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As Guyana prepares for oil bonanza, Rystad says world can hit peak oil demand sooner than expected

OilNOW -
Norway-based consultancy group Rystad Energy says the adoption of electrification in transport and other oil-dependent sectors is accelerating and is set to chip away at oil sooner and faster than in its previous forecast. As a result of this...
News

U.S. judge says Exxon lawsuit demanding millions lost in Cuba can proceed

OilNOW -
(Bloomberg) Exxon Mobil Corporation can move forward with a U.S. lawsuit seeking $280 million from two Cuban companies as compensation for a refinery and other assets seized from the oil giant after Fidel Castro’s 1959 revolution, a judge in Washington...
News

Exxon ‘slowly ramps up production’ to between 100,000 – 110,000 bpd, assessment of discharge silencer underway

OilNOW -
ExxonMobil Guyana said on Wednesday it has removed the faulty discharge silencer from the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel for further assessment of the damage to determine the necessary scope of repairs needed. The company said...
News

Guyana driving subsea tree demand as number of oil fields targeted for development increase

OilNOW -
The base-case subsea tree demand for the 2021-24 period is now forecast at approximately 1050 units representing an upward revision of 60 units compared to a March outlook by consultancy group Westwood Energy. “The increase is due to ExxonMobil’s commitment...
News

EPA says all projects subject to ‘comprehensive screening process’

OilNOW -
Guyana’s Environmental Protection Agency (EPA) says it routinely assesses all projects submitted for approval to determine their impacts on the environment and human health. This entails a comprehensive screening process which includes evaluation of the information submitted, site inspection...
News

TechnipFMC secures major subsea contract for Brazil field developments

OilNOW -
TechnipFMC has been awarded a major subsea contract from Petrobras for the Marlim and Voador fields, located offshore Brazil. TechnipFMC will supply up to eight manifolds for production and injection, utilizing the all-electric Robotic Valve Controller (RVC). The contract also includes...
News

World’s biggest oil trader expects demand to come roaring back this year

OilNOW -
(Bloomberg) -- The head of Vitol Group, the world’s biggest independent oil trader, expects crude demand to come roaring back this year and next as the world emerges from the pandemic. Demand for crude will increase by 7 million to...
Exploration

Maersk Drilling bags four-well contract for Brazil campaign

OilNOW -
Maersk Drilling has been awarded a contract with Karoon Energy Ltd for the semi-submersible rig Mærsk Developer to perform well intervention on four wells at the Baúna field offshore Brazil. The contract is expected to commence in the first...
News

Close to US$160M a year will be saved in power cost from gas pipeline – Guyana’s VP

OilNOW -
The benefits and implications of landing a gas pipeline onshore from the Liza Phase 1 Development continue to engage the public’s attention in Guyana with the government projecting massive savings from a reduction in the cost of power, while...
News

Venezuela oil field shuts down for maintenance, over 300 wells targeted

OilNOW -
Venezuela's state-owned PDVSA has started a maintenance shutdown of its Petropiar oil field located in the Ayacucho block in the Orinoco Belt, according to a technical report reviewed by S&P Global Platts. "It's being stopped in a programmed manner: 338...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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