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Break in US-Venezuela relations raises fresh concerns for oil market, OPEC

OilNOW -
A sudden escalation in long-burning tensions between the United States and Venezuela could have far-reaching ramifications in the oil market, where the Bolivarian Republic remains a significant player despite its plunging output, CNBC said in a report Thursday. On Wednesday,...
News

Maduro will face ‘swift and severe’ consequences if US diplomats are harmed – US Senator

OilNOW -
As tensions continue to rise in Venezuela, US Senator Marco Rubio on Wednesday said that embattled leader Nicolas Maduro will face severe consequences if any harm befalls American diplomats in the South American country. Rubio’s comments came hours after Maduro...
News

“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

OilNOW -
(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...
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Latest News

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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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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