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TechnipFMC slashes 2020 CAPEX by US$150 million

OilNOW -
TechnipFMC plc (NYSE: FTI) (Paris: FTI) said Wednesday it remains focused on taking all necessary steps to ensure the health and well-being of its employees, contractors and partners, and it is taking decisive actions in response to the current...
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Saudis boost oil output in defiance of Trump’s plea to end price war

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(Bloomberg) Saudi Arabia showed no sign of bowing to pressure from U.S. President Donald Trump to dial back its oil-price war with Russia. Instead, the kingdom pushed crude supply to record levels. Trump said Tuesday night that he’d spoken to...
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Guyanese engineers install subsea production assets for Liza Phase 1

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A team of Guyanese Engineers, working as Remotely Operated Vehicle (ROV) Pilots / Technicians for Offshore Innovators (Guyana) Inc. (OIG), have successfully supported the installation of their country’s first ever subsea field, making first oil possible at ExxonMobil’s Liza...
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Eco Atlantic says it remains fully funded for Guyana offshore as operations slow down

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Eco (Atlantic) Oil & Gas Ltd. said on Wednesday in light of the COVID-19 pandemic, the company continues to take all of the recommended measures to protect the welfare of its personnel. “Ensuring the safety of employees remains a major priority...
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Carter Center: A high-stakes election in Guyana

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(The Carter Center) On March 2, citizens of Guyana went to the polls for what the country was calling “the mother of all elections.” Every election is important, of course, but this one was deemed especially so because five years...
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Gas sector impacted by triple whammy of coronavirus, oil price crash and LNG oversupply – WoodMac

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In its latest short-term gas and LNG outlook report, Wood Mackenzie weighs the risks coronavirus, sustained low oil prices and LNG oversupply pose to the sector this year. “While the collapse of LNG prices towards US production break-evens was foreseeable,...
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No job loss in coming months – BP chief tells staff in ‘global town hall’

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The CEO of BP Plc Bernard Looney has promised the workers of the British oil and gas major that its response to the novel coronavirus does not include making any staff redundant over the next three months. Writing in a...
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Worst oil demand contraction ever recorded in the making

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With billions of people worldwide under some form of lockdown, oil demand may fall as much as 20 million b/d at some stage this year, the International Energy Agency's Executive Director, Fatih Birol, said last week. The massive collapse in...
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EITI to foster greater transparency in implementing states amidst COVID-19

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Chair of the Extractive Industries Transparency Initiative (EITI) International Board Helen Clark said as the world reels from the COVID-19 pandemic, the Secretariat recognises the challenges it will bring on EITI implementing countries whose economies may take a hit...
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Shell expects to book up to US$800 million in impairment charges as oil tumbles

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Based on changes to its oil price outlook for 2020, Anglo-Dutch oil major Shell said on Tuesday its post-tax impairment charges for the first quarter are expected to be in the range of US$400-800 million, as the impact of...
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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...

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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