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SBM Offshore, ExxonMobil discussing extending lease durations for Guyana FPSOs

OilNOW -
SBM Offshore and U.S. oil major ExxonMobil are in discussions regarding the extension of the lease and operate durations for the floating production storage and offloading vessels (FPSOs) targeting oil production at the Stabroek block offshore the South American...
News

Oil companies pumped US$8.1 billion into Guyana between 2015-2019 – Analyst

OilNOW -
Despite challenges both at the global and domestic levels, investment in Guyana’s oil and gas sector has remained robust in recent years. In fact, Americas Market Intelligence Co-Director, Arthur Deakin has pointed out that between 2015 and 2019, oil...
News

Crude futures slide on news of mutant coronavirus

OilNOW -
(S&P Global) Crude oil futures slid during the mid-morning trade in Asia Dec. 22, as concerns over a new strain of the coronavirus remained entrenched in the market. At 11:12 am Singapore time (0312 GMT), the ICE Brent February contract...
News

GE supporting Oil Field Revitalization Project in Brazil

OilNOW -
Sulzer Pumps UK have awarded GE Power Conversion a contract to supply the motors for the four water injection pumps which will equip a future Floating Production Storage and Offloading (FPSO) vessel. These will be very specific high power...
News

Lessons learnt from gas compression issue being factored into construction of other Guyana FPSOs

OilNOW -
With the commissioning of the gas compression system on the Liza Destiny FPSO and reduction of flaring to pilot levels, ExxonMobil says the lessons learnt from the issue which resulted in a prolonged period of flaring are being factored...
News

John Fernandes Ltd. expands reach in oil sector with plans to construct storage facility

OilNOW -
Guyanese shipping company John Fernandes Ltd. is looking to extend its reach in the oil and gas sector with the construction of a storage facility. John Fernandes Ltd. has already been building its oil and gas portfolio by providing...
News

Monitoring crude lifts was part of major focus for Guyana standards bureau this year

OilNOW -
The Guyana National Bureau of Standards (GNBS) says 2020 has been a successful year ranging from its responsibility to monitor the million-barrel oil lifts offshore to prepping companies onshore for opportunities in the oil and gas sector. According to a...
News

China could become world’s biggest refiner by 2025

OilNOW -
(S&P Global Platts) Sinopec's Economics & Development Research Institute, or EDRI, foresee China becoming the world's top refiner with about 1 billion mt/year, or 20 million b/d, of capacity by 2025, its vice general engineer Ke Xiaoming said at...
Exploration

BPC spuds Perseverance #1 well in The Bahamas

OilNOW -
Bahamas Petroleum Company has spudded the Perseverance #1 well in The Bahamas, targeting P50 prospective oil resources of 0.77 billion barrels, with an upside of 1.44 billion barrels. The company said on Monday the well was drilled on December 20 at...
News

Up-skilling of Guyanese has accelerated in the last two years – Lars Mangal

OilNOW -
The capabilities of Guyanese businesses in providing services to the emerging oil and gas sector have accelerated over the last two years as more companies move towards building capacity and improving their standards. In an article published in The Essential...
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Exxon says U.S. senators were misled; no Guyana tax credits included in its 2023 & 2024 filings

President of ExxonMobil Guyana, Alistair Routledge, has rejected claims that the company benefited from tax credits in Guyana for...

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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