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

OilNOW -
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

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(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

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(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...
News

Guyana barrels add to CNOOCs’ reserves and production – record high volumes logged in 2020

OilNOW -
CNOOC Limited announced on Thursday its 2020 annual results for the year ended December 31, 2020. The company said last year it strengthened confidence, focused on its own development, proactively responded to the sharp drop in international oil prices...
News

Noble, Pacific Drilling enter merger, deepwater drilling capabilities to be enhanced

OilNOW -
Noble Corporation and Pacific Drilling Company LLC announced Thursday that they have entered into a definitive merger agreement under which Noble will acquire Pacific Drilling in an all-stock transaction.  The definitive merger agreement was unanimously approved by each company's...
Exploration

Guyana wells have high recovery rates, can be drilled faster than any other deepwater basin in the world

OilNOW -
The Guyana basin continues to shine with a range of world class attributes such as low breakeven prices, high quality crude and wells that are relatively shallow, which one co-venturer in the prolific Stabroek block says can be drilled...
News

U.S. crude flows to India surpasses Saudi, UAE volumes in February

OilNOW -
In February, crude flows from the United States to India totaled 2.11 million mt, about 31% higher than the 1.61 million mt from Saudi Arabia, putting the US as the No. 2 importer during the month, trailing only top importer Iraq,...
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Guyana’s first major oil & gas training college to welcome full cohort next month

The long-awaited Guyana Technical Training College Inc. (GTTCI) is set to welcome its first cohort of students to be...

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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