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Global oil & gas prices set to fall short of earlier forecasts as coronavirus spreads – Rystad Energy

OilNOW -
As China’s coronavirus epidemic continues to expand and more countries are affected, the slowdown in global oil and gas consumption this year will hit suppliers who will see average prices fall below previous expectations, according to Rystad Energy’s revised...
News

Guyana seeking firm to market Liza Crude

OilNOW -
Guyana’s Department of Energy (DE) has put out a request for Expressions of Interest (EOI) from companies looking to provide marketing services to the country for its share of crude from the Liza Phase 1 Development. The duration of services...
Exploration

Not all discoveries are developed, success not guaranteed – Bernstein analyst

OilNOW -
An analyst at private wealth management company, Bernstein, says offshore exploration and production activities, including campaigns in the Guyana-Suriname basin where US oil major ExxonMobil has made 16 discoveries since 2015, remain risky since many projects do not make...
Exploration

One vital corner of oil market is surging despite coronavirus

OilNOW -
(Bloomberg) A closely watched North Sea oil-price indicator is reflecting little of the demand destruction that the coronavirus has wrought on global markets. Brent crude futures for April, the most immediate contract, are trading 61 cents a barrel higher than...
News

Over 2,000 Saipem employees now working from home in Italy on coronavirus fears

OilNOW -
Saipem, in concert with employer and worker organisations, has been forced to act immediately to ensure the maximum safety of its employees, customers and suppliers, in compliance with the initial indications issued by Italy’s Ministry of Health and regional...
News

Exxon hits 15-year low prior to new strategy roll-out

OilNOW -
(Bloomberg) - Exxon Mobil fell to a 15-year low on Monday just over a week before CEO Darren Woods is scheduled to present the oil explorer’s long-term strategic plan to investors and analysts. The shares have been under pressure since...
News

Oil tanker captain killed in Pirate Attack off Venezuela

OilNOW -
Reports indicate that on Monday, armed robbers boarded the tanker San Ramón at an anchorage off Isla Borracha, Venezuela, and killed the vessel's master in an altercation. According to a report in The Maritime Executive, the victim has been identified by Venezuelan...
News

Oil sinks on CDC warning of impending virus outbreak in US

OilNOW -
(Bloomberg) -- Oil deepened a three-day rout as panic over a coronavirus outbreak in the U.S. gripped investors and sent shockwaves through commodity, equity and debt markets. Futures fell 3% in New York to the lowest level in more than two weeks....
News

Guyana did not pay a ‘fee’ to lift its first 1 million barrels of oil; cargo sold directly to shell

OilNOW -
The first one million barrels of profit oil allotted to Guyana was sold directly to Shell Western Supply and Trading Limited and as such did not attract a ‘lifting fee’. Responding to queries from OilNOW on the cost associated with...
Discoveries

Offshore drillers look to Guyana, Suriname as global market struggles to recover – S&P Global

OilNOW -
(S&P Global) Off the coasts of Guyana and Suriname, exploration and production companies are turning to offshore drillers and services providers to help them discover then recover massive amounts of crude oil locked beneath the floor of the Atlantic...
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Latest News

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bp makes 10th discovery of the year, its largest in 25 years

bp announced a major oil and gas discovery at the Bumerangue prospect in deepwater offshore Brazil, its tenth discovery...

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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