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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...
News

Venezuela oil worker on house arrest after criticizing Maduro

OilNOW -
(Reuters) - Venezuelan authorities granted house arrest to a worker at state oil company Petroleos de Venezuela who was detained nearly a year ago after criticizing President Nicolas Maduro in a meeting with company leadership, the worker’s family said...
News

Executives from Exxon, other major U.S oil companies pledge support for Biden’s climate campaign

OilNOW -
(Bloomberg) Chief executives of some of the largest U.S. oil companies promised to collaborate with the Biden administration in its campaign against climate change during a meeting Monday with White House National Climate Adviser Gina McCarthy. The oil industry leaders...
Exploration

Will Guyana oil resources remain relevant as the energy transition takes hold?

OilNOW -
Whatever the pace of the energy transition, the world will still rely on oil and gas for much of its energy needs until well beyond 2040, according to research conducted by consultancy group Wood Mackenzie. "Exploration will be critical...
News

Guyana President tells summit country on cusp of economic explosion

OilNOW -
In an address that focused heavily on Guyana’s coming transformation, President of the new oil producing country Dr. Irfaan Ali told participants at the Guyana Basins Summit last week major strides in infrastructure and social services will see the...
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Staatsolie seals offshore deals with PETRONAS, Chevron for Suriname’s Blocks 9 and 10

Staatsolie Maatschappij Suriname N.V. signed Production Sharing Contracts (PSCs) for offshore Blocks 9 and 10 with PETRONAS Suriname E&P...

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