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Venezuela moves to seize shipping agents’ assets over debts to PDVSA: sources, document

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(Reuters) - Venezuela’s judiciary has moved to seize the assets of six private shipping agencies over debts to state oil company Petroleos de Venezuela (PDVSA) , according to a document seen by Reuters and two people with knowledge of...
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Chevron plans $80B in dividends as shale production ramps up

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(Bloomberg) - Chevron plans as much as $80 billion in dividends and share buybacks over the next five years, boosting distributions by 20% compared with the most recent pace of payouts as the U.S. oil giant ramps up production...
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Guyana election is pivotal point in country’s outlook – Remi Piet

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Senior Director of Americas Market Intelligence (AMI), political analyst Remi Piet said Guyana’s general and regional elections which took place on Monday in the South American oil producing nation could be a close one to call. Piet said the elections...
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Ampelmann bags first Guyana project with SBM Offshore for Liza Destiny FPSO

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Ampelmann has added Guyana as a new market to its global portfolio. In a contract with Dutch floater specialist SBM Offshore, the company assisted the hook-up and commissioning of the FPSO Liza Destiny, currently spread moored offshore Guyana producing...
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Hope for action from OPEC, central banks halts oil’s freefall

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(Bloomberg) --Oil rebounded from its worst week since 2008 as the world’s central banks sought to stabilize financial markets, while hopes grew that OPEC+ will deepen output cuts following the coronavirus outbreak. Futures rose as much as 4.4% in New...
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Tanker owner says to end shipping of Rosneft’s Venezuelan oil

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(Reuters) - Mercantile & Maritime said on Monday it would terminate its shipments of Venezuelan oil for Rosneft after the United States imposed sanctions on the Russian oil firm’s Swiss trading unit. Washington imposed sanctions in February on Rosneft’s Geneva-based...
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Exxon looking to move ahead with 4th development at Stabroek Block

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ExxonMobil, operator at the 6.6 million acres Stabroek Block offshore Guyana is looking to move ahead with its fourth development in the South American country at the Hammerhead field. This latest development will follow the Liza Phase 1 and...
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Coronavirus will delay FPSO deliveries, postpone US$30B in investments – Rystad Energy

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Out of a global total of 28 floating production, storage and offloading (FPSO) vessels that are under construction, 22 are being built at shipyards in China, South Korea and Singapore. Rystad Energy expects the outbreak of the coronavirus disease...
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Brazil to close Caracas Embassy in bid to further isolate Maduro

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(Bloomberg) Brazil plans to withdraw its diplomatic personnel from Venezuela in the latest attempt to increase the isolation of the government of Nicolas Maduro, a senior official said. The official, who’s directly involved in the process but isn’t allowed to...
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OPEC+ could push for 1 million bpd reduction as virus bites

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(Wood Mackenzie) A week ago, the World Health Organisation reported that there had been about 77,000 cases of COVID-19, the disease caused by the new coronavirus, in 27 countries. On February 28, the WHO said the number of cases...
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Guyanese-American welder returns home to train 500+ Guyanese for oil and gas jobs 

For Mohamed Ally, welding is more than sparks and steel; it is legacy work. After more than four decades...

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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