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Chevron ramps up production in Venezuela

OilNOW -
Chevron Corporation has increased production at a key Venezuela oil project to levels not seen in almost a year, despite US sanctions aimed at crippling the regime of embattled President Nicolas Maduro. According to a Bloomberg report, Chevron has kept...
News

TechnipFMC warns of impairment impact

OilNOW -
(Market Watch) TechnipFMC PLC (FTI.FR) said late Monday in its preliminary results that revenue for the full year is expected to meet guidance and that it expects impairment charges to impact the fourth quarter. The London-based oil-and-gas company said revenues...
Exploration

Noble, ExxonMobil enter drilling agreement for Guyana-Suriname basin

OilNOW -
Noble Corporation plc and ExxonMobil on Tuesday announced the execution of a unique commercial enabling agreement for drilling services in the Guyana-Suriname Basin. The agreement defines contract terms for the continuation of drilling services using certain drilling units in...
News

Coronavirus to completely wipe out projected Q1 2020 global oil demand growth – Rystad Energy

OilNOW -
The coronavirus epidemic in China is expected to have a significant impact on global oil demand growth in coming months, according to a new report from Rystad Energy. The virus has triggered restrictions in the country’s public transport and air...
News

Still early days to determine full volume of gas at Stabroek Block – Dr. Bynoe

OilNOW -
As discussions continue in the South American country of Guyana on the prospect of bringing gas to shore, the country’s Department of Energy said while this project could come on stream as early as 2023, the full volume of...
News

Payara review progressing well – approval expected after elections

OilNOW -
Review of the Field Development Plan for the proposed 220,000 barrels per day Payara Development Project offshore the South American country of Guyana is progressing well with approval likely to come after the country’s March 2 elections. “The Department of...
News

Guyana now has a Local Content Policy

OilNOW -
The much-anticipated Local Content Policy (LCP) that sets the framework within which companies in Guyana’s oil and gas sector are expected to operate has been completed and will be made public shortly. Director of Guyana’s Department of Energy (DE), Dr....
News

Guyana has produced over 2.7 million barrels of oil to date; gov’t’s 1st lift due next week

OilNOW -
Over 2.7 million barrels of oil have been produced to date from the Liza Phase 1 Development and the Guyana government is gearing up to lift its first 1 million barrels by early next week. Director of the Department of...
News

O&G pushing Guyanese companies to adopt international standards

OilNOW -
Nabi Construction Inc. the Guyanese partner in the Nabi/KCL Oilfield Construction Services joint venture is one of a number of local companies benefiting from knowledge transfer and capacity building initiatives that are helping these firms tap into opportunities in...
News

Most of world’s top 30 high impact wells in South America, Africa

OilNOW -
Although 2019 was a disappointing year in terms of high impact well (HIW) drilling in the oil and gas sector, comparatively stable market conditions are favoring new exploration activity in 2020 for areas that combine high risk and high...
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Guyana barrels remain ‘extremely competitive’ even in low-price scenarios – Norway research firm

Guyana’s deepwater volumes remain central to the pool of “advantaged barrels” that analysts say can withstand prolonged low-price environments....

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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