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Regulating the sale of Guyana’s crude oil lifts’ entitlement

Bobby Gossai, Jr. -
This provision is inevitably controversial because it provides for the parties not simply to overlift crude oil that may have been scheduled to be lifted by one party, but for the parties to take a party’s entitlement and sell...
Exploration

Total deploys oil rig to South Africa for rare frontier drilling

OilNOW -
(Bloomberg) –Total SA has deployed a rig to South Africa to look for more oil near a massive discovery, in a rare example of exploration in a frontier area. The Odfjell Deepsea Stavanger has left Bergen in Norway for the...
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Oil can help Guyana feed the region, become leader in renewables – UK High Commissioner

OilNOW -
British High Commissioner to Guyana, Greg Quinn, says the new oil producing country now has a real opportunity to use those revenues to strengthen its agriculture industry making it once again the breadbasket of the Caribbean, and perhaps even...
News

Rystad Energy warns 2nd COVID-19 wave could see oil demand losing another 2.5 million bpd

OilNOW -
As the number of confirmed new COVID-19 cases surges to new global highs of beyond 200,000 per day, a second wave of the pandemic is increasingly apparent in several countries – most notably in the United States. Modelling the...
News

Pirates grab nine Nigerians from BW Offshore FPSO

OilNOW -
At approximately 4:20 am local time on Thursday, BW Offshore’s FPSO Sendje Berge was subject to an attack by pirates offshore Nigeria in which nine Nigerian nationals were kidnapped. The company said the incident onboard the FPSO has ended and...
News

OPEC cuts production to 1991 levels in bid to revive oil demand

OilNOW -
(Bloomberg) - OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again. Saudi Arabia faithfully delivered the...
Exploration

Liza Crude could be ‘oil of choice’ as refiners seek lighter, sweeter blend

OilNOW -
The relaxing of COVID-19 lockdown measures is resulting in more vehicles taking to the roads and this is driving up the demand for lighter, sweeter oil which refiners need to produce gasoline. With a sulfur level of 0.51% and...
News

Exxon signals second quarterly loss in a row on production, refining hits

OilNOW -
(Reuters) - Exxon Mobil Corp’s oil and gas producing and refining businesses will report operating losses in the second quarter, it said in a regulatory filing on Thursday, setting the stage for the company to post another quarterly loss...
News

SBM Offshore secures US$600 million bridge loan for FPSO Sepetiba

OilNOW -
SBM Offshore on Wednesday announced the closure of a US$600 million bridge loan facility for the financing of the construction of FPSO Sepetiba, to be deployed in the Santos Basin offshore Brazil. The facility was secured by the special purpose company...
News

Business Chamber bids farewell to ExxonMobil Guyana President

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI) on Thursday bid farewell to President of ExxonMobil Guyana, Rod Henson, who will be leaving to take up a new post in Houston soon. GCCI members joined the event virtually at which...
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Guyana launches Global Student Exchange with EU & UG on health, oil and gas, engineering sectors

The European Chamber of Commerce Guyana (ECCG), in partnership with the European Union and the University of Guyana (UG),...

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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