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Cash transfers for the needy – Chatham House Expert

OilNOW -
When implementing cash transfers from oil, Chatham House expert, Dr. Valerie Marcel, firmly asserts that great caution needs to be taken. During an interview with OilNOW, Dr. Marcel categorically stated that it should not be done across the board....
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Liza Unity first Fast4Ward® hull moves into dry-dock

OilNOW -
WATCH VIDEO - SBM Offshore’s first Fast4Ward® hull for the Liza Unity FPSO project moves into the Keppel FELS dry-dock. During this phase, the mooring structures are integrated, and the first topsides modules are lifted onto the vessel. https://youtu.be/T1-vecN-gcg
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Petrobras looks to China’s ‘teapots’ to keep oil exports flowing

OilNOW -
(Reuters) - Brazil’s state-run Petrobras sees no need for cuts in oil production, executives say, as the market for its crude remains robust in China, while domestic demand for fuel picks up amid social distancing fatigue in Latin America’s...
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Huge glut of oil sitting on tankers shows signs of shrinking

OilNOW -
(Bloomberg) One of the oil market’s most obvious signs of oversupply -- millions of barrels being stored on tankers all over the world -- is showing very tentative signs of shrinking. On Thursday, North Sea oil traders offered almost 8...
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Exxon prioritizing development wells at Stabroek Block in coming months – Deedra Moe

OilNOW -
US oil major ExxonMobil will be focusing heavily on development drilling at the Stabroek Block offshore Guyana in the coming months. The company has been working to ensure the safety and health of its employees and the crews working offshore...
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Westmount buys shares in JHI ahead of Bulletwood drill campaign at Guyana’s Canje Block

OilNOW -
Westmount Energy Ltd has purchased 1,350,000 common shares in JHI Associates Inc through the issue of 15,930,000 new ordinary Westmount shares which will represent approximately 12.7% of Westmount's enlarged issued share capital. The transaction prices the New Ordinary Shares...
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Petrochemical products at forefront of COVID-19 fight – Chevron CEO

OilNOW -
Chevron Chairman and CEO Mike Wirth has described the petroleum industry as “ubiquitous and essential” in the fight against the COVID-19 pandemic which has now spread to 189 countries/regions with over 4.3 million confirmed cases and more than 290,000...
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Taps closing! US shut-ins to reach at least 2 million bpd in June – Rystad Energy

OilNOW -
US oil producers have been expected for some time to have to shut down oil production as a result of the COVID-19 pandemic, but they were initially slow to move. Now that profitability and storage limitations have started to...
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Dutch floater specialist looks ahead to larger projects with its state-of-the-art programme

OilNOW -
Dutch floater specialist SBM Offshore, while currently dealing with the challenges brought on by the COVID-19 pandemic and low oil price environment, is looking ahead to large capacity offshore developments where its state-of-the-art Fast4Ward® programme will be playing a...
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Baker Hughes looking for local firm to supply warehousing space in Guyana

OilNOW -
US-based energy and technology company Baker Hughes is looking for a firm in Guyana to assist in the supply of warehousing space for its operations in the South American country. The “locally qualified and registered company with local experience” would...
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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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