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Oil hits lowest in a year, even as OPEC considers output cut

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(Reuters) - Oil fell to its lowest level in more than a year on Friday on continued concerns about a rising global surplus, even as producers considered cutting output to curb supply. Prices were on course for their biggest one-month...
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PetroCaribe deterred focus on renewables – Caribbean academic

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(CMC) - A leading Caribbean academic says that while Venezuela's PetroCaribe initiative helped participating Caribbean Community (Caricom) countries get through a difficult patch, it also deterred investments in renewable energy. In 2005, Caracas developed an oil alliance with many Caribbean...
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Liza Destiny ready for topside modules

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Dutch floater specialists SBM Offshore says work on the 1.6-million-barrel capacity Floating Production Storage and Offloading (FPSO) vessel – Liza Destiny, is progressing on schedule with all systems in place for delivery in 2019. SBM said that after finishing the...
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Oil claws back some losses after 6-pct plunge, but outlook still weak

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(Reuters) - Oil bounced by more than 1 percent on Wednesday to claw back some of the previous day’s 6-percent plunge, lifted by a report of an unexpected decline in U.S. commercial crude inventories and record Indian crude imports. But...
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Favourable reservoir conditions and break-evens for development make Guyana a safe bet

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US oil major ExxonMobil is rapidly developing vast oil reserves discovered off the Guyana coast in what analysts say are ideal conditions for a solid return on investment that will result in massive revenue for the company and its...
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Guyana President returns home after medical treatment in Cuba

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Guyana’s President David Granger has been given the greenlight to travel home after receiving treatment over the past 3 weeks for Non-Hodgkin Lymphoma in the Caribbean island of Cuba. The Guyana Embassy in Cuba said in a statement on Monday...
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Trinidad presses dual gas supply from Venezuela

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Venezuela, Trinidad and Tobago and oil majors Chevron and Shell appear to be making progress on two separate projects that would develop and supply offshore natural gas, Argus said in a report on Monday. Venezuelan gas supply is critical for Trinidad,...
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Guyana submits Memorial on Jurisdiction to ICJ in Venezuela border case

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Guyana has submitted its Memorial on Jurisdiction in the case brought against the Bolivarian Republic of Venezuela to confirm, in a final and binding judgment, the full legal validity of the arbitral award that established the international boundary between...
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US support shows all parties now consider Venezuelan claim “unacceptable and fabricated”- Greenidge

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Guyana’s Foreign Affairs Minister Carl Greenidge has described as significant, the decision taken by the United States of America to stand behind Guyana on the controversy with neighbouring Venezuela. At a farewell reception for US Ambassador Perry Holloway on Friday...
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Oil climbs 1 percent on prospect of OPEC, Russia supply cut

OilNOW -
(Reuters) - Oil prices rose by around 1 percent on Monday amid expectations that top exporter Saudi Arabia will push producer club OPEC as well as perhaps Russia to cut supply toward year-end. Front-month Brent crude oil futures were at...
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U.S. Senator presents bill to strengthen security cooperation with Guyana amid Venezuela threats

United States Senator Michael Bennet (Democrat, Colorado) has proposed new legislation aimed at enhancing security cooperation with Guyana, deterring...

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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