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Brazil’s Petrobras shutting down 62 offshore platforms

OilNOW -
(Reuters) - Brazil’s state-owned oil firm Petroleo Brasileiro SA said on Wednesday it had begun suspending operations of 62 shallow water platforms in the Campos, Sergipe, Potiguar and Ceara basins. Petrobras, as the company is known, had previously announced the...
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Unforeseen events delaying offshore developments in Guyana

OilNOW -
Approval for ExxonMobil’s 3rd development project at the Stabroek Block offshore Guyana remains stalled due to what the country’s Department of Energy (DE) has described as recent ‘national and international events’. The spread of the novel coronavirus and an election...
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Largest supply-demand imbalance in history pushing US storage to its limits

OilNOW -
US crude oil stock builds hit a new weekly record in the week ending April 10 (week 15) as about 17.2 million barrels were sent into storage, Norway-based Rystad Energy estimates. It said this new record is forecast to...
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Oil industry could be wiped out “on the other side of the pandemic” – US Energy Secretary warned

OilNOW -
The United States Energy Secretary Dan Brouillette has noted that if oil producing countries did not agree to cuts in an attempt to rebalance a low price market and to counter the heavy impact of COVID-19, there may not...
Exploration

Oil prospects keeping Guyana’s outlook favourable

OilNOW -
The vast oil fields which have been discovered off the coast of Guyana by ExxonMobil continue to boost the economic outlook of the country even in light of an imminent global recession and growing domestic challenges triggered by political...
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BPTT’s gas operations continue despite COVID-19 difficulties – Claire Fitzpatrick

OilNOW -
Regional President of BP Trinidad and Tobago (BPTT) Claire Fitzpatrick said even though her company has been forced to make changes to its operations due to COVID-19, there has been no disruption in its supply of natural gas. According to...
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Bloomberg: World economy may be crashing but Guyana still seen Growing 53%

OilNOW -
(Bloomberg) The world may be falling into its worst recession in almost a century, but one tiny South American economy is still forecast to grow 53% this year. Guyana will enjoy by far the world’s fastest expansion, and will be...
Exploration

More than half of 2020 licensing rounds set to be wiped out – Rystad Energy

OilNOW -
More than half of the world’s planned licensing rounds are likely to be cancelled this year due to the combined effect of the COVID-19 pandemic and the ongoing oil price war, a Rystad Energy impact analysis forecasts. New licensed...
News

How the pandemic wiped out oil demand around the world

OilNOW -
(Bloomberg) Global oil demand is being destroyed as the coronavirus forces people around the world to remain indoors and avoid all unnecessary travel. Currently, between a third and a half of the world’s population are in lockdown, meaning few people...
News

Guyana oil revenues could fall by 15% – 40% – IDB

OilNOW -
In a report released this month on the impact of COVID-19 on the Caribbean region, the Inter-American Development Bank (IDB) said the pandemic coupled with low oil prices and Guyana’s elections conflict are expected to have deep implications for...
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Technip Energies highlights collaborative role in GranMorgu FPSO project

PARAMARIBO, SURINAME  - In an exclusive interview with OilNOW during the Suriname Energy, Oil & Gas Summit (SEOGS) 2025,...

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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