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Brazil oil auction a ‘total disaster’ as bidders stay away

OilNOW -
(Bloomberg) Brazil’s largest-ever auction of oil deposits flopped, sending the real tumbling, after state-controlled Petroleo Brasileiro SA did most of the bidding while other major oil companies stayed away. Petrobras, as the company is known, joined with China’s Cnooc Ltd....
Exploration

Guyana to place 3rd party verifier on FPSO for crude lifts

OilNOW -
Guyana's Crude Lifting Agreement is expected to be completed over the coming week. The agreement, which came out of a model designed by the Association of International Petroleum Negotiators (AIPN) in 2001, speaks to the specific lifts that the four...
News

Demand for OPEC crude expected to slide as Guyana, other producers add to supply

OilNOW -
Demand for oil from the Organization of Petroleum Exporting Countries (OPEC) is expected to slide as the oil cartel’s market share shrink in coming years amid a flood of US shale and supply from countries like Guyana, where production...
News

Bristow emerges from bankruptcy with successful debt restructuring

OilNOW -
Bristow Group Inc. has emerged from Chapter 11 bankruptcy protection, successfully completing its debt restructuring process and implementing the Chapter 11 reorganization plan confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on October 4, 2019. Bristow said on October...
Exploration

AAPG geosciences workshop in Suriname to focus on offshore oil potential

OilNOW -
The American Association of Petroleum Geologists (AAPG) is set to stage a Geosciences Technology Workshop (GTW) in Suriname to be held at the Torarica Hotel in Paramaribo on November 6-7, 2019. The workshop will focus on recent discoveries and exploration...
News

ExxonMobil, partners strike oil and gas in North Sea

OilNOW -
ExxonMobil and partners Equinor, Idemitsu and Neptune have discovered oil and gas in exploration well Echino South, 35/11-23, by the Fram field in the North Sea. Recoverable resources are estimated at 6-16 million standard cubic metres of oil equivalent,...
News

Oil to shore can be a “magnet for corruption” – Bloomberg column warns

OilNOW -
An opinion piece by Bloomberg columnist, Mac Margolis, published on Tuesday, November 5, outlines a number of observations and recommendations for South America’s newest oil and gas hotspot - Guyana, on how the country can best navigate the road...
News

CGX Energy pursuing deep water port facility in Guyana

OilNOW -
CGX Energy Inc. through its wholly owned subsidiary Grand Canal Industrial Estates Inc. (GCIEI) has made a request for proposals for the provision of infrastructure services as part of the construction of a deep-water port facility at Crab Island...
News

Guyana, Ghana companies partnering to supply workers for offshore rigs

OilNOW -
Ghana headquartered Unicon Western Engineering Services –a subsidiary of Unicon Western Holdings –has teamed up with a Guyanese company, Amazonia Expert Services Limited, to launch UNICON Guyana Inc. (UGI). UGI will be responsible for recruiting and training labourers for work...
News

Guyana oil development bringing new discoveries of wildlife

OilNOW -
Exploration activities offshore South America’s lone English-speaking country – Guyana - have so far unearthed billions of barrels of crude. The environmental studies being conducted for the development of these oil fields are also discovering something else - new...
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TEDxTurkeyen conference to spark bold civic dialogue this August

A “space for fresh ideas, civic reflection, and visionary thinking”, TEDxTurkeyen is set to debut on August 29 at...

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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