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Traders accelerate oil sales from floating storage

OilNOW -
(Reuters) - Traders have accelerated crude oil sales from floating storage in December to meet higher demand in Asia as the region’s refineries throttled up for peak winter consumption, trade sources and analysts said. The drop in excess global stored...
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Guyana must develop its oil resources to ensure brighter future – Greenidge

OilNOW -
While ExxonMobil’s discovery of 9 billion barrels of oil equivalent resources offshore Guyana and the potential it holds for transformational development is seen as a major plus by many for the South American country, there are others who have...
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Search for oil underway at Bulletwood-1 offshore Guyana

OilNOW -
U.S. oil major ExxonMobil has spudded the Bulletwood-1 prospect located 180km offshore Guyana on the Canje Block.  Bulletwood is said to be highly prospective with an environment of disposition unique among offshore Guyana blocks in that it contains both...
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SBM Offshore marks first year of oil production operations in Guyana

OilNOW -
SBM Offshore, builder and operator of the Liza Destiny FPSO has entered the first year of oil production offshore Guyana at the ExxonMobil-operated Stabroek block. The Liza Destiny FPSO is the first oil production vessel to be deployed to...
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‘Elephant Man’ got it right on Guyana’s multi-billion-barrel oil strikes

OilNOW -
Back when the first world-class Liza discovery was made in Guyana in 2015 it was not clear yet what this meant for the South American country and the basin where over 40 dry holes were previously drilled, and oil...
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Iran seizes oil tanker, announces plans to increase nuclear activities

OilNOW -
(Bloomberg) -- Iran seized a South Korean-flagged oil tanker in the Strait of Hormuz hours before announcing it would increase its nuclear activities, as tensions in the region mount in the final days of Donald Trump’s U.S. presidency. The Islamic...
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Despite challenges Guyana emerges from 2020 as major player in oil and gas universe

OilNOW -
2020 was another eventful year for the exploration and production activities offshore Guyana led by U.S. oil major ExxonMobil at the prolific Stabroek block. The year started with Guyana’s first oil lift, the announcement of another discovery in January...
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UAE’s SNOC, Eni produce first gas from Mahani field a year after discovery

OilNOW -
(S&P Global) The UAE's Sharjah National Oil Corp. and Eni have produced first gas from the Mahani field in Sharjah, one year after they announced the first onshore discovery in the country's third largest emirate in 37 years, the...
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Oil prices touch multi-month highs

OilNOW -
(Reuters) -Oil prices touched multi-month highs on Monday on expectations OPEC and allied producers may cap output at current levels in February and on hopes that coronavirus vaccines may help curb the spread of the virus and drive a...
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Gas to power project: outsiders always say it’s too expensive, you can’t do it

OilNOW -
The proposed gas to power project in Guyana can potentially have the single most transformative impact on the new oil producing country, promising significant benefits to the population. Most notable is that there are no technical barriers that prevent...
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PETRONAS secures deepwater Block 66 in Suriname with new contract

PARAMARIBO SURINAME - Staatsolie has signed a production sharing contract (PSC) with PETRONAS Suriname E&P B.V. (PSEPBV) and Paradise...

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