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International Court begins virtual meetings as COVID-19 measures continue

OilNOW -
The International Court of Justice (ICJ) announced on Thursday that it is continuing to perform its functions despite the containment measures put in place around the world to halt the spread of COVID-19. The ICJ said through the use of...
News

Drop in gasoline demand globally driving oil to the brink

OilNOW -
As the global population puts the breaks on ground transportation thanks to lockdowns, road fuels – which make up about half of the world’s oil demand – has become the segment most impacted by the COVID-19 pandemic. Among road...
News

Tullow sells stake in Uganda oil fields for $575 million

OilNOW -
Tullow Oil announced on Thursday that Total has agreed to buy its entire stake in their joint onshore oil fields in Uganda for $575 million as part of its target to raise $1 billion this year to tackle its...
News

US fracking set for biggest monthly decline in history

OilNOW -
The Covid-19 pandemic has ravaged global oil demand and, coupled with the extremely low price levels brought on by the wide supply surplus, is likely to cause the largest monthly drop in fracking activity ever recorded in the US,...
News

Oil price collapse pushes Shell to delay major O&G projects

OilNOW -
Royal Dutch Shell has postponed decisions on whether to go ahead with two large oil and gas developments in the Gulf of Mexico and North Sea after oil prices collapsed due to the coronavirus crisis, a company source told...
News

Oil jumps after Trump orders Navy to “shoot down and destroy” Iranian gunboats

OilNOW -
US President Donald Trump said Wednesday that he has ordered the Navy to “shoot down and destroy” any Iranian gunboats that harass U.S. ships, a directive that comes a week after the Navy reported a group of Iranian boats made...
News

Trump orders US oil major to leave Venezuela by December 1

OilNOW -
(MarketWatch) The Trump administration on Tuesday ordered Chevron Corp. to “wind down” operations in Venezuela by Dec. 1, barring the California-based oil giant in the meantime from drilling or exporting, as the U.S. increases pressure on President Nicolás Maduro...
News

Oil storage, price and Guyana’s production

OilNOW -
As the coronavirus pandemic continues to crush oil demand globally, the oversupply of crude is placing a growing strain on storage capacity. In the US this resulted in the May contract for U.S. West Texas Intermediate (WTI) futures tumbling into negative territory...
Exploration

High impact exploration set for major decline…Guyana not likely to be affected

OilNOW -
Energy market research and intelligence company Westwood says exploration plans are being redrawn and the well count is expected to drop globally by as much as 35% on 2019 levels as a result of the double whammy of the...
News

Seismic industry revenues to nearly evaporate in 2020 – Rystad Energy

OilNOW -
The COVID-19 pandemic and the current low-oil-price environment have pushed global exploration and production operators to cut costs, scrapping all but the most vital of their investment plans. The supply industry that will suffer the most as a result...
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Latest News

NewsShikema Dey -

SBM Offshore turnkey revenue doubles on progress of Jaguar and GranMorgu FPSOs 

SBM Offshore's Turnkey revenue doubled in the first half of 2025 to US$1.32 billion, up from US$662 million in...

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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