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“Get out!”: Maduro breaks relations with US and demands all consular staff leave in next 72 hours

OilNOW -
Nicolás Maduro spoke from the balcony of Venezuela’s presidential palace Wednesday, where he announced he was officially breaking political and diplomatic relations with the US and ordered all consular staff to leave the country within the next 72 hours,...
Exploration

CNOOC plans 173 new wells in 2019; targets almost 500 million boe

OilNOW -
CNOOC Limited on Wednesday announced that the company's net production target for 2019 is 480 million to 490 million barrels of oil equivalent (BOE), of which, production from China and overseas, accounts for approximately 63% and 37%, respectively. “The Company's...
News

Venezuela prepares for massive anti-government marches

OilNOW -
(CNN) Scores of people are expected to take to the streets of Venezuela on Wednesday in a revitalized effort against President Nicolas Maduro and his government. The opposition-controlled National Assembly called for Wednesday's nationwide marches after accusing Maduro's government of...
News

BP CEO Bob Dudley sees solid oil demand growth despite fears over global economy

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(CNBC) BP is expecting solid growth in oil demand this year despite growing concerns about a global economic slowdown, CEO Bob Dudley said Tuesday. The British energy giant forecasts the world's appetite for oil will grow by another 1.4 million barrels...
News

U.S. shale oil output to rise to record 8.179 million bpd in February: EIA

OilNOW -
(Reuters) - U.S. oil output from seven major shale formations is expected to rise by nearly 63,000 barrels per day (bpd) in February to a record 8.179 million bpd, the U.S. Energy Information Administration said in a monthly report...
News

Guyanese youth warming up to oil and gas

OilNOW -
Scores of young people in Guyana were given an opportunity to learn about the emerging oil and gas sector and how they can position themselves to benefit from opportunities. This was done through the hosting of the second round...
News

Oil prices drop as China economic slowdown threatens to spread

OilNOW -
(Reuters) - Oil prices fell on Tuesday on signs that an economic slowdown in China, the world’s second-largest economy and oil consumer, was spreading, stoking concerns over future fuel demand. The gloomy economic news has pulled down financial markets across...
News

Second shipment of Liza Phase One undersea pipes arrives

OilNOW -
Italian firm Saipem, one of the Prime Contractors for ExxonMobil Guyana and its joint venture partners HESS and CNOOC Nexen, has brought in its second shipment of 2,684 pipes for the Liza Phase One project timetabled to commence production...
News

University of Guyana set to launch first oil and gas programme this month

OilNOW -
The University of Guyana will be introducing an Associate of Science Degree in Petroleum Engineering this month. Registrar of the University, Dr. Nigel Gravesande, said so far, 74 persons have indicated an interest in participating in the programme when it...
News

Rystad Energy says ExxonMobil likely to sanction over $16B this year for its Guyana operations

OilNOW -
Norway-based Rystad Energy says US oil major ExxonMobil “looks primed” to make an offshore sanctioning splash in 2019 for its operations in Guyana. The company will be bringing forward over $16 billion for sanctioning, the industry analyst said. “In fact,...
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T&T Energy Ministry to investigate rig collapse that left worker missing

Pete Phillip, a worker attached to Well Services Limited, is missing after an incident at Rig 110 within the...

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