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Low quality Guyana oil among list of Tullow’s 2019 disappointments

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Executive Chair of Tullow Oil PLC Dorothy Thompson reported the Board’s disappointment in the company’s operational and financial performance for 2019, saying that in 2020 the British oil and gas operator will work to rebuild the stakeholder trust that...
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They used to be oil tankers. Now they’re hospital ships deployed to help during the coronavirus pandemic

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Two US Navy hospital ships sent to ports in California and New York will help ease the burden of hospitals immersed in treatment of coronavirus patients. According to a CNN report, the USNS Mercy reached Los Angeles on Friday morning,...
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Oil headed to $10 a barrel as virus lockdown eradicates fuel demand

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(FORBES) Oil prices have collapsed by more than half this year, to $23 per barrel on Thursday for West Texas Intermediate crude. But now is not yet the time to buy oil—because the worst is yet to come. Gasoline demand is...
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Guyana’s ‘niche product’ could help counter a bearish oil market – API Chief Economist

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Chief Economist at the American Petroleum Institute (API) Dr. Dean Foreman believes that Guyana’s oil economy is likely to withstand the current low-price environment triggered by the Russia-Saudi Arabia price war and now worsened by the COVID-19 global pandemic. “Guyana’s...
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Guyana remains a bright spot in oil’s universe but politics could change the outlook

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The International Monetary Fund, World Bank, and several other institutions, analysts and experts have all placed Guyana on the road to rapid economic growth and transformation fueled by the massive oil resources discovered by ExxonMobil off the country’s coast...
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SBM Offshore prioritising staff safety as global pandemic unfolds

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Dutch floater specialist SBM Offshore says the unprecedented times brought on by the global COVID-19 pandemic is resulting in a strong, united front from the company as it takes measures to ensure the health and safety of its workers. “As...
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CGX’s Logistics Yard to service development of Guyana Deep Water Port

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CGX Energy Inc. through its wholly owned subsidiary Grand Canal Industrial Estates Inc. (GCIEI) will in 2020 begin construction of phase 1a of the deep-water port at the mouth of the Berbice River in the South American country of...
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CNOOC lifts 1st oil cargo from Guyana, reports record performance for 2019

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China’s state oil company CNOOC has lifted its first 1 million barrels of light, sweet Liza crude from Guyana’s offshore Liza Phase 1 Development project. The company has a 25% stake in the 6.6 million acres Stabroek block as...
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Fugro partners with SEA-KIT to develop new range of uncrewed surface vessels

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SEA-KIT, a global provider of hi-tech solutions to maritime and research industries, will work with Dutch engineering company Fugro to develop a new range of agile and compact uncrewed surface vessels (USVs) which can deploy remotely operated vehicles (ROVs)...
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Global oil demand could collapse by over 16 million bpd in April

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Global oil demand is expected to take the biggest hit in the month of April falling by nearly 16 million barrels per day (bpd) year on year, representing almost a 16% drop. Rystad Energy said this downgrade takes into...
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Keystone Consulting debuts at OTC: set to deliver grounded market intelligence on Guyana, region 

Houston, Texas, United States - Keystone Consulting (Guyana) Inc., a new research, marketing, and business intelligence firm, was officially...

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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