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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...
News

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...
News

Sharp oil price pullback unlikely as demand improves: Goldman

OilNOW -
(Reuters) - The risk of a sharp pull-back in oil prices has decreased as the rebalancing of the crude market gathers pace, Goldman Sachs said, aided by a gradual lifting of coronavirus lockdowns and a faster-than-expected fall in output. The...
Exploration

ExxonMobil spent over US$35 million on Guyanese suppliers in Q1 2020

OilNOW -
ExxonMobil Guyana has spent over US$35 million or approximately 7.1 billion Guyana dollars on more than 500 local suppliers in the first quarter of this year. The company said local suppliers remain important to the success of its operations...
News

Guyana can become storage or manufacturing hub with wise use of oil money – Anthony Paul

OilNOW -
If Guyana is to avoid the consequences that come with being heavily dependent on oil, then it must have a focused strategy for diversifying the economy says Trinidad and Tobago-based Energy and Strategy Advisor, Anthony Paul. During a recent interview...
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Petrobras makes double oil strikes in Brazil’s pre-salt

OilNOW -
Brazilian oil company Petrobras announced on Monday two oil strikes in the Santos and Campos Basins offshore the South American country. Petrobras said oil, which is of excellent quality, was found in the Southeast area of the Búzios in the...
Exploration

Guyana in ‘Golden Triangle’ of mega oil reserves

OilNOW -
Guyana falls within the Golden Triangle of mega oil reserves along with countries such as Brazil, Venezuela and Nigeria, and producers in the US Gulf of Mexico. Deepwater drilling used to be prohibitively expensive, but high oil prices in 2007...
News

CAPEX cuts hit US$120 billion across 170 companies – Guyana offshore pushes on

OilNOW -
COVID-19 lockdown measures have brought a sharp drop in global oil and gas demand, with the International Energy Agency estimating that global oil demand could fall by approximately 26 percent this month. GlobalData says the crash in prices - aggravated...
News

Supermajors’ first quarter earnings were bad and will likely get worse

OilNOW -
(Bloomberg) --Big Oil emerged from first-quarter earnings battered and bruised, but things are only going to get uglier. Major oil and gas producers from Norway to the U.S. saw profit plunge in the opening three months of the year. Exxon...
News

Oil stockpiles have stopped growing in world’s biggest buyer

OilNOW -
The great oil glut of 2020 may have already peaked in the world’s biggest crude importer, Bloomberg said in a report on Monday. Crude inventories in China have shrunk in recent weeks after rising to record levels, according to analysts...
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Macaw-1 to kick off Suriname’s offshore exploration drive – Staatsolie 

TotalEnergies will begin drilling the Macaw-1 exploration well in Suriname's Block 64 by mid-May 2025. According to the state-owned...

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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