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Norway’s $1 trillion wealth fund should keep oil stocks: commission

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Norway’s trillion-dollar sovereign wealth fund should continue to invest in oil and gas companies, a government-appointed commission recommended on Friday, contradicting earlier advice from the central bank, and boosting the shares of oil firms, Reuters said in a report...
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Granger confident of bringing electricity cost below 15 US cents per kilowatt hour

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Guyana’s President David Granger says the issue of energy was discussed with a team of United States Congressional officials during a meeting held on Thursday at State House in the country’s capital, Georgetown. Some of the visiting Congressmen, the President...
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Talks between Total, North Sea oil workers collapse

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Talks between French oil refiner Total and workers on three of its North Sea oil and gas platforms broke down on Thursday, meaning that a series of planned strikes over working rotas will go ahead, UK union Unite said...
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Swiss Bank executive enters guilty plea in Venezuelan US$1.2B PDVSA money laundering scheme

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A former Swiss bank executive has pleaded guilty to his role in a $1.2 billion money-laundering scheme involving Venezuela's state-run oil and Natural Gas Company, the Associated Press reported on Wednesday. Federal court records show that 44-year-old Matthias Krull pleaded...
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Guyana President briefs US Congressional team on wide-ranging areas of interest during fact-finding mission

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Guyana’s President, David Granger, on Thursday, August 23, met with a visiting delegation comprising Congressmen and other officials from the United States of America at the Ministry of the Presidency, where a number of issues were discussed, and areas...
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Goliat FPSO audit reveals deficiencies

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The Norwegian Petroleum Safety Authority (PSA) has asked Eni to act following an audit in May of the company’s management of emergency preparedness on the Goliat field FPSO in the Barents Sea. According to an August 22, 2018 report in Offshore, this exercise...
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Saipem’s $275M Constellation pipelay for Liza 2 campaign

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Saipem’s newly acquired US$275M Lewek Constellation vessel will be part of the Italian company’s fleet for the ExxonMobil-led Liza Phase 2 development offshore Guyana. The ultra-deepwater rigid and flexible pipelay heavy lift and construction vessel will join the Saipem FDS2...
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US demand for oil expected to decline through 2022

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US demand for crude petroleum is forecast to see marginal annual declines through 2022, according to Crude Petroleum: United States, a report recently released by Freedonia Focus Reports. This drop will result from lower expected levels of gasoline demand, which...
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BP’s $48.2 billion transformative deal that made history

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Saturday, August 11 marked 20 years since British Petroleum plc announced that it would acquire the American oil giant Amoco. The deal was huge, marking the largest industrial merger at the time and the largest foreign takeover in the...
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Kinley’s well control technology has advanced safety at oilfield operations

OilNOW -
Challenges In the early days of the oil field, blowouts were common, but there were no well control companies around to handle them. Thousands of lives were lost as oil companies struggled to handle dangerous blowouts without the benefits...
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Guyana’s power demand hits record high at 221.3 megawatts 

Guyana has recorded its highest-ever electricity demand this year, with peak consumption reaching 221.3 megawatts (MW) in September. The...

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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