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Liza production to hit peak in August as water and gas injection come online – Hess

OilNOW -
Two additional high-quality reservoirs identified at Yellowtail-2 ExxonMobil is currently commissioning water injection equipment and bringing natural gas injection fully online at its Liza Phase 1 Development located 120 miles offshore Guyana at the Stabroek Block. This will see production...
News

As Guyana prepares to lift its 3rd oil cargo – new four-month supply glut looms

OilNOW -
Guyana will lift its third million-barrel oil cargo next week just as the upcoming partial return of curtailed OPEC+ oil production from August is set to create a new four-month supply glut of around 170 million barrels. Rystad Energy said...
News

Guyana’s oil resources well-positioned to survive stranded assets phenomenon – CGX Head

OilNOW -
Executive Director of CGX (Guyana) Energy, Professor Suresh Narine, says despite the gradual global transition to renewable energy, the demand for oil will remain high in coming years and as such, Guyana’s multi-billion barrel resources are well-positioned to survive...
Exploration

Tullow pushes back Suriname well campaign to 2021

OilNOW -
UK-based Tullow Oil said Wednesday it will be drilling the Goliathberg-Voltzberg North prospect at Suriname’s Block 47 early next year instead of Q4 2020, as was previously announced. The prospect lies approximately 260 kilometres off the coast of the country...
News

Halliburton to provide Petronas with landmark software for E&P activities

OilNOW -
Halliburton said on Tuesday it has received a scope expansion from Petroliam Nasional Berhad (PETRONAS) to support their upstream digitalization initiatives and reduce exploration time by increasing collaboration and efficiency. PETRONAS is the custodian of Malaysia’s oil and gas...
News

Liza Crude fixed for China delivery in July – S&P Global Platts

OilNOW -
The medium sweet Liza Crude being produced offshore Guyana was fixed for China delivery this month during which more rare grades were expected to arrive, with Chinese independent refiners now open to buying anything economically competitive, S&P Global Platts...
News

End game for oil? OPEC prepares for an age of dwindling demand

OilNOW -
(Reuters) - The coronavirus crisis may have triggered the long-anticipated tipping point in oil demand, and it is focusing minds in OPEC. The pandemic drove down daily crude consumption by as much as a third earlier this year, at a...
News

Analysis: India bonds with Iraqi crude amid Venezuelan, Saudi supply squeeze

OilNOW -
(S&P Global Platts) Singapore — India is increasingly turning to Iraq to feed its insatiable appetite for heavy sour crude following a squeeze in supplies from Venezuela and Saudi Arabia, helping the second-largest OPEC producer to emerge as the biggest...
News

Oil trading profits soar for energy majors who made storage bets

OilNOW -
(Bloomberg) –In March and April, as oil prices plunged to their lowest in a generation, Norwegian energy giant Equinor ASA was busy doing the opposite of what oil companies usually do: pumping as much crude as possible underground into...
News

Canje Block partner JHI Associates once again backing Guyana Amazon Warriors

OilNOW -
JHI Associates Inc. announced on Monday that it is entering its second season as an Official Sponsor of the Guyana Amazon Warriors. The Warriors will represent Guyana in the Hero Caribbean Premier League 2020 cricket tournament from August 18...
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Guyana says World Court ordered Venezuela not to conduct elections in Essequibo territory

Guyana said Thursday that the International Court of Justice (ICJ) has ordered Venezuela not to conduct or prepare to...

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