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Around 3 Suezmax-sized cargoes load in Guyana each month for multiple destinations

OilNOW -
There are approximately three Suezmax-sized cargoes that load in Guyana each month, a pattern seen since October 2020, according to cFlow, an S&P Global Platts trade-flow software. These cargos are lifted for ExxonMobil, operator at the Stabroek block, co-venturers...
News

Suez Canal blockage affecting passage of 13 million barrels of crude

OilNOW -
Energy intelligence firm Vortexa has so far identified ten tankers carrying around 13mn bbl of Middle East crude that could be affected by the blockage of the Suez Canal - caused by a container ship accident in the narrow...
News

Guyana’s 5th oil cargo was sold to Hess, no decision yet on exports to India

OilNOW -
The Government of Guyana sold its 5th oil cargo to Hess in February which saw the country being paid the highest sum to date for its exports, on par with the market price for crude at the time. The...
News

Equinor makes biggest oil discovery for the year on Norway’s continental shelf

OilNOW -
Equinor and partners Vår Energi, Idemitsu Petroleum and Neptune Energy have made the biggest discovery so far this year on the Norwegian continental shelf (NCS). Preliminary estimates place the size of the discovery between 12 and 19 million standard...
News

Mexico investments in jeopardy as Guyana, Brazil and others push hard to develop oil resources

OilNOW -
Political instability has always been the Achilles' heel of Latin America. Investments in the region have often been jeopardized by governments who make changes to what came before. The energy sector has been particularly affected, as it has been...
Exploration

Around 2500 offshore wells set to be drilled in major deepwater comeback, Guyana at forefront

OilNOW -
Oil and gas exploration activities remain resilient even after a devastating year that saw investments declining by more than 30%, widespread shut-ins, and well over 100 bankruptcy filings. But after the gloom of 2020 oil and gas demand recovery...
News

Team working towards start-up of Liza Destiny FPSO gas compressor

OilNOW -
Reinstallation of components of the flash gas compression system is progressing offshore Guyana on the Liza Destiny FPSO. ExxonMobil Guyana, operator at the Stabroek block, said in an update on Tuesday that critical equipment alignments, lifting of the suction silencer...
News

Oil jumps by 1% as ship runs aground in Suez Canal

OilNOW -
(Reuters) - Oil rose more than 1% on Wednesday after a ship ran aground in the Suez Canal raising supply concerns, although fears of a slow recovery in demand due to European lockdowns limited gains. Ships in the Suez Canal...
News

Venezuela oil worker on house arrest after criticizing Maduro

OilNOW -
(Reuters) - Venezuelan authorities granted house arrest to a worker at state oil company Petroleos de Venezuela who was detained nearly a year ago after criticizing President Nicolas Maduro in a meeting with company leadership, the worker’s family said...
News

Executives from Exxon, other major U.S oil companies pledge support for Biden’s climate campaign

OilNOW -
(Bloomberg) Chief executives of some of the largest U.S. oil companies promised to collaborate with the Biden administration in its campaign against climate change during a meeting Monday with White House National Climate Adviser Gina McCarthy. The oil industry leaders...
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NewsOilNOW -

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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