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Refineries shuttering operations as COVID-19 hits demand

OilNOW -
(S&P Global) Refineries in Europe and Africa have started shuttering operations as the coronavirus pandemic hits demand. South Africa's Engen refinery said late last week it had opted for a "temporary controlled shutdown", noting that the lower demand it is...
News

Oil drops more than 6% to 18-year low as global demand evaporates

OilNOW -
(CNBC) U.S. oil dropped to an 18-year low on Monday as demand continues to evaporate, and as Saudi Arabia and other OPEC+ nations prepare to ramp up production. With much of the world in lockdown as the coronavirus pandemic rages...
News

State capacity deficits put Venezuela among top 5 countries most vulnerable to COVID-19

OilNOW -
South American oil producer Venezuela is listed among the top 5 countries most vulnerable to the COVID-19 pandemic due to major deficiencies in the state’s capacity to tackle the disease. On Monday IHS Markit launched its COVID–19 Country Vulnerability Index,...
News

Chinese specialists arrive in Venezuela to combat coronavirus

OilNOW -
On Monday morning a HAINAN Airlines flight from Beijing arrived in the Venezuelan capital, Caracas, to deliver aid and transport several medical specialists to help fight the coronavirus (COVID-19) pandemic, according to a report on teleSUR. According to reports, the HAINAN...
Exploration

Global E&P CAPEX will reach 13-year low as COVID-19, price war persist – Rystad Energy

OilNOW -
Global capital expenditure (CAPEX) for exploration and production firms (E&Ps) is expected to drop by up to $100 billion this year, about 17% versus 2019 levels, under Rystad Energy’s updated base case scenario of $34 per barrel in 2020...
News

Guyana can learn from the Venezuelan crisis

OilNOW -
Venezuela provides a window to a dystopian future. The country’s neighbour to the east, Guyana, is developing its first offshore oil and gas finds made in the past five years. There’s a growing number of them; the 16th discovery...
News

Baker Hughes reports US drilling rigs drop by 44

OilNOW -
Baker Hughes’ latest Rig Count revealed that as at March 27, 2020 the count of active United States drilling rigs has dropped by 44 to 728 after falling by 20 one week earlier. In addition, the US active rig...
News

Conex Oil and Gas acquires Total’s Liberia and Sierra Leone businesses

OilNOW -
Liberia’s Conex Oil and Gas Holdings Limited (Conex) on Wednesday March 25, 2020 signed an agreement with Total to acquire Total Liberia and Total Sierra Leone, which are leaders in the importing and marketing of petroleum products throughout their...
News

Rosneft hands Venezuelan oil business to Russian state firm

OilNOW -
(AP) — Russia’s Rosneft oil company said Saturday that it’s halting operations in Venezuela and selling its assets there to a company fully owned by the Russian government, a move apparently intended to protect Russia’s largest oil producer from...
News

Low quality Guyana oil among list of Tullow’s 2019 disappointments

OilNOW -
Executive Chair of Tullow Oil PLC Dorothy Thompson reported the Board’s disappointment in the company’s operational and financial performance for 2019, saying that in 2020 the British oil and gas operator will work to rebuild the stakeholder trust that...
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NewsKemol King -

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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