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Considerations for an oil and gas lifting agreement for Guyana

Bobby Gossai, Jr. -
In offering an exploration opportunity in a block, the motivation of the government largely is to encourage investment in the form of exploration activities, such as shooting seismic and exploration drilling. The prime objective of the oil company is...
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First Iranian oil tanker arrives in Venezuela

OilNOW -
Iranian-flagged oil tanker, Fortune, has reached Venezuelan jurisdictional waters carrying approximately 45.5 million gallons of gasoline and related products. The vessel is part of a fleet of five oil tankers shipping petrol to the South American country in defiance...
News

Trinidad and Tobago says it will not facilitate passage of Iranian oil tankers en route to Venezuela

OilNOW -
Trinidad and Tobago is adamant that it will not facilitate the passage of a fleet of Iranian oil tankers heading to Venezuela loaded with petrol. Minister of National Security, Stuart Young, is quoted in Newsday as saying that the twin...
News

‘Pariah states exchanging things they need for things they have’ – U.S. special rep to Venezuela

OilNOW -
Tensions continue to mount as a five-tanker Iranian fleet sails to Venezuela loaded with an estimated 60 million gallons of gasoline in defiance of US sanctions. Analysts say the oil was bought with Venezuelan gold, an allegation which Iran denies. The...
News

Growing ‘Armada of vessels’ offshore Guyana will require large shorebase support

OilNOW -
The growing activity offshore the South American country of Guyana is likely to hit peak in the latter part of this decade and will require large shorebase support services which is something the new oil producing nation will have...
News

Hong Kong tensions unnerve world stock markets, oil tumbles

OilNOW -
(Reuters) - Oil prices tumbled, and global equity markets wavered on Friday as China’s move to impose a new security law on Hong Kong further strained U.S.-Sino relations and clouded economic recovery prospects. News that China also dropped its annual...
News

Canadian dollar slides as U.S.-China tensions weigh on oil prices

OilNOW -
(Reuters) - The Canadian dollar weakened against its U.S. counterpart on Friday as oil prices fell and domestic data showed a record decline in retail sales, with the loonie giving back some of this week’s rally. At 9:09 a.m. (1309...
News

Oil climbs as Guyana lifts its second cargo, narrows search for marketing firm

OilNOW -
Oil futures rose this week pushing both Brent and WTI contracts to around 2 ½ month peaks as new oil producer Guyana lifted its second 1 million barrels of crude from the ExxonMobil-operated Stabroek Block where production began last...
News

SBM Offshore working to develop FPSOs powered by wind, solar energy

OilNOW -
The reduction of greenhouse gases is one of the greatest challenges facing operators and service companies in the oil industry. But the task is certainly not an insurmountable one for Dutch floater specialist, SBM Offshore. Over the past few...
News

Qatar Petroleum inviting Exxon, Chevron and ConocoPhillips for JV gas talks

OilNOW -
Qatar Petroleum will invite Exxon, Chevron and ConocoPhillips for talks to form a joint venture to expand gas production at the country's North Field, Its Energy Minister and QP Chief Saad Al-Kaabi told Bloomberg. According to reports, Qatar wants to...
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“Delay, Baby, Delay”: Oil industry to pull back as prices tumble – Wood Mackenzie

The global oil industry is preparing to delay spending and development in response to falling crude prices and market...

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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