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Pirates grab nine Nigerians from BW Offshore FPSO

OilNOW -
At approximately 4:20 am local time on Thursday, BW Offshore’s FPSO Sendje Berge was subject to an attack by pirates offshore Nigeria in which nine Nigerian nationals were kidnapped. The company said the incident onboard the FPSO has ended and...
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OPEC cuts production to 1991 levels in bid to revive oil demand

OilNOW -
(Bloomberg) - OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again. Saudi Arabia faithfully delivered the...
Exploration

Liza Crude could be ‘oil of choice’ as refiners seek lighter, sweeter blend

OilNOW -
The relaxing of COVID-19 lockdown measures is resulting in more vehicles taking to the roads and this is driving up the demand for lighter, sweeter oil which refiners need to produce gasoline. With a sulfur level of 0.51% and...
News

Exxon signals second quarterly loss in a row on production, refining hits

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(Reuters) - Exxon Mobil Corp’s oil and gas producing and refining businesses will report operating losses in the second quarter, it said in a regulatory filing on Thursday, setting the stage for the company to post another quarterly loss...
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SBM Offshore secures US$600 million bridge loan for FPSO Sepetiba

OilNOW -
SBM Offshore on Wednesday announced the closure of a US$600 million bridge loan facility for the financing of the construction of FPSO Sepetiba, to be deployed in the Santos Basin offshore Brazil. The facility was secured by the special purpose company...
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Business Chamber bids farewell to ExxonMobil Guyana President

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI) on Thursday bid farewell to President of ExxonMobil Guyana, Rod Henson, who will be leaving to take up a new post in Houston soon. GCCI members joined the event virtually at which...
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Hundreds of Guyanese businesses accessing CLBD’s online training courses

OilNOW -
Hundreds of Guyanese businesses are benefitting from a wide range of online training courses being offered by the Centre for Local Business Development (CLBD) as COVID-19 restrictions continue to prevent indoor sessions from being conducted. Since its establishment in 2017,...
News

World will still rely on oil and gas for much of its energy needs beyond 2040 – WoodMac Analysts

OilNOW -
In keeping with the goal of the Paris Agreement which calls for a limit to the increase in global temperatures to below 2 degrees Celsius by 2040, countries have begun the transition to renewable forms of energy. In the...
News

Guyana remains cautious of Dutch disease even as oil takes GDP to an “impressive” 5.4 percent

OilNOW -
Following its latest assessment of the economy’s performance for the year 2019, the Government of Guyana has stated in its End of Year Outcome Report that the country’s Gross Domestic Product (GDP) grew to an “impressive” 5.4 percent. The...
Exploration

High performance from Guyana as 2020 half-year discoveries hit lowest in 100 years

OilNOW -
Global discoveries of conventional resource volumes reached just 4.9 billion barrels of oil equivalent (boe) in the first half of 2020 with Guyana among just a few countries that recorded success during the period. Rystad Energy says this represents the...
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Guyana's Oil LedgerKemol King -

ExxonMobil Guyana produced 841,000 barrels of crude per day in October

ExxonMobil Guyana’s offshore oil production averaged 841,000 barrels per day (b/d) in October across the four producing Stabroek Block...

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