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Oil and gas project sanctioning set for staggering decline in 2020

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Global project sanctioning is set for a staggering decline this year of over 75% from 2019 levels, as the COVID-19 pandemic has caused E&P spending to drop much lower than what was expected at the beginning of the crisis....
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Crude shipments resume from Pemex floating oil storage unit after collision

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(Reuters) - An oil production and storage vessel operated by Mexican state oil firm Pemex in the Gulf of Mexico has resumed crude shipments after a tanker collision halted exports earlier this month, according to a person with knowledge...
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ExxonMobil submits application for Kaieteur block activities

OilNOW -
ExxonMobil has submitted a block-wide application for environmental authorization to conduct oil and natural gas activities on the deepwater Kaieteur block, company spokesman Todd Spitler is quoted as saying in an S&P Global Platts report this week. The Kaieteur block...
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Survey to evaluate seabed conditions at Stabroek block wraps up

OilNOW -
Ocean Infinity said on Thursday it has successfully completed a project for ExxonMobil offshore Guyana which served to identify and evaluate seabed conditions at the prolific Stabroek block. The project involved acquiring high-resolution geophysical and geotechnical data through the simultaneous...
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Payara will be delayed by a year – Platts analyst

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An analyst at energy and commodities information company S&P Global Platts anticipates that ExxonMobil’s 3rd proposed development at the Stabroek Block offshore Guyana will be delayed by a year. The Payara development, which is targeting 180,000 to 220,000 barrels of oil...
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In Suriname, the coronavirus pandemic dislodges a once-unmovable strongman

OilNOW -
(World Politics Review) Any doubt that the coronavirus pandemic can transform political realities was erased Monday when one of the world’s most entrenched strongmen was formally swept out of power in the tiny South American nation of Suriname. The...
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The dismantling of the oil industry in Venezuela and the defense of the public sphere

OilNOW -
By Miguel Denis and César Romero (openDemocracy) Venezuela is going through a general collapse of public services, which adds to the problem of hyperinflation, the low wages, and precarious living conditions. This context has motivated frequent protests in many communities...
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Oil prices slip as clouds gather over fuel demand, looser supply curbs

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(Reuters) - Oil prices edged lower on Friday, with trading marked by growing uncertainty about global recovery in fuel demand as new COVID-19 cases surge in several countries just as major producers get set to loosen production curbs. Brent crude...
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Undemocratic leanings pushing Guyana’s risk profile up and harming oil potential

OilNOW -
On Wednesday, the United States of America announced that visa restrictions would be imposed on those individuals who, whether part of or connected to the government, indulged in continued efforts to stymie the conclusion of the 2020, General and...
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Guyana officials hit with US sanctions over democracy concerns

OilNOW -
A more than 4-month delay to the conclusion of its elections and the transfer of government to the opposition party which the results show secured the majority of votes have resulted in the United States announcing Wednesday the imposition...
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New oil spill bill places full liability on companies for damages and clean-up 

Oil companies operating in Guyana would be liable for all damages caused by an oil spill incident they cause,...

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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