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Oil hits 5-month high just days ahead of Guyana’s 3rd lift

OilNOW -
Just days ahead of Guyana lifting its third million-barrel oil cargo, Reuters said in a report on Wednesday oil prices rose to their highest since early March after U.S. crude inventories fell sharply and the dollar weakened. However, mounting...
News

Oil tanker SKS SPEY will lift Guyana’s 3rd million-barrel oil cargo this weekend

OilNOW -
Norwegian flag-carrier SKS SPEY will lift the third million-barrel oil cargo for Guyana this weekend. OilNOW understands the vessel is in a waiting area ahead of lifting the crude from the Liza Destiny FPSO. Guyana lifted its first million-barrel entitlement...
News

Venezuela supreme court approves extradition request to Italy for ex-oil czar

OilNOW -
(Reuters) - Venezuela’s supreme court said on Friday it had approved a request to Italy for the extradition of Rafael Ramirez, a once powerful oil minister and former head of state oil company Petroleos de Venezuela, on corruption charges. Authorities...
News

Oil trading profits soar for energy majors who made storage bets

OilNOW -
(Bloomberg) –In March and April, as oil prices plunged to their lowest in a generation, Norwegian energy giant Equinor ASA was busy doing the opposite of what oil companies usually do: pumping as much crude as possible underground into...
News

Oil prices slip as clouds gather over fuel demand, looser supply curbs

OilNOW -
(Reuters) - Oil prices edged lower on Friday, with trading marked by growing uncertainty about global recovery in fuel demand as new COVID-19 cases surge in several countries just as major producers get set to loosen production curbs. Brent crude...
News

Guyana oil field equipment expenditure to hit peak in 2022 on FPSO demand

OilNOW -
The largest component of forecast offshore Oil Field Equipment (OFE) expenditure will be fixed and floating production equipment, totalling $139 billion, bolstered by activity in Latin America, particularly Guyana, where regional expenditure on the floating platform sector is set...
News

U.S. turns screws on maritime industry to cut off Venezuela’s oil

OilNOW -
(Reuters) - Several companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as the United States targets the maritime industry to tighten sanctions on the Latin American country. U.S....
News

Crucial aspects of Guyana’s oil & gas development on back burner as election impasse drags on

OilNOW -
The South American country of Guyana entered 2020 with great expectations for a bright future as oil production got underway last December and an upgrade in the offshore Stabroek Block resource estimate was announced in January along with the...
News

Apache extends Noble Sam Croft contract for Suriname campaign

OilNOW -
Apache Corporation, operator at Block 58 offshore Suriname, has extended its contract for the Noble Sam Croft drillship by executing an option for another well. The contract initially expired in June, prior to which the Sam Croft made two discoveries...
News

Iran will develop oil industry despite U.S. sanctions

OilNOW -
(Reuters) - Iran is determined to develop its oil industry in spite of U.S. sanctions imposed on the country, Iranian Oil Minister Bijan Zanganeh said in a televised speech on Saturday. “We will not surrender under any circumstances ... We...
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Latest News

NewsShikema Dey -

Major energy and infrastructure projects to define Guyana’s next few years

Over the next few years, President Irfaan Ali’s second term will see Guyana advancing key projects that place energy...

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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