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COVID-19 precautions ramped up as Liza Destiny FPSO continues to produce Guyanese oil

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Extensive measures remain in place and precautions are being taken to ensure the health and safety of personnel working onboard the 120,000 barrels per day Liza Destiny FPSO producing oil offshore the South American country of Guyana. SBM Offshore, the...
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Noble drill contracts shortened due to oil price, COVID-19 woes

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Noble Corporation says as a result of the oil price war and the global COVID-19 outbreak, its oil drilling contracts have been shortened, drill ships placed on standby and day rates slashed. The US drilling corporation has updated its drill...
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Norway says still willing to cut oil output if OPEC+ plan implemented

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(Reuters) - Norway, Western Europe’s largest oil producer, said on Saturday the country was still considering cutting oil production if the OPEC+ group implemented its plan. “How any potential output cut will be carried out by Norway, and the size...
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Record oil production cut hangs in balance as G20 meeting concludes with no specifics

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(CNBC) A record oil production cut hangs in the balance after energy ministers from the Group of 20 major economies on Friday agreed that stabilization in the market is needed but stopped short of discussing specific production numbers. “To underpin global...
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Guyana oil production in best position to weather global price storm

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As disruptions in the global oil and gas industry intensify as a result of oil price shocks and the COVID-19 pandemic, companies have been forced to slow down or stop operations altogether. While the co-venturers at Guyana’s Stabroek Block...
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Offshore drillers face up to $3 billion in contract cancellations – Rystad Energy

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The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling in particular is among the most affected industry segments. A Rystad Energy impact analysis estimates that drillers...
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CNOOC plans to cut 2020 investment by up to 15%

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(Reuters) - China National Offshore Oil Corp (CNOOC) will trim annual investment by 10% to 15% in 2020, while maintaining its goal of increasing domestic crude oil and natural gas production for the year, the company said in a...
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Canada leads global list of those in trouble, set to see above 1.1 million bpd halt

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The COVID-19 pandemic has devastated global oil demand triggering the start of shut-ins at operations around the world, led by Canada. A Rystad Energy analysis shows that Canada is the oil producer most affected so far, with the damage estimated...
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JPMorgan wants to dump sovereign fund loans from Saudi Arabia, UAE

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(Reuters) - JPMorgan is seeking to sell at a discount loans raised by the sovereign wealth funds of Saudi Arabia and the United Arab Emirates, according to two sources and a document cited by Reuters, as banks brace for...
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OPEC, allies agree to slash production by 10 million barrels per day

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(Bloomberg) - Major oil producers agreed to slash output as feuding members of the OPEC+ coalition buried differences in an effort to lift the market from a pandemic-driven collapse. The Organization of Petroleum Exporting Countries and its allies, meeting by...
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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