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Oil falls below $40 on doubts early OPEC+ meeting will go ahead this week

OilNOW -
(Reuters) Oil prices erased gains on Wednesday, with Brent crude futures falling back below $40 a barrel, on doubts an early meeting of some of the world’s most powerful oil producers will go ahead as planned. OPEC and non-OPEC allies,...
News

OPEC+’s talks for short extension to cuts leave oil prices flat

OilNOW -
(Bloomberg) The oil market took an initially neutral view on OPEC+ deliberations that could result in the producers group announcing a short extension to unprecedented output curbs. Futures in New York were virtually unchanged near $35 a barrel. The Organization of Petroleum...
Opinions

Options for Guyana’s crude oil disposition

Bobby Gossai, Jr. -
Crude oil to be produced from an Exploitation Area shall be taken and disposed of in accordance with the rules set out in the agreed lifting procedures. Arguably, this is the best and the hardest option. It presupposes that...
News

A big deal: Transparency in Guyana’s booming oil sector

OilNOW -
A note from the Extractive Industries Transparency Initiative Recent oil discoveries looked certain to transform Guyana’s economy. But the oil price shock could alter Guyana’s expected windfall and prospects of becoming a leading oil-producing nation. Faced with the repercussions of Covid-19,...
Opinions

Considerations for an oil and gas lifting agreement for Guyana

Bobby Gossai, Jr. -
In offering an exploration opportunity in a block, the motivation of the government largely is to encourage investment in the form of exploration activities, such as shooting seismic and exploration drilling. The prime objective of the oil company is...
News

Oil climbs as Guyana lifts its second cargo, narrows search for marketing firm

OilNOW -
Oil futures rose this week pushing both Brent and WTI contracts to around 2 ½ month peaks as new oil producer Guyana lifted its second 1 million barrels of crude from the ExxonMobil-operated Stabroek Block where production began last...
News

Aquaterra gets Trinidad & Tobago platform contract

OilNOW -
UK-based Aquaterra Energy, a global offshore engineering solutions provider, has been awarded the FEED (Front End Engineering and Design) contract by DeNovo Energy for a second Sea Swift platform to be located in the Zandolie field, off of the...
Exploration

Factbox: Oil and gas industry delays repairs amid virus lockdown

OilNOW -
(Reuters) - The coronavirus pandemic has disrupted maintenance at oil and gas projects and refineries from Russia’s Far East to the coast of Canada, storing up problems for an industry already reeling from slumping prices, analysts say. Below is a...
News

Brent at one-month high, U.S. oil tops $30 as restrictions ease

OilNOW -
(Reuters) - Oil prices climbed by more than $1 a barrel on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30 supported by optimism about the re-opening of economies and output cuts by major producers. Brent...
News

Early project approvals will shield Guyana from further reductions in oil revenues – AMI experts

OilNOW -
The COVID-19 pandemic and decline in oil prices are causing major economic disruptions to crude producers around the world forcing them to adjust their projected revenue inflows downward as lockdown measures continue to curtail demand. Americas Market Intelligence (AMI) experts...
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Latest News

NewsKemol King -

GUYANA ELECTIONS: Ali secures second term; opposition party granted recount in District 4 

Guyana’s governing People’s Progressive Party/Civic (PPP/C) won another term in Monday's general elections, according to results published by the...

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