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Largest oil supply surplus in history about to hit global market

OilNOW -
The largest oil supply surplus the world has ever seen in a single quarter is about to hit the global market from April, creating an imbalance of around 10 million barrels per day (bpd). An exclusive Rystad Energy analysis...
News

Stabroek Block operations could be affected due to COVID-19 disruptions – ExxonMobil

OilNOW -
The impact of the coronavirus (COVID-19) outbreak globally continues to impact the oil and gas industry and could see operations at Guyana’s Stabroek Block slowing down as ExxonMobil grapples with travel restrictions which is affecting the movement of personnel...
News

Exxon, contractors step up measures in Guyana to confront COVID-19 threat

OilNOW -
As the spread of the coronavirus (COVID-19) continues globally, measures are being put in place in Guyana to ensure the safety and health of those working in support of the offshore activities at the Stabroek Block where US oil...
News

Suriname’s Maka well can bring US$50M per year in revenue

OilNOW -
The Maka Central-1 discovery has the potential to bring more than US$50m in revenue per year to the Surinamese Government if it sees similar success to Guyana’s Stabroek, according to leading data and analytics company GlobalData. Gregory Bosunga, Oil and Gas Analyst...
News

Total boss tells staff it will cut spending and freeze recruitment

OilNOW -
(Reuters) - French oil major Total (TOTF.PA) will freeze recruitment, boost costs savings and halt its share buyback programme due to tumbling oil prices, chief executive Patrick Pouyanne told staff in a video message on Thursday, according to a...
News

China’s CNOOC to load first cargo of Guyanese oil soon

OilNOW -
(Reuters) China's state-controlled oil company CNOOC Ltd is scheduled to load in the coming days its first cargo of crude from Guyana's offshore Liza oil project, the South American country's Director of Energy Mark Bynoe said. CNOOC has a 25%...
Exploration

Guyana future uncertain as election woes deepen and coronavirus devastates global economy

OilNOW -
Guyana ended 2019 on the high note of a new oil producer and with the 16th discovery announced at the Stabroek Block off the country’s coast in January, hope for the future has been at an all time high....
News

As much as 3 million barrels per day of extra oil can hit the market from April

OilNOW -
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd is what OPEC+ countries are realistically able to add next month based...
Exploration

Stabroek co-venturer CNOOC makes ‘large-sized’ discovery in China

OilNOW -
CNOOC Limited said on Monday that it has made a large-sized discovery Kenli 6-1 in Bohai Bay, which is expected to be the first large-sized oil filed in Laibei lower uplift. The Kenli 6-1 structure is located in Laibei lower...
News

CARICOM team exits Guyana as election crisis deepens

OilNOW -
A high-level team from regional body CARICOM which arrived in Guyana over the weekend to supervise a full recount of votes has withdrawn after a person associated with the incumbent APNU+AFC coalition party secured an injunction from the court...
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GCCI aiming to push MSMEs toward global competitiveness at 2025 Business Development Forum

The Georgetown Chamber of Commerce and Industry (GCCI) will host its annual Business Development Forum (BDF) on November 13...

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