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Post pandemic oil and gas opportunities will far outweigh challenges, says ADNOC CEO

OilNOW -
The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2020 Virtual – the world's biggest online gathering of oil and gas industry leaders – opened on Tuesday with a bullish forecast for the sector to emerge stronger from the...
News

Refining sector braces for “great shakeout” as demand destruction delivers blow

OilNOW -
Demand destruction wrought by the impacts of the global pandemic is precipitating rapid rationalization in the refining sector as the industry adjusts the level of refining capacity needed compared to what had been expected prior to the pandemic, IHS...
News

ExxonMobil set to spud ‘Liza look alike’ in first campaign at Guyana’s Canje block

OilNOW -
The first exploration well at the Canje block offshore Guyana will be drilled by the end of the year, ExxonMobil has confirmed. The well - Bulletwood-1- has been described by analysts as a ‘Liza look alike’ with a target...
News

Dated Brent boosted by vaccine news a month ahead of Guyana’s final oil lift for 2020

OilNOW -
Rare positive news amid the coronavirus pandemic pushed crude oil flat prices, including the flat price Dated Brent benchmark, sharply higher on Monday, although physical differentials remained stuck in negative territory for some BFOET grades, S&P Global said in...
News

Oil rises on hopes for COVID-19 vaccine, declining U.S. crude stocks

OilNOW -
(Reuters) - Oil prices climbed on Wednesday as hopes of an effective COVID-19 vaccine continued to bolster sentiment and an industry report showed U.S. crude inventories fell more than expected. Brent crude rose $1.17, or 2.7%, to $44.78 a barrel at...
News

Oil prices may rise to $50/b in six months, stocks back to normal in Q3: Vitol

OilNOW -
(S&P Global Platts) Oil prices may climb to $50/b in six months and crude stocks fall to "normal" in the 2021 third quarter if the OPEC+ coalition delays plans to add crude to the market and the demand outlook...
Exploration

Liza Destiny, drillships rack up over 11 million hours without lost time injury offshore Guyana

OilNOW -
Safety continues to be a top priority in the exploration and production activities offshore Guyana where ExxonMobil is operator at the prolific 6.6 million acres Stabroek Block. The Liza Destiny FPSO, built and operated by SBM Offshore, arrived in...
News

ExxonMobil drilling 14th well for Liza Phase 1 development ahead of evaluation exercise

OilNOW -
ExxonMobil will be embarking on an assessment of the Liza Phase 1 Development reservoir results at the prolific Stabroek Block, where the Liza Destiny FPSO is currently producing oil offshore Guyana. The Noble Bob Douglas is currently drilling the...
News

Saipem building construction yard with ‘largest heavy lift crane’ in Guyana, local team executing work

OilNOW -
Saipem said on Monday it has received authorization to proceed with the final phase of the Payara development project in Guyana from ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL). This authorization allows for the finalization of the...
News

Apache says Kwaskwasi is its ‘best well’ offshore Suriname

OilNOW -
Apache Corporation remains highly enthusiastic about prospects offshore Suriname and the discoveries it has made to date at Block 58, labelling the last target where it hit pay – Kwaskwasi-1 – as the ‘best well’ encountered so far. Kwaskwasi-1, announced...
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Latest News

Guyana's Oil LedgerKemol King -

Guyana gets another US$191 million from oil sales in June

Guyana earned just over US$191 million (GY$40 billion) from the sale of three oil cargoes (each about a million...

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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