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Liza Phase 1 rapid start-up good news for oil industry – Wells Fargo

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From discovery in 2015 to start of oil production less than five years later, the rapid start-up of the Liza Phase 1 Development is good news for the global oil industry says a senior analyst at US multinational financial...
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Oil holds near three-month high as U.S. crude stockpiles shrink

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Oil held gains near the highest close in over three months after U.S. crude stockpiles declined more than expected, Bloomberg reported on Monday. Futures were little changed in New York after capping a fourth weekly advance on Friday, the longest...
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Average crude oil prices could be lower in 2020 due to rising inventories

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The U.S. Energy Information Administration expects average crude oil prices will be lower in 2020 than in 2019 because of rising inventories. Outside the United States, production is expected to continue to grow in Brazil, Norway, and in Guyana...
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South America leads for planned and announced FPSOs

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South America has the highest number of planned and announced floating production storage and offloading (FPSO) additions globally between 2019 and 2025, with 27 projects. This is followed by Africa, Asia and Europe with a respective 15, eight and...
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Crude settles in black after large US draw

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(S&P Global) Crude futures settled higher Friday after the US Energy Information Administration reported a large draw in US crude oil inventories. An uptick in refinery demand weighed on US crude oil inventories last week, extending their decline for a...
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Liza Crude could break into US Gulf Coast, European markets – S&P Global

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With an API of 32.1 degrees and sulfur content of 0.510 percent, the crude now being produced at the Liza Phase 1 Development offshore Guyana could see interest from buyers on the US Gulf Coast and those in locations...
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Brazil’s oil, natural gas output soars to record high in November

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(S&P Global) Brazilian crude and natural gas production soared to a fresh record high in November as oil output topped 3 million b/d for the first time ever in Latin America's largest producer, the country's National Petroleum Agency, or...
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‘Green’ Christmas pageant provokes Canada oil worker outrage

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(France 24) In a Canadian oil industry town, schoolchildren singing about Santa's sleigh going electric and images of Rudolph the reindeer with a fluorescent bulb for a nose has provoked a backlash. Parents who work in Canada's struggling oil sector...
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Shell to buy Guyana’s first three oil lifts, provide critical refinery information

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Following a series of meetings with bidders—including ExxonMobil, Hess, CNOOC, and Total among other big operators in the oil industry—for Guyana’s first three lifts of crude entitlement, Shell Western Supply and Trading Limited has emerged as the buyer. Guyana’s first...
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Breakthrough technology behind ExxonMobil unprecedented success in Guyana

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Nearly 50 years ago, ExxonMobil pioneered a technology called 3-D seismic imaging, which uses sound waves to form three-dimensional images of geologic formations. These images have become the industry standard for understanding subsurface geology and finding oil and gas...
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Guyana journalists explore the geopolitics of energy, climate change in pivotal three-day workshop

A three-day workshop on the Geopolitics of Energy and Climate Change in Latin America concluded on Sunday at Cara...

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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