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Noble, Pacific Drilling enter merger, deepwater drilling capabilities to be enhanced

OilNOW -
Noble Corporation and Pacific Drilling Company LLC announced Thursday that they have entered into a definitive merger agreement under which Noble will acquire Pacific Drilling in an all-stock transaction.  The definitive merger agreement was unanimously approved by each company's...
Exploration

Guyana wells have high recovery rates, can be drilled faster than any other deepwater basin in the world

OilNOW -
The Guyana basin continues to shine with a range of world class attributes such as low breakeven prices, high quality crude and wells that are relatively shallow, which one co-venturer in the prolific Stabroek block says can be drilled...
News

U.S. crude flows to India surpasses Saudi, UAE volumes in February

OilNOW -
In February, crude flows from the United States to India totaled 2.11 million mt, about 31% higher than the 1.61 million mt from Saudi Arabia, putting the US as the No. 2 importer during the month, trailing only top importer Iraq,...
News

Around 3 Suezmax-sized cargoes load in Guyana each month for multiple destinations

OilNOW -
There are approximately three Suezmax-sized cargoes that load in Guyana each month, a pattern seen since October 2020, according to cFlow, an S&P Global Platts trade-flow software. These cargos are lifted for ExxonMobil, operator at the Stabroek block, co-venturers...
News

Suez Canal blockage affecting passage of 13 million barrels of crude

OilNOW -
Energy intelligence firm Vortexa has so far identified ten tankers carrying around 13mn bbl of Middle East crude that could be affected by the blockage of the Suez Canal - caused by a container ship accident in the narrow...
News

Guyana’s 5th oil cargo was sold to Hess, no decision yet on exports to India

OilNOW -
The Government of Guyana sold its 5th oil cargo to Hess in February which saw the country being paid the highest sum to date for its exports, on par with the market price for crude at the time. The...
News

Equinor makes biggest oil discovery for the year on Norway’s continental shelf

OilNOW -
Equinor and partners Vår Energi, Idemitsu Petroleum and Neptune Energy have made the biggest discovery so far this year on the Norwegian continental shelf (NCS). Preliminary estimates place the size of the discovery between 12 and 19 million standard...
News

Mexico investments in jeopardy as Guyana, Brazil and others push hard to develop oil resources

OilNOW -
Political instability has always been the Achilles' heel of Latin America. Investments in the region have often been jeopardized by governments who make changes to what came before. The energy sector has been particularly affected, as it has been...
News

Team working towards start-up of Liza Destiny FPSO gas compressor

OilNOW -
Reinstallation of components of the flash gas compression system is progressing offshore Guyana on the Liza Destiny FPSO. ExxonMobil Guyana, operator at the Stabroek block, said in an update on Tuesday that critical equipment alignments, lifting of the suction silencer...
News

Oil jumps by 1% as ship runs aground in Suez Canal

OilNOW -
(Reuters) - Oil rose more than 1% on Wednesday after a ship ran aground in the Suez Canal raising supply concerns, although fears of a slow recovery in demand due to European lockdowns limited gains. Ships in the Suez Canal...
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NewsIşıl Güneş -

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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