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Half the world under ‘stay at home’ orders as COVID-19 cases surpass 1 million

OilNOW -
(S&P Global) At the conclusion of a difficult week, the world surpassed 1 million confirmed cases of coronavirus and the total global death toll neared 60,000. A new wave of infections prompted China and Singapore to reinstate lockdowns over...
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OPEC+ poker game on Monday: Russia holds better cards than Saudi Arabia

OilNOW -
A month after the last unproductive OPEC+ meeting and with COVID-19 slashing demand amid the ongoing price war, the US has managed to broker a new extraordinary meeting for oil-producing nations. Russia and Saudi Arabia will be back to the...
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Brazil’s Petrobras makes new oil discovery at Santos Basin

OilNOW -
Brazilian oil and gas company Petrobras said Thursday it has identified the presence of oil in the pioneer well of the Uirapuru block, located in the Santos Basin pre-salt. In a press release, the company said that the pioneer well,...
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Low O&G prices, COVID-19 will hit an already vulnerable TT hard – Ramnarine

OilNOW -
Former Minister of Energy and Energy Affairs of Trinidad and Tobago Kevin Ramnarine says that the Twin-Island Republic will be hit hard by the fall in oil and natural gas prices which is wreaking havoc in the energy market...
Exploration

Largest number of bankruptcy filings in modern history in play as US upstream industry braces for impact

OilNOW -
Whiting Petroleum this week opened the door of Chapter 11 filings but will not be the only company to cross that threshold. As the US upstream industry is heavily indebted, the current price environment is likely to create the...
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Tullow gets approval for $1.9 billion debt capacity

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Tullow Oil plc said Friday it has completed the bi-annual redetermination of its Reserves Based Lending (RBL) credit facility with $1.9 billion of debt capacity approved by the lending syndicate. As a result, the Group has c.$700 million liquidity...
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Over US$1.2M in royalty for NRF by month end…Liza production surpasses 1.7 million barrels in January

OilNOW -
Oil production from the Liza Phase 1 Development at Guyana’s Stabroek Block amounted to 1,745,930 barrels for the month of January which is equivalent to 56,320 barrels of oil per day. Guyana’s Ministry of Finance said on Thursday in its...
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Apache, Total make second discovery offshore Suriname

OilNOW -
Apache Corporation (NYSE, Nasdaq: APA) and Total S.A. (NYSE: TOT) on Thursday announced a significant oil discovery at the Sapakara West-1 well drilled offshore Suriname on Block 58. The well was drilled using the Noble Sam Croft with Apache as operator...
Exploration

Political turmoil, price uncertainty will delay FIDs in Guyana for months – Rystad Energy

OilNOW -
Political turmoil in South America’s newest oil producing nation Guyana, coupled with falling oil prices and the COVID-19 pandemic will delay Final Investment Decisions (FIDs) for offshore projects by several months, according to Norway-based energy research and business intelligence...
News

Around 25 million people could lose jobs globally as pandemic crushes economies, industries

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Measures to stem the COVID-19 pandemic have pushed the world’s largest economies into near-hibernation. While China shows early signs of re-emergence, the U.S. and Europe aren’t yet at the viral peak. Combined with a collapse in oil prices and...
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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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