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Maersk first low-emission rig showing promising results

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After successfully being converted to a hybrid, low-emission rig, Maersk Intrepid has entered operations as the first Maersk Drilling rig to feature this set of upgrades. Maersk Intrepid is currently working for Equinor on the Martin Linge field where...
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Hess earns leadership status in climate change report

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Hess Corporation has been recognized for climate change stewardship in CDP’s Climate Change Report 2020. CDP is an international non-profit organisation based in the United Kingdom, Germany and the United States of America that helps companies and cities disclose...
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Aramco may have to sell assets, borrow more to maintain Saudi dividend

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(Reuters) - Oil giant Aramco, whose dividend remains vital to helping Saudi Arabia contain a huge deficit, may have to sell assets, and borrow more to fulfil its fiscal role amid uncertainty in oil prices, market specialists said. While Saudi...
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Maximising local participation in oil and gas discussed at first meeting of Guyana’s Presidents

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Guyana’s President Dr. Irfaan Ali on Tuesday met with three of the South American country’s former Presidents for a wide-ranging discussion on matters of national, regional, and international importance, chief among them being how the nation can maximise benefits...
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Operators pulling back oil and gas investments in Africa as world economy falters

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(GlobalData) The coronavirus pandemic and weak global economic outlook coupled with fragile energy demand has resulted in a decline in oil and gas prices. The all-pervasive nature of these circumstances has also impacted the African midstream sector, forcing several...
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Fugro awarded contract for positioning services in Guyana-Suriname basin

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Dutch engineering company Fugro has received a contract award from PETRONAS Suriname E&P B.V. (PSEPBV), a subsidiary of PETRONAS, for the provision of positioning services for an exploration programme in Block 52, off the coast of the capital Paramaribo...
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OPEC’s President says oil cartel cannot rush output increases, energy demand still fragile

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(Bloomberg) -- The President of OPEC reiterated that the oil producers’ cartel shouldn’t rush to increase output early next year and said energy demand was still fragile with the coronavirus raging across parts of the world. Algeria’s Energy Minister Abdelmajid...
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Multi-billion-dollar deepwater investments only moving forward under favourable conditions

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Of the 200 offshore oil and gas projects that are currently in the planning stage, around 120 of these are based on floating production storage and offloading (FPSO) systems and one expert believes that none of them will move...
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ExxonMobil unveils emission reduction plans, commits to no routine flaring by 2030

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ExxonMobil said on Monday it plans to further reduce greenhouse gas emissions over the next five years to support the goals of the Paris Agreement and anticipates meeting year-end 2020 reductions. The measures being implemented will see the elimination of routine flaring...
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Vaccination roll-out will not immediately reverse oil demand destruction, IEA warns

OilNOW -
The International Energy Agency (IEA) on Tuesday warned that the roll-out of the coronavirus vaccine will not have an immediate impact on the destruction on global demand for oil. “The understandable euphoria around the start of vaccination programmes partly explains...
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Moonilal appoints new boards for Trinidad’s state energy companies

Trinidad and Tobago's Energy Minister Roodal Moonilal on Monday issued letters of appointment to the new boards of directors...

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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