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Suez Canal disruption pushes crude 4% higher

OilNOW -
(S&P Global Platts) Crude oil futures settled 4% higher March 26, clawing back most of the prior session's losses as the market eyed an extended disruption in the Suez Canal and the likelihood OPEC would hold back supply amid...
News

Mexico president wants law that could suspend oil permits, analyst predicts ‘serious consequences’

OilNOW -
(Reuters) - Mexican President Andres Manuel Lopez Obrador sent a bill to Congress on Friday that could enable the government to suspend permits in the oil industry, as part of a drive to bolster state control of energy at...
News

Merger of drillers Noble, Pacific points to troubled state of oilfield service sector

OilNOW -
(S&P Global Platts) Noble Corp.'s acquisition of Pacific Drilling announced this week in a merger of drillers points to the troubled state of the oilfield service sector, even with more activity expected this year as the industry recovers from...
Exploration

ExxonMobil’s 6th drill ship arrives in Guyana

OilNOW -
The Noble Sam Croft has arrived offshore Guyana taking the total number of drill ships on contract with ExxonMobil operating in the South American country to six. The Sam Croft was recently released from drilling operations in neighbouring Suriname where...
News

Final Local Content Policy must ensure Guyanese are valid partners not mere “window dressing”- GCCI Senior VP

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Even though it regards the current revised draft Local Content Policy as a vast improvement over the previous version, the Georgetown Chamber of Commerce and Industry (GCCI), one of the key groups representing business in Guyana, still believes there...
Opinions

Critical variables in Guyana’s Workforce Development Equation

OilNOW -
By Terrence R. Blackman, Ph.D. - OilNOW The recent 2020 Guyana Labor Force Survey (GLFS) highlights major interest indicators in Guyana's labor force participation. In the first quarter of 2020, the total population aged fifteen (15) and above residing in...
News

Saipem presents case studies on decarbonization of its operations

OilNOW -
Italian multinational oilfield services company Saipem participated in The Economist’s Sustainability Week, an event organised by The Economist, with the presentation of 2 case studies. It marks the publication’s sixth annual event dedicated to the topic of sustainability that took place...
News

Oil product tanker rates soar on Suez Canal blockage

OilNOW -
(Reuters) Reeling from the blockage in the Suez Canal, shipping rates for oil product tankers have nearly doubled this week, and several vessels were diverted away from the vital waterway as a giant container ship remained wedged between both...
News

Oil futures rise as uncertainties mount over when blocked Suez Canal passage would be cleared

OilNOW -
(S&P Global Platts) Crude oil futures rose during mid-morning trade in Asia March 26, as the market braced for the possibility that the Suez Canal may remain blocked by the stuck Ever Given container ship for days, while anticipation over...
News

Major marine traffic jam in Suez Canal as 40 oil tankers, other vessels pile up

OilNOW -
The reopening of the Suez Canal is now likely to take several days, market watchers told S&P Global Platts on March 25, as almost 40 oil and LNG tankers have piled up to transit one of the world's most...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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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