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Brazil soars to China’s No. 3 crude oil supplier in September

OilNOW -
(Reuters) - Brazil jumped to China’s third-biggest crude oil supplier in September, import data showed on Sunday, as China’s independent refiners scooped up cheap supplies of the South American exporter’s relatively high-quality oil. Imports from Brazil hit 4.49 million tonnes,...
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Russian oil tanker hit by fire, explosion in Sea of Azov

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The General Hazi Aslanov oil tanker was hit by a fire and explosion in the Sea of Azov on Saturday, Russian federal agencies reported. According to S&P Global Platts, the tanker was empty at the time, according to the Krasnodar...
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Guyana will see increased migration inflows, demand for electricity and housing – IDB

OilNOW -
The start of oil production in Guyana will see more people migrating to the South American country in coming years contributing to a significant increase in the demand for electricity, housing, and other supporting infrastructure. In its recently released paper...
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Several imported equipment and supplies required for petroleum operations in Guyana are duty-free – GRA

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The Guyana Revenue Authority said on Friday that based on the Petroleum Agreement between the Government and ExxonMobil affiliate Esso Exploration and Production Guyana Limited, contractors and sub-contractors are permitted to import a number of equipment and supplies duty-free...
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Several attempts made since 2019 to offload cargo from Venezuelan tanker threatening to spill crude

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The Venezuelan ship - FSO Nabarima - with more than 1 million barrels of crude has been immobilized and anchored in the Gulf of Paria in northeastern Venezuela since January 2019. State-owned oil company PDVSA has not been able to...
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Payara deepwater contract helps deliver strongest quarter for TechnipFMC

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TechnipFMC said this week it was able to deliver its strongest operational results in the third quarter of 2020 mainly due to notable projects in Norway and South America, including a major contract awarded by ExxonMobil for its Payara Development...
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North American oil and gas bankruptcy debt to blow past US$100 billion

OilNOW -
The impact of the coronavirus pandemic continues to take its toll on the global oil and gas industry with North America being particularly hard it. Mounting bankruptcies will see associated debt running into billions of dollars surpassing the previous...
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Norway’s BW Offshore moves to liquidate owner of New Zealand FPSO

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Norway-based BW Offshore said Thursday the Board of Directors of its subsidiary BW Umuroa Pte. Ltd. has taken a decision to place BWU, the owner and operator of the FPSO Umuroa, into voluntary liquidation. The FPSO Umuroa is presently...
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Unity, Prosperity FPSOs targeting lower carbon intensive production

OilNOW -
Dutch floater specialist SBM Offshore, the builder and operator of the Liza Destiny FPSO currently producing oil offshore Guyana, is moving ahead with technological advancements that will see lower carbon intensive vessels being built, including those targeting additional developments...
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Deepwater projects are big winners as average breakeven price drops to US$50 per barrel – Rystad Energy

OilNOW -
A comprehensive analysis by Norway-based Rystad Energy of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10% over the last two years, and 35%...
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Guyana hits record three-quarter million barrels of oil per day

Total offshore production from Guyana’s Stabroek Block has hit over 700,000 barrels of oil per day, President of ExxonMobil...

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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