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ExxonMobil acquires 50% stake in Suriname block from Petronas

OilNOW -
Malaysian oil and gas company Petronas through its subsidiary, Petronas Suriname Exploration & Production B.V. (PSEPBV), has completed the farm-down of 50 percent of its participating interest to ExxonMobil Exploration and Production Suriname B.V. (ExxonMobil) from a 100 per cent...
News

Global oil and gas contract activity reports downtrend – GlobalData

OilNOW -
The global oil and gas industry has witnessed a significant slowdown in the number of oil and gas contracts and contract value, which is largely attributed to the decline in crude oil prices and reduced demand amid the COVID-19...
News

Guyana energy department beefing up human resource capacity

OilNOW -
Guyana’s Department of Energy (DE) is looking to engage the services of several specialists as it continues to build capacity and acquire the expertise needed to effectively manage the country’s emerging oil and gas industry. DE Director Dr. Mark Bynoe...
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Brent at one-month high, U.S. oil tops $30 as restrictions ease

OilNOW -
(Reuters) - Oil prices climbed by more than $1 a barrel on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30 supported by optimism about the re-opening of economies and output cuts by major producers. Brent...
Exploration

Stabroek Block: Discovery Highlights

OilNOW -
ExxonMobil initiated oil and gas exploration activities in Guyana in 2008, collecting and evaluating 3-D seismic data that led to the company safely drilling its first exploration well in 2015. The 6.6 million acres (26,800 square kilometers) Stabroek Block is located...
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Iran warns US against disrupting fuel shipments to Venezuela

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(Al Jazeera) Iran's foreign minister on Sunday warned the United States against deploying its navy in the Caribbean to disrupt Iranian fuel shipments to Venezuela. According to an oil shipment analyst, five Iranian-flagged tankers loaded with tens of millions of...
News

Early project approvals will shield Guyana from further reductions in oil revenues – AMI experts

OilNOW -
The COVID-19 pandemic and decline in oil prices are causing major economic disruptions to crude producers around the world forcing them to adjust their projected revenue inflows downward as lockdown measures continue to curtail demand. Americas Market Intelligence (AMI) experts...
News

Cash transfers for the needy – Chatham House Expert

OilNOW -
When implementing cash transfers from oil, Chatham House expert, Dr. Valerie Marcel, firmly asserts that great caution needs to be taken. During an interview with OilNOW, Dr. Marcel categorically stated that it should not be done across the board....
News

Liza Unity first Fast4Ward® hull moves into dry-dock

OilNOW -
WATCH VIDEO - SBM Offshore’s first Fast4Ward® hull for the Liza Unity FPSO project moves into the Keppel FELS dry-dock. During this phase, the mooring structures are integrated, and the first topsides modules are lifted onto the vessel. https://youtu.be/T1-vecN-gcg
News

Petrobras looks to China’s ‘teapots’ to keep oil exports flowing

OilNOW -
(Reuters) - Brazil’s state-run Petrobras sees no need for cuts in oil production, executives say, as the market for its crude remains robust in China, while domestic demand for fuel picks up amid social distancing fatigue in Latin America’s...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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