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Pandemic brings new oil reality; some governments will offer better terms – Wood Mackenzie

OilNOW -
Governments, particularly those in economies dependent on the oil industry are looking to do their part by ensuring exploration and production activities remain economically feasible in an era where fiscal stress continues to be high, brought on by the...
News

As OPEC looks to curb production Guyana’s output on course to swell in coming years

OilNOW -
By the time oil production in Guyana hits 340,000 barrels per day at the end of 2022, the Organization of the Petroleum Exporting Countries (OPEC) will be reassessing member states’ output after a new accord to cut production by...
News

Guyana must develop its multi-billion-barrel oil resources in narrow 20-year window

OilNOW -
New oil producer Guyana, with just one field under development so far and two additional projects approved, may have around 20 years remaining to bring to market the several billion barrels of oil equivalent resources found offshore to date....
News

Former Guyana Presidential Advisor on oil told to retract ‘false and defamatory’ claims or face lawsuit

OilNOW -
Lawyers representing Guyana’s former Minister of Natural Resources and the Environment, Robert Persaud, have issued a letter to former Presidential Advisor on Petroleum, Dr. Jan Mangal, requesting that he immediately retracts ‘false and defamatory’ statements on the award of...
News

Over eight months in – Guyana producing oil ahead of its time – Francis Kiernan

OilNOW -
US oil major ExxonMobil announced its first world class discovery in May 2015 at the Liza field offshore Guyana. The well encountered more than 295 feet (90 meters) of high-quality oil-bearing sandstone reservoirs and was safely drilled to 17,825...
News

Consultant for Payara review expected within days – Natural Resources Minister

OilNOW -
The independent consultant being engaged by the Government of Guyana to review the work that has been done so far by the Department of Energy for the 220,000 barrels per day Payara Development Project is expected to arrive in...
News

Payara for further review ahead of decision on approval

OilNOW -
Government approval for Payara, ExxonMobil’s third development project offshore Guyana, remains on hold as the new administration seeks external assistance to further review the work that has been done so far in assessing the project. “Specifically to the Payara licence,...
News

September time-frame for Payara approval “very important” – Neil Chapman

OilNOW -
Guyana Government approval of the 220,000 barrels per day Payara Development Project by September is being viewed as “very important” if ExxonMobil is to capitalize on a crucial window of opportunity to get the project going without further delays. The project was...
Exploration

Heavy oil at Orinduik similar to North Sea, Gulf of Mexico commercial crude

OilNOW -
The heavy oil discovered in 2019 at the Orinduik block offshore Guyana is similar in quality to crude being produced and commercialized in several parts of the world, including the US Gulf of Mexico, North Sea and Brazil’s Campos...
News

Tullow Oil appoints Rahul Dhir as CEO

OilNOW -
Tullow Oil plc on Tuesday announced the appointment of Rahul Dhir as Chief Executive Officer and an Executive Director of the Group. Dhir will take up his appointment from July 1, 2020 and Dorothy Thompson, currently Executive Chair of...
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Kamla Persad-Bissessar returns as TT PM in historic win

Voters in Trinidad and Tobago have removed the ruling People’s National Movement (PNM) from power. Electing the United National...

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