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19 companies shortlisted for lifting Guyana’s Liza Crude

OilNOW -
South America’s newest oil producer, Guyana, is one step closer to hiring a firm to market its share of Liza Crude. The Department of Energy (DE) had issued an invitation for Expression of Interest in February 2020 which saw 34...
News

Total, partners ramp-up production at Brazil pre-salt with start-up of second FPSO

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Total and its partners have announced the start-up of the Floating Production Storage and Offloading (FPSO) P-70 of the Iara cluster (Block BM-S-11A), located in the deepwater Santos Basin pre-salt offshore Brazil. With a productive capacity of 150,000 barrels...
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Venezuela oil crisis deepens with India refiners halting imports

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India’s largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry, Bloomberg said in a report on Thursday. Reliance Industries Ltd, which runs the biggest refinery in the world in Jamnagar...
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Oil pricing agencies Platts, Argus launch new U.S. crude benchmarks

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(Reuters) - After U.S. crude futures took an historic plunge into negative territory in April, the two top oil price reporting agencies said on Thursday they will start new benchmarks reflecting the price of Gulf Coast-traded crude on tankers,...
Exploration

Norway tax relief to cut breakevens by 40%, boosting the country’s rig demand while the UK’s plunges

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A Rystad Energy assessment of the temporary tax relief package for the petroleum industry that Norway recently approved reveals that the move will improve exploration and production companies’ short-term liquidity and reduce breakeven prices for future development projects by...
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Setting up oil refinery in Guyana even less viable now from when study first done

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Since Guyana was told back in 2017 that setting up an oil refinery was too risky and will not be economically viable, the industry has been hit with severe challenges, some unforeseen, making such a prospect even less feasible...
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18 million barrels of Venezuelan oil stuck at sea under cloud of sanctions

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(Reuters) - Tankers carrying nearly two months’ worth of Venezuelan oil output are stuck at sea as global refiners shun the nation’s crude to avoid falling foul of U.S. sanctions, according to industry sources, PDVSA documents and shipping data. Washington...
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Elections 2020: Guyana’s final hurdle

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By Wazim Mowla | First published in Global Americans on June 11, 2020 It’s been more than three months since Guyana’s national and regional elections and the country is close to having a winner formally declared—after a transparent and credible...
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With contracts canceled and debts mounting, offshore oil drillers face another shakeout

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The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms, Reuters said in a report...
News

Global natural gas output set to fall by 2.6% in 2020

OilNOW -
The Covid-19 pandemic has landed a lasting blow to both oil and gas markets. Global oil production has absorbed the lion’s share of the impact, but natural gas output, which was previously set to grow, is also set to...
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Noble launches pre-qualification for offshore scaffolding services in Guyana

Noble Finance Company, an affiliate of Noble Corporation, has issued a Request for Information (RFI) to pre-qualify companies capable...

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