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Equinor makes Monument oil discovery at US Gulf of Mexico

OilNOW -
Norwegian multinational oil, gas and renewable energy company Equinor and co-venturers Progress Resources USA Ltd and Repsol E&P USA Inc. have encountered oil in the Monument exploration well in the US Gulf of Mexico. Equinor said on Monday the Monument...
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Latin American growth to take major hit in 2020

OilNOW -
The spread of coronavirus, drop in commodity prices, tighter external funding conditions and falling domestic financial asset prices will weaken economic growth in Latin America substantially this year, Fitch Ratings says. This follows several years of persistently weak economic...
News

Soldiers protecting last drops of gasoline in Venezuela

OilNOW -
(Bloomberg) -- The few gasoline stations still open in Caracas are manned by armed soldiers, and those waiting to fill their vehicles in day-long lines are only security personnel and designated medical and food suppliers. Under coronavirus quarantine like most...
News

Oil higher as hopes build for production cut amid coronavirus threat to demand

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(Reuters) - Oil rose on Tuesday amid hope that the world’s biggest producers of crude will agree to cut output as the coronavirus pandemic crushes demand, even as analysts warn a global recession may be deeper than expected and...
News

Oil ends lower as producers delay a key meeting, feeding uncertainty over potential output cuts

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(Market Watch) Oil futures ended lower on Monday, with the U.S. benchmark posting a loss of 8% after a key meeting of major crude producers, including Saudi Arabia and Russia, was tentatively shifted to Thursday, amid rising tensions between...
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Russia, Saudi Arabia very close to an oil deal – Russia’s wealth fund chief

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(CNBC) Russia and Saudi Arabia are “very, very close” to a deal on oil production cuts, according to the chief executive of Russia’s sovereign wealth fund RDIF. “I think the whole market understands that this deal is important, and it will bring lots of stability,...
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Fugro forced to implement hiring, salary freeze as impact of COVID-19 deepens

OilNOW -
Dutch engineering company Fugro said on Monday it is taking appropriate measures during the COVID-19 pandemic to keep its employees, partners and clients safe and healthy while ensuring service delivery. Current market conditions have forced the company to implement...
Exploration

“We do not see Exxon turning off the taps in Guyana” – Rystad Energy

OilNOW -
The fall in oil prices triggered by the Saudi Arabia-Russia price war and the COVID-19 global pandemic has resulted in a number of oil and gas companies readjusting their 2020 exploration and production programmes. US oil major ExxonMobil said...
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Suriname must begin discussion on coming oil money – Staatsolie CEO

OilNOW -
Mr Rudolph Elias, CEO of Suriname state oil company Staatsolie Maatschappij Suriname N.V., says with the second significant oil discovery at Block 58 offshore Suriname by Apache Corporation and Total, it is of the utmost importance that a national...
Exploration

Coronavirus pushes oil towards the abyss

OilNOW -
The crude oil market is staring into an abyss. The challenges are physical – dealing with extreme oversupply – and financial, with market participants from wellhead to forecourt under severe duress. Ann-Louise Hittle and Alan Gelder, who, respectively, lead...
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Europe took all of Guyana’s Golden Arrowhead oil cargoes lifted in September

Europe received all four cargoes of Golden Arrowhead crude oil lifted from ExxonMobil’s Yellowtail project in September, according to...

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