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India’s pandemic crisis won’t kill long-term oil demand, Liza Crude still on country’s radar

OilNOW -
India has witnessed more than 300,000 new coronavirus cases per day for nearly two weeks in what is a growing humanitarian crisis that could see the outlook for oil consumption worsening in the short term, before rebounding later this...
News

Brazil’s Petrobras inviting bids for one of the largest FPSOs in the world

OilNOW -
Petrobras said on Friday that it started the bidding process for the acquisition of a new FPSO for the Búzios field, in the Santos Basin pre-salt. Named P-80, the platform will be the ninth unit to operate in the field,...
News

Ali wants oil revenue to help close gap between haves and have nots, will he succeed?

OilNOW -
Since gaining its independence from the British in 1966, Guyana has struggled to embark on a path of sustained economic growth that served to elevate living standards for its people, despite being endowed with significant natural resources, even before...
News

All systems being put in place for hook-up of world’s first Fast4Ward® FPSO

OilNOW -
All systems are being put in place for Guyana’s second oil production vessel which will depart Singapore in June for the South American nation. The Liza Unity floating production storage and offloading (FPSO) unit will have double the capacity...
News

Low Indian demand offsets oil’s recovery

OilNOW -
(Bloomberg) Oil prices dipped as traders weighed weaker fuel demand in India against optimism over the global economic recovery from the coronavirus pandemic. Brent crude fell 0.6% to about $66.50 a barrel in Asian trading. Sales of gasoline in India were the...
News

Wales to be like Point Lisas but a little bit more eco-friendly – VP Jagdeo

OilNOW -
The Guyana government’s highly anticipated US$900M gas project is expected to pave the way for a massive industrial park to be housed at Wales. According to Vice President, Dr. Bharrat Jagdeo, the Wales development will have similar characteristics to...
Exploration

Projects set to push Guyana’s production over 500,000 bpd by 2024 on schedule

OilNOW -
Preparations for the 220,000 barrels per day (bpd) Liza Phase 2 and Payara developments offshore Guyana are moving ahead on schedule and will soon add to the 120,000 bpd Liza Phase 1 project, effectively pushing Guyana’s output at peak...
Opinions

Oil and Gas Imperatives: Direct Foreign Investment, Local Content Policy and Governmental Transparency

OilNOW -
By Wilberne Persaud - OilNOW Growing up in British Guiana, I marveled at Dutch engineering genius. They created the seawall, amazing below-sea-level coastal water and drainage systems. Georgetown was scenic and serene, at the time considered the Caribbean’s Garden City....
News

Exxon expects ‘continued and steady progress’ in Guyana’s multi-billion-barrel basin

OilNOW -
As the global oil and gas industry continues to recover from the impact of the pandemic, ExxonMobil has reported that its production volumes are rising from 2020 levels, and for the first quarter of this year, output at the...
News

EPA organizing public hearing into appeals over oil and gas waste treatment facility

OilNOW -
The Environmental Protection Agency (EPA) in Guyana says the Environmental Assessment Board (EAB) will be conducting a public hearing on Monday, May 10, at the Soesdyke/Huist’ Coverden Neighbourhood Democratic Council into appeals submitted against the development of an oil and...
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Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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