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Liza crude now listed on Platts periodic table of oil

OilNOW -
Like the periodic table of elements, S&P Global Platts has compiled a list of different crudes ranging from lightest to heaviest. The oil being produced at the Liza Field offshore Guyana is now listed on that table. Platts says the...
News

Greenfield investments headed for lowest level since 1970s – Rystad Energy

OilNOW -
The outbreak of COVID-19 and the drop in oil prices has caused E&P companies to cut back on investments. This is especially the case for approvals of new investments, Rystad Energy said in its latest COVID-19 report. The chart below...
Exploration

Tullow says 57 workers test positive for COVID-19 on Ghana support vessel

OilNOW -
(Reuters) - Tullow Oil said in a statement on Friday that 57 workers tested positive for COVID-19 onboard a support vessel at its production facilities offshore Ghana. One other worker tested positive on another storage and production vessel. Production was unaffected,...
News

ICJ will open hearings on jurisdiction for Guyana-Venezuela border case on June 30

OilNOW -
Public hearings on the question of the International Court of Justice’s (ICJ) jurisdiction in the case concerning the Arbitral Award of October 3, 1899 (Guyana v. Venezuela) will open on Tuesday June 30, 2020 at 2 p.m. at the...
News

A big deal: Transparency in Guyana’s booming oil sector

OilNOW -
A note from the Extractive Industries Transparency Initiative Recent oil discoveries looked certain to transform Guyana’s economy. But the oil price shock could alter Guyana’s expected windfall and prospects of becoming a leading oil-producing nation. Faced with the repercussions of Covid-19,...
News

Guyana urged to avoid gasoline subsidies, over-dependence on its multi-billion-barrel oil resources

OilNOW -
With 16 discoveries, 8 billion barrels of recoverable oil resources and the start of production all in just under five years, Guyana is now one of the best-known newcomers to the league of petroleum producing nations. While the significant hydrocarbon...
News

Apache opts for exclusive listing on Nasdaq as industry awaits Suriname well results

OilNOW -
Apache Corporation said Wednesday it has elected to list its common stock solely on the Nasdaq Stock Market beginning June 9, 2020. The company will discontinue listing its common stock on the New York Stock Exchange and the Chicago Stock Exchange after the market closes on June 8. Additionally,...
News

Brazil’s Petrobras opens access to natural gas processing units in antitrust deal

OilNOW -
Brazilian state-led energy company Petrobras will grant rival producers and other companies access to onshore natural gas processing facilities in a two-step process in the latest move toward opening Latin America's biggest market under the terms of an antitrust...
News

Exxon targeting ‘industry-advantaged projects’ in face of volatility, uncertainty

OilNOW -
US oil major ExxonMobil said on Wednesday it is managing unprecedented market challenges from the COVID-19 pandemic while preserving long-term value to shareholders. Chairman and Chief Executive Officer Darren Woods told shareholders during the company’s annual meeting that despite the...
News

Chevron’s cost-reduction measure may eliminate up to 15% of workforce

OilNOW -
(Bloomberg) --Chevron is planning a 10% to 15% reduction in its global workforce this year, the biggest cut to headcount yet among global oil majors following the Covid-19 pandemic. The company aims to reduce costs to ride out the worst...
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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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