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Low O&G prices, COVID-19 will hit an already vulnerable TT hard – Ramnarine

OilNOW -
Former Minister of Energy and Energy Affairs of Trinidad and Tobago Kevin Ramnarine says that the Twin-Island Republic will be hit hard by the fall in oil and natural gas prices which is wreaking havoc in the energy market...
Exploration

Largest number of bankruptcy filings in modern history in play as US upstream industry braces for impact

OilNOW -
Whiting Petroleum this week opened the door of Chapter 11 filings but will not be the only company to cross that threshold. As the US upstream industry is heavily indebted, the current price environment is likely to create the...
News

Tullow gets approval for $1.9 billion debt capacity

OilNOW -
Tullow Oil plc said Friday it has completed the bi-annual redetermination of its Reserves Based Lending (RBL) credit facility with $1.9 billion of debt capacity approved by the lending syndicate. As a result, the Group has c.$700 million liquidity...
News

Over US$1.2M in royalty for NRF by month end…Liza production surpasses 1.7 million barrels in January

OilNOW -
Oil production from the Liza Phase 1 Development at Guyana’s Stabroek Block amounted to 1,745,930 barrels for the month of January which is equivalent to 56,320 barrels of oil per day. Guyana’s Ministry of Finance said on Thursday in its...
News

Apache, Total make second discovery offshore Suriname

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Apache Corporation (NYSE, Nasdaq: APA) and Total S.A. (NYSE: TOT) on Thursday announced a significant oil discovery at the Sapakara West-1 well drilled offshore Suriname on Block 58. The well was drilled using the Noble Sam Croft with Apache as operator...
Exploration

Political turmoil, price uncertainty will delay FIDs in Guyana for months – Rystad Energy

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Political turmoil in South America’s newest oil producing nation Guyana, coupled with falling oil prices and the COVID-19 pandemic will delay Final Investment Decisions (FIDs) for offshore projects by several months, according to Norway-based energy research and business intelligence...
News

Around 25 million people could lose jobs globally as pandemic crushes economies, industries

OilNOW -
Measures to stem the COVID-19 pandemic have pushed the world’s largest economies into near-hibernation. While China shows early signs of re-emergence, the U.S. and Europe aren’t yet at the viral peak. Combined with a collapse in oil prices and...
News

TechnipFMC slashes 2020 CAPEX by US$150 million

OilNOW -
TechnipFMC plc (NYSE: FTI) (Paris: FTI) said Wednesday it remains focused on taking all necessary steps to ensure the health and well-being of its employees, contractors and partners, and it is taking decisive actions in response to the current...
News

Saudis boost oil output in defiance of Trump’s plea to end price war

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(Bloomberg) Saudi Arabia showed no sign of bowing to pressure from U.S. President Donald Trump to dial back its oil-price war with Russia. Instead, the kingdom pushed crude supply to record levels. Trump said Tuesday night that he’d spoken to...
News

Guyanese engineers install subsea production assets for Liza Phase 1

OilNOW -
A team of Guyanese Engineers, working as Remotely Operated Vehicle (ROV) Pilots / Technicians for Offshore Innovators (Guyana) Inc. (OIG), have successfully supported the installation of their country’s first ever subsea field, making first oil possible at ExxonMobil’s Liza...
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Q1 withdrawal from Guyana’s oil fund up 60% from last year’s

The Guyana government ramped up withdrawals from the country’s oil fund in the first quarter of 2025, taking out...

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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