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Oil dips over delta variant concerns

OilNOW -
(S&P Global Platts) Crude oil futures fell in mid-morning trade in Asia on August 2 amid concerns over the resurgent spread of COVID-19, after the weekend brought a slew of reports of rising cases in China and parts of...
News

India’s oil minister opens bid round, Exxon among investors invited to tap huge potential

OilNOW -
(S&P Global Platts) India's oil minister Hardeep Singh Puri opened the bid phase of the third round of Discovered Small Fields (DSF-III) on July 30 and invited foreign investors like BP and ExxonMobil to tap huge potentials offered by...
News

Exxon makes another major oil discovery offshore Guyana

OilNOW -
ExxonMobil announced on Wednesday that it made a discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high-quality oil-bearing sandstone reservoirs. Drilling is also ongoing at the...
News

Oil falls by $1 amid fuel demand concerns

OilNOW -
(Reuters) - Oil prices fell $1 on Monday as concerns about fuel demand caused by the spread of COVID-19 variantsas well aschanges to import rules in China offset expectations of tight supplies through the rest of the year. Brent crude...
News

New awards boost Suriname’s potential as major oil producing country, says Rystad Energy

OilNOW -
The results of Suriname’s keenly watched shallow-water licensing round where three of the eight offered blocks were awarded to international big-name companies will soon lead to a flurry of activity off the country’s coast. One block was awarded to Chevron...
Opinions

Effective Guyana-Suriname cross-border oil spill response crucial to region

OilNOW -
By Dr. Lee Hunt – OilNOW On April 20, 2010, a critical failure of hydrocarbon containment occurred on the BP Macondo well 65 kilometers offshore the coast of Louisiana in the US Gulf of Mexico.  The event unfolded entirely within...
News

Oil prices take biggest one-day hit since March after OPEC+ agreed to boost output

OilNOW -
(Reuters) - Oil slumped more than $5 a barrel on Monday, headed for its worst day since March, after OPEC+ agreed to boost output, stoking fears of a surplus as rising COVID-19 infections in many countries threaten demand. Crude oil's...
News

Suriname oil wells show excellent properties similar to Guyana, says GlobalData

OilNOW -
Recent exploratory success offshore Suriname, where four discoveries have been made in Block 58 in 2020, shows promise to become an oil production hot spot in the near to mid-term, according to GlobalData. The data and analytics company noted...
News

Oil prices slip as new poll shows COVID-19 cases rising in 69 countries

OilNOW -
(Reuters) - Crude futures slipped on Monday as concerns over slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled. Brent crude for September fell 73 cents, or 1%,...
News

1 million barrels of Guyanese oil en route to India’s Paradip refinery

OilNOW -
Indian Oil Corporation Ltd. (IOC) has become the first Indian PSU refiner to buy a tanker load of Liza Crude from Guyana. One million barrels of oil from the South American country is now en route to India as...
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Latest News

NewsShikema Dey -

Timothy Ramkissoon: From first hire to leadership at TechnipFMC

When Timothy Ramkissoon joined TechnipFMC in 2017, oil and gas activities in Guyana were now picking up. “My story is...

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