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Guyana COVID-19 Situational Report

Bobby Gossai, Jr. -
COVID-19 has now spread to 189 countries/regions around the world with over 5 million confirmed cases and more than 350,000 deaths. The oil & gas industry continues to be heavily impacted on all fronts as falling demand and geopolitical ambitions...
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2019 was ‘most successful year’ for discoveries; Guyana added big volumes – IEA

OilNOW -
Oil and gas exploration spending has been on a consistent downward trend in recent years, with only a slight bump in 2019. With investment budgets under renewed pressure this year, the share of exploration spending in total investment may...
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IEA says the coronavirus crisis has set in motion the largest drop of global energy investment in history

OilNOW -
The International Energy Agency believes the coronavirus pandemic has paved the way for the largest decline of global energy investment in history, with spending set to plummet in every major sector this year, CNBC said in a reported on...
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US oil output set to bottom out in June, will not recover to pre-COVID-19 levels in 2021- Rystad Energy

OilNOW -
US oil production, which has steeply declined as low prices forced shut-ins, will reach a bottom of around 10.7 million barrels per day (bpd) in June, a two-year low, Rystad Energy estimates, before it starts to slowly recover. Still,...
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Massive investment in infrastructure needed as Guyana oil development grows – Energy Director

OilNOW -
The more than 8 billion barrels of oil equivalent resources discovered so far offshore Guyana represents oil found in just a portion of the 6.6 million acres Stabroek Block. With multiple targets remaining both at Stabroek and other blocks...
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COVID-19 spreads to multiple offshore installations in Brazil

OilNOW -
Norway’s Equinor ASA and Anglo-French firm Perenco are among at least five oil producers that have registered coronavirus cases among employees or contractors at facilities off the coast of Brazil, industry and regulatory sources told Reuters on Tuesday. Royal Dutch...
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Oil-starved Venezuela celebrates arrival of tankers from Iran

OilNOW -
(New York Times) An oil tanker called “Fortune” has sailed into Venezuela from Iran, the first of five ships expected to arrive in a nation so starved of gasoline that the docking of a single tanker was hailed on...
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Guyana publishes Royalty Statement for close to US$5 million cash payment received

OilNOW -
Authorities in Guyana have published the Royalty Statement for the almost US$5 million cash payment the country has received in royalty from oil produced and sold in the first quarter of 2020. This adds to the US$54,927,994.80 deposited into the NRF account...
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Guyana’s second million-barrel oil cargo en route to Aruba

OilNOW -
Bahamas flag carrier Sonangol Namibe which is carrying Guyana’s second million-barrel oil cargo is headed for the island of Aruba in the southern Caribbean Sea. The oil tanker departed Guyana waters on Thursday May 21, after loading its cargo from the Liza...
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‘Advantaged deepwater oil’ in places like Guyana will progress – WoodMac

OilNOW -
The oil price crash has hit the upstream sector hard with deep cuts being made across the board and will have a dramatic impact on the industry’s project pipeline with almost all pre-Final Investment Decision projects being deferred says...
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Ali names 25-member cabinet; Vickram Bharrat back at oil ministry

President Irfaan Ali of Guyana unveiled 25 ministerial Cabinet appointees on Saturday evening, as the government embarks on its...

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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