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Guyana’s next FPSO will be first of its kind in the world

OilNOW -
The Liza Unity Floating Production Storage and Offloading vessel (FPSO) being built by Dutch floater specialist SBM Offshore is the first of its kind to be constructed under the company’s pioneering Fast4Ward program which aims to transform business by...
News

Oil prices skid on oversupply, storage concerns

OilNOW -
Oil prices fell on Monday on concerns about scarce storage capacity and global economic doldrums from the coronavirus pandemic. According to a Reuters report, U.S. oil futures led losses, falling by more than $2 a barrel on fears that storage...
News

BP revises $5.6 billion Alaska deal after oil price crash

OilNOW -
UK-based multinational oil and gas company BP said on Monday it had amended some financial terms of the $5.6 billion sale of its Alaska business to privately held Hilcorp following the recent slump in oil prices, which may lead...
News

‘Water-based’ crude producers can stay afloat…for now – TT Energy Minister

OilNOW -
While trading at Brent futures does not necessarily provide insulation from the oil price volatility gripping the global industry at present, it puts producers in this class in a better position to rally as storage space for crude continues...
News

Guyana battling oil crisis, global pandemic and internal conflict

OilNOW -
The International Energy Agency (IEA) says low oil prices impact the livelihood of millions of people employed along the oil industry’s extensive value chain. The IEA said too that low prices damage the economies of weaker producing countries where...
News

Loaded tankers unable to discharge fuel forces Pemex to declare force majeure on imports

OilNOW -
Mexican state oil company Pemex has declared force majeure over fuel imports from its trading arm PMI Comercio Internacional, two sources with knowledge of the decision told Reuters on Thursday, as demand craters due to fallout from the coronavirus...
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Network structure of oil producing countries and the impact of oil price changes

Bobby Gossai, Jr. -
Fluctuations in oil prices have caused oil-producing countries to design policies to control the global oil production and increase oil prices. The Organization of the Petroleum Exporting Countries (OPEC) regularly takes actions to coordinate its members’ oil production decisions...
News

Halliburton follows Chevron in halting Venezuelan operations

OilNOW -
Oilfield services provider Halliburton Co said on Friday it would cease most of its operations in Venezuela after the U.S. Treasury Department imposed tight new regulations on oil and gas companies doing business in the South American nation, Reuters...
News

Saipem in 269 million euros loss as projects get parked, axed

OilNOW -
Italian multinational oilfield services company Saipem said on Thursday it can no longer offer guidance for 2020 due to unpredictable market conditions brought on by the coronavirus pandemic and plummeting oil prices. Saipem said it recorded a loss in...
News

Caribbean economist highlights Guyana’s economic prospects in face of political uncertainty

OilNOW -
Guyana's economic prospects remain bright in face of the COVID-19 pandemic and falling oil prices. The one potential pitfall continues to be the unresolved elections held on March 2 for which a winner still cannot be determined. Allegations of...
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SBM Offshore Guyana and VMFA inspire young female athletes at Kickin’ Conversations 2025

SBM Offshore Guyana, in collaboration with the Vurlon Mills Football Academy (VMFA), successfully hosted its second ‘Kickin’ Conversations’ empowerment...

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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