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Baker Hughes taking multi-billion-dollar impairment

OilNOW -
US-based international industrial service company Baker Hughes announced on Monday its financial update in response to the significant decline in oil and gas prices and the COVID-19 pandemic. In addition to taking critical steps to reduce the spread and...
News

Saipem says death on FDS ship in Netherlands not COVID-19 related

OilNOW -
Italian-based engineering company Saipem says that the death which occurred on Friday on board the Saipem FDS ship, currently located in the port district of Waalhaven in Rotterdam, happened due to natural causes, as confirmed by the investigations of...
News

S&P Global: Oil crisis, project delays will not derail Exxon-Hess development in Guyana

OilNOW -
(S&P Global) On the precipice of a production boom that could transform its struggling economy, Guyana has attracted the drill bits of some of the largest international oil companies in recent years. Now, amid a collapse in global oil demand...
News

COVID-19: Keppel, others working to house Singapore workers on floating facilities

OilNOW -
Foreign workers in Singapore will be temporarily housed in two floating accommodation facilities from this week in a bid to contain the coronavirus spread, The Straits Times said in a report on Sunday. The Maritime and Port Authority of Singapore...
News

Record deal to cut oil output ends price war

OilNOW -
(BBC) OPEC producers and allies have agreed a record oil deal that will slash global output by about 10% after a slump in demand caused by coronavirus lockdowns. The deal, agreed on Sunday via video conference, is the largest cut...
News

How will global catastrophe and domestic discord affect the ‘fastest growing economy in the world’?

OilNOW -
In November 2019, the International Monetary Fund gave Guyana the nod as the world’s fastest growing economy on the strength of ExxonMobil’s mega oil discoveries. The country became an oil producer just over three months ago when the price...
News

COVID-19 precautions ramped up as Liza Destiny FPSO continues to produce Guyanese oil

OilNOW -
Extensive measures remain in place and precautions are being taken to ensure the health and safety of personnel working onboard the 120,000 barrels per day Liza Destiny FPSO producing oil offshore the South American country of Guyana. SBM Offshore, the...
News

Noble drill contracts shortened due to oil price, COVID-19 woes

OilNOW -
Noble Corporation says as a result of the oil price war and the global COVID-19 outbreak, its oil drilling contracts have been shortened, drill ships placed on standby and day rates slashed. The US drilling corporation has updated its drill...
Opinions

Understanding the dynamics of the global oil market: OPEC and non-OPEC production

Bobby Gossai, Jr. -
Crude oil is a major component of modern lifestyle. It has played an important role in many world events for over a hundred years. Wars have been fought over crude oil, and energy security is one of the major...
News

Norway says still willing to cut oil output if OPEC+ plan implemented

OilNOW -
(Reuters) - Norway, Western Europe’s largest oil producer, said on Saturday the country was still considering cutting oil production if the OPEC+ group implemented its plan. “How any potential output cut will be carried out by Norway, and the size...
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Latest News

Guyana's Oil LedgerKemol King -

Guyana’s May oil output hits new high as Liza 2 and Payara ramp up

Guyana’s offshore oil production reached a new milestone in May 2025, averaging an all-time high of 667,000 barrels per...

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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