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VLCC earnings in negative territory, owners now idling ships

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Weak or negative returns for VLCCs hauling crude from the Persian Gulf to North Asia are prompting shipowners to adopt cost-cutting measures like curtailing sailing speed and idling their ships near Singapore or Sri Lanka's port of Galle, freight...
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Saipem looking to play major role in Nigeria, Mozambique natural gas expansion projects

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Italian engineering giant Saipem hopes to play a long-term role in the development of sub-Saharan African LNG infrastructure, its Chief Operating Officer for onshore, Maurizio Coratella, said in an interview. According to an S&P Global Platts report, Saipem-led consortiums were...
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Guyanese logistics company thriving in oil sector, expanding local supply chain

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Guyanese logistics company, Western Logistics has been thriving as a result of the business opportunities being provided by the oil and gas sector. Operations Manager of the company, Pradeep Ramoutar spoke of the role the oil industry played in the...
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Apache, Total attempting in Suriname what ExxonMobil accomplished in Guyana

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(S&P Global Platts) Total and Apache Corp. will continue their oil exploration program offshore of Suriname after ceasing drilling in one key test well upon facing "substantial pressure increases," but only after they had already struck oil at shallower...
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Flash gas compressor arrives offshore, experts on stand-by for reinstallation

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ExxonMobil Guyana said on Saturday the flash gas compressor has arrived offshore for reinstallation on the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel after undergoing repairs and upgrades in Germany. “The repaired and upgraded flash gas compressor and...
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Average size of each Guyana oil discovery is 300 million barrels

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New oil producer Guyana has been at the top of the global list for discovered resources since U.S oil major ExxonMobil made its first world class discovery in 2015. The company has made a total of 18 discoveries out...
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Top upcoming oil producer in western hemisphere urged to create level playing field for foreign investors

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Guyana is on a transformational journey as a result of the benefits of the oil and gas industry, and the United States’ Ambassador to Guyana, Sarah Ann-Lynch says that key to the country’s balanced growth is the creation of...
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Guyana court orders Kaieteur News to pay former President GY$20 million over false oil blocks claims

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Former Guyana President, Donald Ramotar has been awarded GY$20 million (approximately US$96,000) in damages by High Court Judge, Justice Navindra Singh in his defamation suit against Kaieteur News and its sister company Kaieteur Radio, Publisher Glenn Lall and the...
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Norway energy research group projecting record-breaking year for Guyana deepwater

OilNOW -
Guyana has started the year with an exploration disappointment as a partner in the ExxonMobil-operated Canje block last week revealed that the first wildcat in the license failed to deliver. However, Rystad Energy expects exploration activity in the country...
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Exxon firms up contract coverage for Noble drill ships targeting Guyana operations

OilNOW -
U.S oil major ExxonMobil has firmed up contract coverage for several Noble rigs under the Commercial Enabling Agreement it has with the drill company for operations in the Guyana-Suriname basin. The agreement defines contract terms for the continuation of...
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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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