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Coming oil price bounce, supply shortfall opening space for Guyana barrels

OilNOW -
More space is being created on the oil market for Guyana’s medium sweet Liza Crude as prices are expected to rise amid a coming shortfall in supply. According to the findings of a Reuters Poll published on Friday, oil prices will stage a...
News

New York Stock Exchange begins delisting CNOOC

OilNOW -
The New York Stock Exchange on Friday decided to begin formal delisting of Chinese state oil giant CNOOC Ltd based on an executive order signed by former U.S. President Donald Trump in November last year, Reuters said in a...
News

CDC hosts major oil spill response workshop ahead of exercise to test Guyana’s capabilities

OilNOW -
Guyana’s Civil Defence Commission (CDC) is partnering with US State agencies, Pacific Disaster Center, ExxonMobil, and the French and Canadian Armed Forces to build the South American country’s National Oil Spill Capabilities. The Commission on Thursday collaborated with regional and international...
News

In historic move, Exxon takes Canadian oil sands off its books

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(Bloomberg) --Exxon Mobil erased almost every drop of oil-sands crude from its books in a sweeping revision of worldwide reserves to depths never before seen in the company’s modern history. Exxon counted the equivalent of 15.2 billion barrels of reserves...
News

Reassembly of gas compressor completed, testing to begin – ExxonMobil

OilNOW -
ExxonMobil Guyana said this week that all rework and reassembly of the flash gas compressor that encountered challenges in January have been completed and the machine is now being prepared for testing at the MAN Energy Solutions workshop in...
News

Exxon sees unprecedented progress in local content development in Guyana – Routledge

OilNOW -
President of ExxonMobil Guyana, Alistair Routledge said this week he has seen unprecedented levels of progress in local content development and stressed the importance of education and training for Guyanese, in order for them to benefit from the opportunities...
News

Foreign investors crucial to Guyana’s development, says government officials

OilNOW -
Chief Executive Officer of the Guyana Office for Investment (GO-Invest), Dr. Peter Ramsaroop, days ago reiterated the importance of foreign direct investment to Guyana’s development and shared how government is working to connect foreign companies with local businesses, in...
News

Tullow Oil reaches over US$1 billion reserve-based loan agreement with banks

OilNOW -
U.K. based multinational oil and gas exploration company Tullow Oil said on Friday it has been able to finalise a more than US$1 billion reserve-based loan agreement with banks. The company has been reviewing its business plan and operating...
News

Aframax freight rates jump to nine-month highs

OilNOW -
(S&P Global Platts) The extreme cold temperatures that hit Texas the week started Feb. 14 caused port closures that locked up tonnage and provided a silver lining for shipowners, already struggling with rates beneath the w100 psychological mark since...
Exploration

Fifty-seven days later: Bulletwood-1 drill campaign wrapping up

OilNOW -
The Stena Carron drillship is wrapping up operations at the Bulletwood-1 prospect offshore Guyana on the Canje Block where the well was spudded approximately 57 days ago. The Maritime Administration Department said in a notice on Wednesday that the Stena...
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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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