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Oil could struggle to top $70 as U.S. output offsets OPEC cuts: Reuters poll

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(Reuters) - Oil prices are unlikely to advance much higher than $70 a barrel in 2018, with the market caught between the opposing forces of OPEC-led production cuts and surging U.S. output, a Reuters poll showed on Wednesday. The survey...
News

The death spiral of Venezuela’s oil sector and what can be done about it

OilNOW -
(Forbes) The Venezuelan oil sector is on a death spiral despite having one of the largest resource endowments in the world. According to its report to OPEC, Venezuela’s production was 1.62 million barrels per day (b/d) in December 2017, a...
News

Guyana Shorebase to hire hundreds more ahead of first oil

OilNOW -
As discussions continue in the public domain over the availability of jobs, the protection of local content and opportunities to be made available in Guyana’s embryonic oil and gas sector, one of ExxonMobil’s contractors is gearing up to commence...
News

U.S. oil industry set to break record, upend global trade

OilNOW -
(Reuters) - Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. And...
News

Big oil looks on as Italian giant completes ‘mission impossible’

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(Bloomberg) The fact even senior managers privately described the plan as “Mission Impossible” showed the scale of the task: Italian energy giant Eni SpA wanted to produce gas from the Zohr field little more than two years after finding it in...
News

Placing contract in public domain is ‘fantastic step in right direction’ – Brasington

OilNOW -
Placing the petroleum agreement between Guyana and ExxonMobil affiliate Esso Exploration and Production Guyana Limited in the public domain is a step in the right direction and provides a basis for healthy conversation about what it contains. This is the...
News

UTEC secures major deal from Liza subsea contractor TechnipFMC affiliate

OilNOW -
UTEC, a global survey company in subsea services group Acteon said it has won a contract from Technip Oceania Pty Ltd, part of TechnipFMC in Australia, to provide survey and positioning services on the Greater Enfield Project, offshore Western...
News

OPEC’s moves to determine fate of oil markets in 2018

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After a volatile 2017, oil markets turn towards 2018 and the topics that will dominate the next 12 months. Below Stratas Advisors sorted the risks into four main topics that its analysts predict will dominate the 2018 news cycle. What...
News

Major FPSO contract lifts Drydocks World

OilNOW -
(Maritime Standard) The Dubai-based shipyard, Drydocks World, has secured a significant piece of new business. The company has announced that it has signed a contract with SBM Offshore to carry out the construction of the turret mooring system for...
News

Where to refine Guyana oil still under active discussion – Trotman

OilNOW -
A decision has not yet been made by the Guyana government as to where the South American country will refine its share of oil when production begins in 2020. Responding to questions on Friday from the media about where Guyana...
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SBM sponsors international trips, science equipment for winners of Guyana mousetrap competition

SBM Offshore Guyana’s 2025 Guyana-Monaco Mousetrap Car Grand Prix Competition wrapped up with an impressive display of creativity, problem-solving...

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