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Guyana did not pay a ‘fee’ to lift its first 1 million barrels of oil; cargo sold directly to shell

OilNOW -
The first one million barrels of profit oil allotted to Guyana was sold directly to Shell Western Supply and Trading Limited and as such did not attract a ‘lifting fee’. Responding to queries from OilNOW on the cost associated with...
News

Price stability will have greatest impact on Guyana oil revenue – Robert McNally

OilNOW -
The revenue Guyana receives from development of its multi-billion barrel oil resources offshore will be ultimately determined by price stability in the oil market which an expert in the industry says is largely dependent on there being a swing...
News

Just how good is Guyana’s crude oil?

OilNOW -
Following ExxonMobil’s commercial discovery at the giant Liza field in the Stabroek Block offshore Guyana in 2015, it was confirmed that the oil found is of ‘high quality’. The term “High Quality” is commonly used to refer to crude...
News

Over GY$45B expended on local suppliers since 2015 in S/America’s newest oil producing nation

OilNOW -
Since the world class Liza discovery in 2015, ExxonMobil has expended more than GY$45 billion on local suppliers in the South American country of Guyana. The company said Wednesday in an activity update that more than 700 Guyanese vendors...
News

Guyana produced 427,282 barrels of oil from December 20-31

OilNOW -
Guyana’s Ministry of Finance in a report on February 17 stated that petroleum production for December 2019 amounted to 427,282 barrels or 35,607 barrels per day and that there were no operational losses for the period. The Report on Petroleum...
News

Global Witness ‘anti-oil agenda’ could cost Guyana billions in revenue– AMI Political Analyst

OilNOW -
A senior political analyst attached to Americas Market Intelligence (AMI) says the recently released Global Witness report on Guyana is the NGO’s attempt at spreading its anti-oil ideology and urged Guyanese to do their own fact-checking and come to...
News

Oil rally runs into turbulence after jump in coronavirus cases

OilNOW -
(Bloomberg) A nascent rebound in oil prices ran into turbulence after China’s Hubei province reported almost 15,000 new coronavirus cases as it changed its method for counting infections. The government of the province at the heart of the outbreak said...
News

Law firms contracted to boost legal framework governing O&G in Guyana

OilNOW -
US law firm Hunton Andrews Kurth LLP and Guyanese Cameron and Shepherd, the oldest law firm in the South American country, have been awarded a contract by the Department of Energy to boost the legal framework for the oil...
News

Transparency body to receive first trades in oil data from Guyana’s Dept of Energy

OilNOW -
The Guyana Extractive Industries Transparency Initiative (GYEITI) will soon be receiving information regarding Guyana’s first trades in oil now that the country has commenced production. The local EITI chapter, headed by Dr Rudy Jadoopat, held a meeting with the Department...
Exploration

Bahamas gunning for oil as Guyana success excites region

OilNOW -
Bahamas Petroleum Company (BPC) said Thursday it will be drilling an exploration well in April with results expected in the second quarter of the year. The well - Perseverance #1 – is located on the northern segment of the...
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Cutting-edge technologies giving exploration a sustainable future – Insights from SLB 

Andrea Lovatini, Director of Exploration Data and Geosolutions at SLB and Chairman of the EnerGeo Alliance Board, argues that...

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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