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

OilNOW -
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...
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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...
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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...
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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...
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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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Eco Atlantic says it remains fully funded for Guyana offshore as operations slow down

OilNOW -
Eco (Atlantic) Oil & Gas Ltd. said on Wednesday in light of the COVID-19 pandemic, the company continues to take all of the recommended measures to protect the welfare of its personnel. “Ensuring the safety of employees remains a major priority...
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Carter Center: A high-stakes election in Guyana

OilNOW -
(The Carter Center) On March 2, citizens of Guyana went to the polls for what the country was calling “the mother of all elections.” Every election is important, of course, but this one was deemed especially so because five years...
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Gas sector impacted by triple whammy of coronavirus, oil price crash and LNG oversupply – WoodMac

OilNOW -
In its latest short-term gas and LNG outlook report, Wood Mackenzie weighs the risks coronavirus, sustained low oil prices and LNG oversupply pose to the sector this year. “While the collapse of LNG prices towards US production break-evens was foreseeable,...
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No job loss in coming months – BP chief tells staff in ‘global town hall’

OilNOW -
The CEO of BP Plc Bernard Looney has promised the workers of the British oil and gas major that its response to the novel coronavirus does not include making any staff redundant over the next three months. Writing in a...
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Worst oil demand contraction ever recorded in the making

OilNOW -
With billions of people worldwide under some form of lockdown, oil demand may fall as much as 20 million b/d at some stage this year, the International Energy Agency's Executive Director, Fatih Birol, said last week. The massive collapse in...
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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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