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Venezuela sanctions set off fight for ‘plundered’ oil cargo

OilNOW -
(AP) — For two months, the Malta-flagged oil tanker Alkimos has been quietly floating off the Gulf Coast of Texas, undisturbed by the high-stakes legal fight playing out in a federal courtroom as a result of American sanctions on...
News

75% of targets at Orinduik block hold 3 billion barrels worth of light oil – Holzman

OilNOW -
Even though the market has expressed disappointment in the heavy oil found in the Jethro and Joe wells at the Orinduik block, it should bear in mind that three-quarter of the prospects are in the Cretaceous play says Gil...
News

Apache gets discovery of the year award for Suriname’s Maka Central oil strike

OilNOW -
US independent Apache Corporation has scooped up the discovery of the year award for its Maka Central-1 oil strike off the coast of Suriname, announced on January 7. The award was made in conjunction with Wood Mackenzie’s industry-leading annual Exploration...
News

Ten indigenous communities in Guyana get sanitization materials with support from ExxonMobil

OilNOW -
ExxonMobil Guyana and the Iwokrama International Centre have joined forces to provide 10 indigenous communities with cleaning and sanitization materials to help them through the COVID-19 pandemic. Iwokrama said the hand sanitizers, liquid soap, detergent and face masks that were...
News

Saipem secures US$325 million contract for Búzios pre-salt field in Brazil

OilNOW -
Italian multinational oilfield services company Saipem said on Monday it has been awarded a contract by Petrobras for the installation of a rigid riser-based subsea system to serve the Búzios pre-salt project, in water depths from 1537 to 2190 meters, offshore...
News

Over 2,400 Guyanese suppliers now accessing O&G procurement opportunities

OilNOW -
More than 2,400 Guyanese businesses are now registered on the Centre for Local Business Development’s (CLBD) Supplier Registration Portal where they are able to access procurement opportunities in the oil and gas sector. Since the start of operations in July...
News

Guyana oil potential remains strong, but country must avoid becoming another Venezuela

OilNOW -
Venezuela, the country with the largest proven oil reserves in the world, continues to experience a rapid decline in output, reaching just around 300,000 b/d at the start of July – the lowest in several decades. The United States Congressional...
News

Heavy oil at Orinduik Block becoming more attractive as Venezuela’s supply dwindles – Gil Holzman

OilNOW -
Even though the oil discovered in the Jethro and Joe wells at the Orinduik block turned out to be heavier than expected, one of the partners of the offshore license, Eco Atlantic, is convinced that the attractiveness of the...
News

Oil can help Guyana feed the region, become leader in renewables – UK High Commissioner

OilNOW -
British High Commissioner to Guyana, Greg Quinn, says the new oil producing country now has a real opportunity to use those revenues to strengthen its agriculture industry making it once again the breadbasket of the Caribbean, and perhaps even...
Exploration

Liza Crude could be ‘oil of choice’ as refiners seek lighter, sweeter blend

OilNOW -
The relaxing of COVID-19 lockdown measures is resulting in more vehicles taking to the roads and this is driving up the demand for lighter, sweeter oil which refiners need to produce gasoline. With a sulfur level of 0.51% and...
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Kamla Persad-Bissessar returns as TT PM in historic win

Voters in Trinidad and Tobago have removed the ruling People’s National Movement (PNM) from power. Electing the United National...

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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