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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...
News

Liza Unity floater will push Guyana’s total oil production to 340,000 bpd by 2022

OilNOW -
Double the capacity of the Liza Destiny FPSO, the Liza Unity – the vessel that will begin producing oil at Guyana’s second offshore development - is SBM Offshore’s first generic Multi-Purpose Floater (MPF1) hull in its series of hulls...
News

IHS Markit: Guyana – the world’s newest oil producer

OilNOW -
In an environment of oil supply glut, a new player entered the scene. Guyana, a nation bordering Venezuela and Brazil - two countries with large oil reserves - has established itself as an oil producer as of December 20...
Opinions

Oil was sick even before coronavirus hit

OilNOW -
(Bloomberg Opinion) -- Oil succumbed to the coronavirus this week because its immune system was compromised already. Amid headlines about quarantined Chinese cities and dozens of potential cases showing up in the U.S., Brent crude closed on Friday at $60...
News

Forbes: first light crude from Guyana signals start of new oil-producing region

OilNOW -
(Forbes) As the tiny nation of Guyana sends off its first tanker full of crude, the world welcomes a newcomer to the ranks of high volume oil producers. With fresh discoveries this month off small nearby countries, this small stretch...
News

DE to collaborate with transparency body for disclosures on Guyana’s oil sales

OilNOW -
As the Guyana government prepares to sell its first oil lift from the Liza Phase 1 development in the prolific offshore Stabroek Block, the Department of Energy sees collaboration with the Guyana Extractive Industries Transparency Initiative (GYEITI) as integral...
News

Extreme cold in Western Canada disrupts oil production, refining

OilNOW -
(Reuters) - Canadian oil producers and refiners have cut processing rates this week as extreme cold weather grips Western Canada, traders familiar with the matter said on Friday. Cold weather has spread across western Canada this week. In Edmonton, the...
News

Three years after $1 billion Venezuela deal, U.S. oilfield firm shuts doors

OilNOW -
(Reuters) - An Oklahoma oilfield company that played a central role in Venezuela’s high-profile attempt to convince the world it could halt production declines at its dilapidated oilfields has shut its doors, according to three people familiar with the...
News

Chevron pulls oil workers from Iraq

OilNOW -
(CNN) Chevron has evacuated all of its American oil workers from Iraq following last week's US airstrike in Baghdad. The company said in a statement Monday that as a "precautionary measure" its expatriate employees and contractors have left the...
News

Oil hits $70 as Mideast crisis deepens fear of supply disruption

OilNOW -
(Bloomberg) Oil extended its dramatic surge above $70 a barrel as the fallout between the U.S. and Iran escalated after the assassination of one of the Islamic Republic’s most powerful generals. Futures jumped by another 3% on Monday as the...
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Latest News

NewsShikema Dey -

Irfaan Ali charts oil-fueled, sustainable future as Guyana’s ninth President

Flanked by First Lady Arya Ali and their son Zayd, Irfaan Ali was sworn in on Sunday as Guyana’s...

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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