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Elections 2020: Guyana’s final hurdle

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By Wazim Mowla | First published in Global Americans on June 11, 2020 It’s been more than three months since Guyana’s national and regional elections and the country is close to having a winner formally declared—after a transparent and credible...
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With contracts canceled and debts mounting, offshore oil drillers face another shakeout

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The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms, Reuters said in a report...
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Global natural gas output set to fall by 2.6% in 2020

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The Covid-19 pandemic has landed a lasting blow to both oil and gas markets. Global oil production has absorbed the lion’s share of the impact, but natural gas output, which was previously set to grow, is also set to...
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Oil falls on worries about a new surge in coronavirus infections

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(Reuters) - Oil prices fell on Wednesday, reversing the previous session’s surge as worries about a second wave of the coronavirus pandemic outweighed support from a gradual reopening of global economies. Brent crude, which on Tuesday rose to its highest...
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Suriname awaits new president, new oil policy

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Suriname's president Desi Bouterse has conceded defeat in the emerging oil producer's 25 May parliamentary elections, two days after the country's electoral council declared the official results, Argus Media said in a report on Monday. This clears the way for...
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Venezuela will not disrupt Guyana’s offshore oil operations – IHS Markit

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The oil discoveries made offshore Guyana, 16 of which are located at the prolific ExxonMobil-operated Stabroek Block, are not under any significant risk from Venezuela, despite a border controversy with Guyana that have seen aggressive actions by the Venezuelan...
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End of Venezuela’s oil fortune looms over Maduro’s regime

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(Bloomberg) -- Oil revenue, the financial lifeline of Venezuela, is quickly drying up, adding to the growing instability of Nicolas Maduro’s embattled regime. Crude exports that once accounted for 95% of foreign currency inflow to the country tumbled by almost...
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TechnipFMC bags subsea contract for Norway projects

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Equinor has awarded two contracts and issued a letter of intent to TechnipFMC for pipelaying and subsea installation for three projects on the Norwegian continental shelf (NCS). The projects in scope are Breidablikk and the Gas Import System for the...
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China’s June crude stocks to soar to new high as cheap inflow outpaces throughput

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China's crude oil stockpiles will likely extend the uptrend to hit a new record high in June as refinery feedstock imports outpace the rise in throughput levels, while storage availability encourages refiners to actively procure barrels to take advantage...
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Venezuela maintains ICJ has no jurisdiction in border case with Guyana

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Just days before the International Court of Justice is set to open public hearings on the question of its jurisdiction in the case concerning the Arbitral Award of October 3, 1899 (Guyana v. Venezuela), the Bolivarian Republic  is maintaining...
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Guyana represented just 4.2% of ExxonMobil’s global asset portfolio in 2024

Despite its role as one of the fastest-growing oil producers in ExxonMobil’s global portfolio, Guyana accounted for just 4.2%...

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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