Production

News

Oil higher as hopes build for production cut amid coronavirus threat to demand

OilNOW -
(Reuters) - Oil rose on Tuesday amid hope that the world’s biggest producers of crude will agree to cut output as the coronavirus pandemic crushes demand, even as analysts warn a global recession may be deeper than expected and...
Exploration

“We do not see Exxon turning off the taps in Guyana” – Rystad Energy

OilNOW -
The fall in oil prices triggered by the Saudi Arabia-Russia price war and the COVID-19 global pandemic has resulted in a number of oil and gas companies readjusting their 2020 exploration and production programmes. US oil major ExxonMobil said...
Exploration

Coronavirus pushes oil towards the abyss

OilNOW -
The crude oil market is staring into an abyss. The challenges are physical – dealing with extreme oversupply – and financial, with market participants from wellhead to forecourt under severe duress. Ann-Louise Hittle and Alan Gelder, who, respectively, lead...
Exploration

Political turmoil, price uncertainty will delay FIDs in Guyana for months – Rystad Energy

OilNOW -
Political turmoil in South America’s newest oil producing nation Guyana, coupled with falling oil prices and the COVID-19 pandemic will delay Final Investment Decisions (FIDs) for offshore projects by several months, according to Norway-based energy research and business intelligence...
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

Global oil demand could collapse by over 16 million bpd in April

OilNOW -
Global oil demand is expected to take the biggest hit in the month of April falling by nearly 16 million barrels per day (bpd) year on year, representing almost a 16% drop. Rystad Energy said this downgrade takes into...
News

COVID-19, political instability could restrict Guyana’s growth and stall oil investments

OilNOW -
The International Monetary Fund (IMF) says commodity exporters in South America will face all round lower export revenues as a result of the COVID-19 pandemic both from the drop in prices and reduction in export volumes, especially to China, Europe...
Exploration

How will the oil price crash hit the upstream sector?

OilNOW -
(Wood Mackenzie Analysis) The coronavirus outbreak has derailed OPEC+, thrown the oil market into turmoil and sent an already unloved sector into freefall, setting in motion a chain of events that led to the biggest fall in the oil price...
News

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

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...
1...242526...36Page 25 of 36

Latest News

NewsOilNOW -

Guyana stands out globally; will maintain cost competitiveness despite expected drop in future oil prices – Norway firm

South America's newest oil producer, Guyana, continues to stand out as a highly competitive destination for deepwater projects around...

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.

Quick Access

Company Info

Social Networks