory well in Block 58 offshore Suriname. MarketWatch said on...
News

Noble Don Taylor sails into Stabroek Block

OilNOW -
The drillship Noble Don Taylor has arrived offshore Guyana to begin a one-year contract for drill campaigns at the Stabroek Block, operated by US oil major ExxonMobil, with co-venturers Hess and China’s CNOOC. The Noble Don Taylor brings the total number...
News

Guyana prospects take centre stage at London Oil Talk

OilNOW -
The CASS Business School of the City of London in collaboration with the High Commission of Guyana and the London Business School's Energy Club held a well-attended discussion on Guyana’s oil discovery and its green future on Monday November...
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Ali names 25-member cabinet; Vickram Bharrat back at oil ministry

President Irfaan Ali of Guyana unveiled 25 ministerial Cabinet appointees on Saturday evening, as the government embarks on its...

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