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Robots could replace hundreds of thousands of oil and gas jobs, save billions in drilling costs by 2030 – Rystad Energy

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Even when the pandemic downturn is finally past us, operators will have to continue exploring new avenues for cost reductions to be better equipped to withstand future market declines. In a report that looked into the adoption of robotics...
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Maduro wants to pay for coronavirus vaccines with oil

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(Reuters) - Venezuelan President Nicolas Maduro on Sunday proposed paying for vaccines against the novel coronavirus with oil, though he provided few details about how such a scheme would work. The crisis-stricken OPEC nation’s crude exports have plummeted to their...
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Crude oil futures edge higher, Brent pushes past $65

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(S&P Global Platts) Crude oil futures edged higher during mid-morning trade in Asia March 30 as optimism over the OPEC+ coalition persisting with its supply cuts and expectations of increased downstream products demand supported the market, although a stronger...
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Boskalis refloats giant container ship, unblocks Suez Canal

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Boskalis announces the successful salvage operation of the grounded 20,000 TEU container vessel Ever Given in the Suez Canal. With a length of 400 meters and a width of nearly 60 meters this giant ship had been wedged in this...
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World’s ‘second worse gas flaring nation’ now looking to develop gas to boost electricity supply

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(S&P Global Platts) Iraq and French oil major Total agreed to jointly work on developing four associated gas and solar power projects, the country's oil ministry said March 29, as OPEC's second largest producer seeks to reduce dependence on...
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Cost of gas to power project will be ‘very small percentage’ of Stabroek Block ‘cost pool’ – Ramnarine

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The estimated US$600 million to US$800 million cost to run a gas pipeline from the Liza field to shore in Guyana will not make much of a difference to the overall economics of the Stabroek Block. So says former...
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Cash flow bonanza for upstream industry in 2021, Guyana remains advantaged

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The year 2021 has started out on a positive note for oil and gas companies – in fact, this might be the best year yet in terms of generating cash for the industry, Rystad Energy said in a report....
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Massive container ship partially refloated in Suez Canal

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(Aljazeera) Ever Given, the massive container ship blocking Egypt’s Suez Canal for nearly a week, has been partially refloated, the Suez Canal Authority (SCA) said, raising hopes the busy waterway will soon be reopened. Monday’s move comes a week after...
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Denmark-based shipping company expanding services in Guyana with 100% local workforce

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The massive discoveries of oil offshore Guyana continue to propel the economic prospects of the country, making it one of the top investment destinations in the hemisphere. This has seen companies all over the world flocking to the country’s...
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Former TT energy minister explains why Guyana is poised to become regional powerhouse and is ‘at the beginning of its gas story’

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Since oil production began in Trinidad and Tobago (T&T) in 1908 and the commercialization of natural gas, which started later, in the 1950s, the country’s economy has grown, making it one of the most prosperous in the CARICOM region. Today,...
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Tourism minister calls for cultural shift, stronger service standards to power Guyana’s next economic phase

Tourism, Industry, and Commerce Minister Susan Rodrigues has called for a national cultural transformation to align with Guyana’s rapid...

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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