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“We need more Guyanas, a lot more, and we need them soon” – Wood Mackenzie

OilNOW -
UK-based energy consultancy group Wood Mackenzie says the warning signs are everywhere – “the industry isn’t finding enough oil.” The analyst, in a new report, said Guyana is one of the very few locations in the world where giant...
News

Explorers identify 22 prospects on Orinduik Block with some having over 30% chance of success

OilNOW -
Explorers at the 1,800 km2 Orinduik Block offshore Guyana have identified 22 prospects including 11 leads in the Upper Cretaceous horizon, the majority of which have over a 30 percent or better chance of success. This is enhanced by the...
News

Oil falls for fifth day on demand concerns as coronavirus spreads

OilNOW -
(Reuters) - Oil prices fell for a fifth day on Thursday to their lowest since January 2019 as a growing number of new coronavirus cases outside of China fuelled fears of a pandemic which could slow the global economy...
News

Global oil & gas prices set to fall short of earlier forecasts as coronavirus spreads – Rystad Energy

OilNOW -
As China’s coronavirus epidemic continues to expand and more countries are affected, the slowdown in global oil and gas consumption this year will hit suppliers who will see average prices fall below previous expectations, according to Rystad Energy’s revised...
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Guyana seeking firm to market Liza Crude

OilNOW -
Guyana’s Department of Energy (DE) has put out a request for Expressions of Interest (EOI) from companies looking to provide marketing services to the country for its share of crude from the Liza Phase 1 Development. The duration of services...
Exploration

Not all discoveries are developed, success not guaranteed – Bernstein analyst

OilNOW -
An analyst at private wealth management company, Bernstein, says offshore exploration and production activities, including campaigns in the Guyana-Suriname basin where US oil major ExxonMobil has made 16 discoveries since 2015, remain risky since many projects do not make...
Exploration

One vital corner of oil market is surging despite coronavirus

OilNOW -
(Bloomberg) A closely watched North Sea oil-price indicator is reflecting little of the demand destruction that the coronavirus has wrought on global markets. Brent crude futures for April, the most immediate contract, are trading 61 cents a barrel higher than...
News

Over 2,000 Saipem employees now working from home in Italy on coronavirus fears

OilNOW -
Saipem, in concert with employer and worker organisations, has been forced to act immediately to ensure the maximum safety of its employees, customers and suppliers, in compliance with the initial indications issued by Italy’s Ministry of Health and regional...
News

Exxon hits 15-year low prior to new strategy roll-out

OilNOW -
(Bloomberg) - Exxon Mobil fell to a 15-year low on Monday just over a week before CEO Darren Woods is scheduled to present the oil explorer’s long-term strategic plan to investors and analysts. The shares have been under pressure since...
News

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...
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Latest News

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More Guyanese technicians graduate from FacTor training program 

SBM Offshore Guyana’s Trainee Technician program churned out another 24 Guyanese graduates, who are now one step closer to...

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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