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Oil falls 4% on fuel demand concerns as Europe widens COVID-19 lockdowns

OilNOW -
(Reuters) - Oil prices fell 4% on Monday on worries that widening coronavirus lockdowns in Europe would weaken fuel demand and amid concerns about turbulence over this week’s U.S. presidential election. Brent crude futures for January dropped $1.49, or 3.9%,...
Exploration

Staatsolie CEO sees big benefits for Guyana and Suriname from natural gas

OilNOW -
Large volumes of associated natural gas discovered with oil off the coast of both Guyana and Suriname can play a major role in the transformation of these neighbouring countries which are now moving to develop their deepwater hydrocarbon resources....
News

Guyana’s First Lady tours country’s largest O&G shore base facility, makes employment pitch for differently-abled persons

OilNOW -
Guyana’s First Lady Arya Ali toured the country’s largest shore base facility servicing the offshore exploration and production operations on Friday, where she discussed matters related to the environment and employment. In recognizing the pivotal role the country’s oil and...
News

Eni gets greenlight from US authorities to offload crude from tilting oil tanker

OilNOW -
The Energy Chamber of Trinidad and Tobago said in an update on Friday that Italian-based multinational oil company, ENI has been given the green light from the United States to offload crude oil from the Nabarima FSO, without breaking...
News

Significant opportunities exist across a multitude of sectors – Bharrat tells Dubai investors

OilNOW -
Guyana’s Minister of Natural Resources, Vickram Bharrat, told a team of investors from Dubai during a recent meeting that significant business opportunities exist across several sectors, including areas outside of oil and gas. The Natural Resources Ministry said Saturday that...
News

Guyana has the largest new conventional liquids play the world has seen in a decade

OilNOW -
The increase in the estimated gross discovered recoverable resources at the prolific Stabroek Block offshore Guyana places the South American country at the top of the list for the largest new conventional liquids play in the world over the...
News

Stabroek Block offers best options in a global industry under pressure

OilNOW -
Even as the global pandemic continues to cast a shadow on the oil and gas industry, its unprecedented effects have not eclipsed the attractiveness of Guyana’s world-class oil finds.  In fact, it has served to highlight how advantaged the...
News

Oil major Total looking to pursue renewable energy, other investment opportunities in Guyana

OilNOW -
French oil company Total is looking to pursue further investment opportunities in Guyana with special interest in the areas of low carbon and renewable energy. President and Chief Executive Officer (CEO) Jean-Michel Lavergne, and Oliver Wattez, Guyana Branch General Manager...
News

ExxonMobil sees oil market in ‘early stages of recovery’, Guyana offshore remains top priority

OilNOW -
Even as it reported a third-quarter loss of $680 million on Friday following its largest-ever loss of $1.1 billion in Q2 2020, ExxonMobil Corporation said it sees the global oil market as being in the ‘early stages of recovery’...
News

Guyana remains committed to low carbon development – President tells international community

OilNOW -
The preservation of Guyana’s forests and adherence to the country’s Low Carbon Development Strategy (LCDS) in order to combat climate change and lower carbon emissions is a critical objective of the the new oil producing country. On Thursday, President Irfaan...
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Staatsolie approves commercial field for Sloanea-1 gas discovery in Suriname’s Block 52

Staatsolie Maatschappij Suriname N.V. has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname....

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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