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Oil tanker captain killed in Pirate Attack off Venezuela

OilNOW -
Reports indicate that on Monday, armed robbers boarded the tanker San Ramón at an anchorage off Isla Borracha, Venezuela, and killed the vessel's master in an altercation. According to a report in The Maritime Executive, the victim has been identified by Venezuelan...
News

Oil sinks on CDC warning of impending virus outbreak in US

OilNOW -
(Bloomberg) -- Oil deepened a three-day rout as panic over a coronavirus outbreak in the U.S. gripped investors and sent shockwaves through commodity, equity and debt markets. Futures fell 3% in New York to the lowest level in more than two weeks....
News

Guyana did not pay a ‘fee’ to lift its first 1 million barrels of oil; cargo sold directly to shell

OilNOW -
The first one million barrels of profit oil allotted to Guyana was sold directly to Shell Western Supply and Trading Limited and as such did not attract a ‘lifting fee’. Responding to queries from OilNOW on the cost associated with...
News

Price stability will have greatest impact on Guyana oil revenue – Robert McNally

OilNOW -
The revenue Guyana receives from development of its multi-billion barrel oil resources offshore will be ultimately determined by price stability in the oil market which an expert in the industry says is largely dependent on there being a swing...
News

Saipem employees in Italy ‘stay at home’, missions abroad canceled over coronavirus fears

OilNOW -
With reference to the confirmed cases of CoronaVirus (Covid-19) to date on Italian territory and in particular in Lombardy, Saipem said today “it has immediately activated itself to guarantee maximum health and safety for its employees, customers and suppliers,...
Exploration

Stabroek oil bonanza is key driver in Noble contract coverage

OilNOW -
The unprecedented oil discoveries to date and multiple exploration targets that remain on Guyana’s prolific Stabroek Block are driving up the need for more drillships and this is playing a key role in the improvement of contract coverage for...
News

Guyanese manpower company gets international certification

OilNOW -
A 100 percent Guyanese-owned manpower services company has acquired Maritime Labor Convention (MLC) 2006 certification even as it moves to provide human resources not only to the offshore oil and gas operations in Guyana, but also to countries in...
News

‘Boatload of discoveries’ offshore Guyana signals more to come – Geoscientist

OilNOW -
Since 2015, Guyana has gone from having no known oil resource to a massive 8 billion plus barrels of oil equivalent with 16 discoveries at the giant Stabroek Block, 2 at the adjacent Orinduik Block and 1 at Kanuku. All...
News

Guyana will be subject to vagaries of oil market…country must prepare – Ramnarine

OilNOW -
Former Minister of Energy and Energy Affairs of Trinidad and Tobago Kevin Ramnarine has proffered some advice to the South American nation of Guyana where ExxonMobil and its joint venture partners HESS and CNOOC have just commenced oil production. His...
News

Guyana production on path to rival OPEC top guns

OilNOW -
It is estimated that by the mid-2020s to 2030, oil production in Guyana could hit 750,000 barrels per day but this figure may ‘underestimate the country’s production’ the American Security Project (ASP) has said. ASP said unlike other recent discoveries...
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Improvements in infrastructure, productivity pushing Guyana’s non-oil GDP – IMF

Guyana’s oil sector is projected to account for a slightly smaller share of the country’s economy in 2025 for...

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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