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CNOOC starts production at Luda development project

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China’s state oil company CNOOC has began production at the Luda 21-2/16-3 regional development, located Liaodong Bay of Bohai Sea, about 39 kilometers north of Luda 10-1 oilfield and 90 kilometers northwest of Suizhong 36-1 onshore terminal. CNOOC said the average...
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Guyana set to participate in SPE 5-day virtual event

OilNOW -
The Society of Petroleum Engineers is set to host its first-ever virtual event for the Latin American and HSE and Sustainability communities on July 27-31, 2020. SPE said it initially planned to co-locate two top-tier events this year in Colombia;...
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Guyanese official now heads Tiger Rentals country office

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Tiger Rentals Guyana Inc. announced on Wednesday that it has appointed Guyanese, Shane Singh, as its new Country Manager. “Mr. Singh’s appointment will play a critical role in supporting Tiger Rentals’ continued growth, strategy and delivery of quality service in...
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Big Oil’s worst-ever loss puts historic BP dividend cut in play

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(Bloomberg) For the first time since the West’s five energy supermajors were created in the early 2000s, all of them are set to post a quarterly loss. Once a money-making machine, Big Oil is now relying on ever-increasing amounts of...
Exploration

Opposition party appears to have won, incumbent yet to concede but O&G activities will progress – Fitch Solutions

OilNOW -
Political uncertainty in Guyana will have a limited impact on the ongoing oil and gas development projects in the South American country although the oil price rout and fall in global oil and gas investments could delay exploration and...
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Venezuela’s oil and gas sector sees worst crisis

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Venezuela’s oil and gas sector was already caught in a vicious cycle well before the Covid-19 outbreak created a world economic crisis. Even though there are several international companies still remaining in the country, they are not investing in any...
News

BP puts crude oil traders on leave pending investigations into China dealings

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(Reuters) - BP has put four traders responsible for Chinese crude oil sales on temporary leave as it conducts internal investigations into trades with Singapore’s Hontop Energy, four sources familiar with the matter said. They were involved in crude trading...
News

Eni to sell assets in Norway, Congo

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(Bloomberg) --Eni SpA is looking to sell assets in Norway and the Republic of Congo as oil’s slump prompts companies across the industry to rein in spending, according to people with knowledge of the matter. In Norway, Eni’s majority-owned Var...
News

Oil prices hit levels last seen in March on vaccine hopes, EU deal

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(Reuters) - Oil rose on Tuesday, helped by positive news about vaccine trials and a European Union stimulus deal, which took prices to levels last seen when an oil price war erupted in early March between Russia and Saudi...
News

South America’s newest oil producer drops over 50 million barrels of crude

OilNOW -
A ‘detrimental limbo’ of political uncertainty is becoming increasingly costly to new oil producer on the South American continent, Guyana, where project approval delays for a half-billion barrel offshore development has already resulted in more than 50 million barrels...
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Guyana’s Gas-to-Energy project wins Deal of the Year at EXIM 2025 Conference

The Export-Import Bank of the United States (EXIM) has awarded its prestigious Deal of the Year Award to the...

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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