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Oil summit focusing on South America’s new frontier set for June

OilNOW -
The 3rd Annual Guyana International Petroleum Business Summit and Exhibition (GIPEX), will be returning this year, from June 28-30 via a virtual platform hosted jointly by Valiant Business Media (VBM) and the Ministry of Natural Resources (MNR) with support...
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Guyanese investor building multi-million-dollar oil & gas storage facility close to major shore base

OilNOW -
A Guyanese businessman is looking to transform a section of an abandoned cane field into a multi-million-dollar infrastructure targeting the needs of the oil and gas industry. W1 Houston Inc. is working towards the establishment of a storage facility...
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Guyana world class deep water projects contributing to SBM Offshore growth

OilNOW -
The four Floating Production Storage and Offloading (FPSO) vessels currently being built by SBM Offshore are positively contributing to the company’s growth phase. Two of the FPSOs are being constructed for operations offshore Guyana at the ExxonMobil-operated Stabroek Block. On...
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Venezuela will need almost $60 billion to return oil industry to its heyday

OilNOW -
Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels of 1998 before ex-President Hugo Chavez came to power, equivalent to 3.4 million barrels per day (bpd), a document seen...
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Chevron shuts in Tamar gas platform offshore Israel as violence escalates

OilNOW -
(S&P Global Platts) US major Chevron has shut in the Tamar gas platform offshore Israel amid an escalation of violence in the country, a company spokeswoman said May 12. Violence has escalated in recent days, with rockets fired at Israeli...
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Giant Yellowtail FPSO will produce up to 7.5 million barrels of oil per month during early stage of operations

OilNOW -
The offshore developments in Guyana are growing both in number and capacity, with the fourth proposed project at Yellowtail being designed to utilize a giant floating production storage and offloading (FPSO) vessel capable of holding 2 million barrels of...
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Fabrication of topsides for Guyana’s 3rd oil production vessel underway in Singapore

OilNOW -
Work on Guyana’s 3rd oil production vessel is progressing on schedule in Singapore, SBM Offshore said in its Q1 trading update on Wednesday. The Dutch floater specialist has been forging ahead with major construction projects despite challenges from the...
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Proposed, sanctioned offshore developments to deliver over 800,000 bpd by 2025

OilNOW -
Guyana has gone from having no known oil resources just 6 years ago to now holding over 9 billion barrels of oil equivalent. The small South American country is now well on its way to becoming one of Latin...
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Mærsk Developer to drill additional appraisal well for Total in Suriname

OilNOW -
Total E&P Suriname, Suriname Branch has exercised an option to add the drilling of one additional appraisal well in Suriname’s Block 58 to the work scope of the semi-submersible rig Mærsk Developer. Mærsk Drilling said Wednesday the contract extension has...
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Oil climbs on solid demand outlook

OilNOW -
(Reuters) Oil prices rose on Wednesday after a drop in U.S. crude inventories reinforced OPEC's robust demand outlook, while the market awaited fresh updates on the Colonial Pipeline outage. U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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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