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Lankhorst bags mooring lines contract for 2nd Guyana FPSO

OilNOW -
Leading deepwater mooring rope manufacturer, Lankhorst Offshore, said it has been awarded a contract by SBM Offshore to supply the mooring lines for the Liza Unity Floating Production Storage and Offloading (FPSO) for ExxonMobil’s Liza oil field offshore Guyana. This...
Exploration

Virus delays oil exploration offshore Bahamas

OilNOW -
(Tribune Business) An oil explorer has delayed the drilling of its first well in Bahamian waters until late May/early June to ensure the coronavirus crisis does not cost it “millions of dollars”. Simon Potter, the Bahamas Petroleum Company’s (BPC) chief...
Exploration

Tullow writes off Jamaican oil exploration licence

OilNOW -
(The Gleaner) Tullow oil Plc has fully written off its oil exploration licence for the Walton-Morant Basin offshore Jamaica, on which it has taken a US$36-million hit. The write-off relates to what the company indicated in its most recent earnings report...
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...
News

China’s CNOOC to load first cargo of Guyanese oil soon

OilNOW -
(Reuters) China's state-controlled oil company CNOOC Ltd is scheduled to load in the coming days its first cargo of crude from Guyana's offshore Liza oil project, the South American country's Director of Energy Mark Bynoe said. CNOOC has a 25%...
News

Guyana should aim to produce 2 to 3 million barrels of oil per day ‘as quickly as possible’ – Mangal

OilNOW -
President and CEO of oilfield services company TOTALTEC, Lars Mangal, says if Guyana is to truly benefit from what he calls the closing window of opportunity due to the rise of renewable energy, oil production must be ramped up...
Exploration

Oil Field Service companies under threat as E&P budgets face massive cuts

OilNOW -
The total capital and operational expenditure of exploration and production companies (E&Ps) is now likely to be cut by $100 billion in 2020 and another $150 billion in 2021 if oil prices remain at a $30 level, a Rystad...
News

Oil prices on track for biggest weekly fall in four years

OilNOW -
(Reuters) - Oil prices slumped to their lowest in more than a year on Friday and were set for their steepest weekly fall in more than four years as the spread of the coronavirus stokes fears of slowing global...
News

Oil falls for fifth day on demand concerns as coronavirus spreads

OilNOW -
(Reuters) - Oil prices fell for a fifth day on Thursday to their lowest since January 2019 as a growing number of new coronavirus cases outside of China fuelled fears of a pandemic which could slow the global economy...
Exploration

One vital corner of oil market is surging despite coronavirus

OilNOW -
(Bloomberg) A closely watched North Sea oil-price indicator is reflecting little of the demand destruction that the coronavirus has wrought on global markets. Brent crude futures for April, the most immediate contract, are trading 61 cents a barrel higher than...
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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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