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Petrobras boosts oil, gas output 16.5% in Q3

OilNOW -
Brazilian oil company Petrobras said Friday its third-quarter crude oil and natural gas output was 16.5% higher year on year, amid record-setting production from subsalt fields. State-led Petrobras, which has been was completing the installation of seven new floating production...
News

Oil prices fall as global demand concerns grow

OilNOW -
(Reuters) - Oil prices fell on Monday on concerns about slackening global demand that outweighed bullish signals from Europe, where fears of an economically damaging no-deal Brexit have eased. Global benchmark Brent crude oil LCOc1 was down 30 cents to...
News

Guyana, Trinidad O&G relationship must be based on mutual respect – private sector reps

OilNOW -
Members of Guyana’s business fraternity are concerned about the recent staging of an oil and gas safety forum in Georgetown by the Energy Chamber of Trinidad and Tobago. Guyanese business representatives say the local private sector groups were not...
Opinions

Good governance and applying Guyana’s oil income to national benefits

Bobby Gossai, Jr. -
Oil-rich low-income countries have sometimes been advised to accumulate their oil income into a national financial pool or fund (perhaps held in foreign stocks and bonds), and to spend only the “income” or “earnings” on the financial assets in...
News

Guyana’s largest oil conference set for November

OilNOW -
The Guyana International Petroleum Exhibition (GIPEX) will take place from November 20 to 22 at the Guyana Marriott Hotel, in the country’s capital city, Georgetown. The event is being organised by UK-based Valiant Business Media in collaboration with the Department...
News

Operationalisation of oil fund expected after elections – Guyana finance minister

OilNOW -
Guyana’s Finance Minister, Winston Jordan, is calling on politicians and others in the country not to politicize the Natural Resource Fund (NRF), also known as the Sovereign Wealth Fund, but see the value in its operationalisation. In a recent interview...
News

Eni CEO sees no future for companies working in just oil and gas

OilNOW -
(Reuters) There is no future for companies that work only in oil and gas in the medium- to long-term, the head of Italian major Eni said on Friday. “Diversification into renewable energy and the circular economy is crucial,” Claudio Descalzi...
News

SBM is successful bidder for five Brazilian FPSOs

OilNOW -
SBM Offshore said on Friday it is the successful bidder for the interests held by Brazil’s Servicos de Petroleo Constellation in five floating production, storage and offloading vessels. The company said completion of the transaction remains subject to various conditions...
News

TT bank positioning itself for Guyana’s oil windfall

OilNOW -
A Trinidad and Tobago financial institution — First Citizens Bank — is looking to service Guyana’s Oil and Gas industry. This, as Guyana’s prospects increase, and the South American nation moves closer to first oil by 2020. The Bank expressed...
News

SBM secures US$1.14B financing for Liza Unity FPSO from consortium of 9 international banks

OilNOW -
SBM Offshore said on Wednesday it completed the project financing of the Liza Unity FPSO for a total of US$1.14 billion. The project financing was secured by a consortium of nine international banks. The Company said it expects to draw...
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SLB acquires ChampionX as it strengthens production and recovery capabilities

SLB has completed its acquisition of ChampionX Corporation, expanding its portfolio in the production and reservoir recovery space.  In its...

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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