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ExxonMobil’s Pioneer acquisition signals potential for strong growth in U.S. oil output

OilNOW -
In a notable move that may have significant implications for the future of U.S. oil production, ExxonMobil's recent acquisition of Pioneer Natural Resources for US$64.5 billion is drawing attention and praise. The deal, the largest in the upstream industry...
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QatarEnergy, Shell strengthen global partnership with 3.5 MTPA LNG deal

OilNOW -
QatarEnergy and Shell have cemented their partnership with the signing of two significant long-term LNG sale and purchase agreements (SPAs) for the supply of up to 3.5 million tons per annum (MTPA) of liquefied natural gas (LNG). The agreements...
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Ongoing Israel-Hamas conflict threatens regional natural gas market and Europe’s LNG supply

OilNOW -
The persistent conflict between Israel and Hamas, the Palestinian militant group, is casting a looming shadow over the regional natural gas market. This situation raises concerns about the potential repercussions for Europe's liquefied natural gas (LNG) supply as the...
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U.S. to add 6 million barrels more to strategic petroleum reserves by December 

OilNOW -
The U.S. Department of Energy has taken steps to acquire six million barrels of crude oil, scheduled for delivery between December and January, as part of its energy security strategy. Market reports suggest that the purchase contracts will be...
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Guyana’s hospitality sector gears up for 2,000-room demand surge amid oil and gas boom

OilNOW -
Guyana's hospitality industry is experiencing significant growth in tandem with its booming oil and gas sector, resulting in a surge of internationally branded hotels being constructed in and around the nation's capital, Georgetown - the epicenter of the oil...
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Exxon, partners to plug GY$800 million into “largest hydroponics project in Caribbean” – Pres. Ali

OilNOW -
A new hydroponic farming project initiative has been launched in Guyana - the largest in the Caribbean, according to President, Irfaan Ali with 300 young Guyanese being the beneficiaries.  The funding comes from the Greater Guyana Initiative (GGI) - a...
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China Merchant Heavy Industries selects TMC Compressors for SBM Offshore FPSO project

OilNOW -
China Merchant Heavy Industries (CMHI) has awarded a contract to TMC Compressors (TMC) to deliver a marine compressed air system for a new build production vessel being constructed for SBM Offshore. TMC will supply a large-capacity marine compressed air system,...
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“We are not going to weaken the PSA to suit ExxonMobil” – Jagdeo

Shikema Dey -
Guyana’s Vice President Bharrat Jagdeo said on Thursday that the government does not intend to alter its new production sharing agreement (PSA) to suit ExxonMobil - the lone producer offshore. The new terms do not apply to the Stabroek Block...
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Exxon was faced with a “drill or drop” decision regarding Kaieteur block – Routledge 

Shikema Dey -
ExxonMobil was faced with a “drill or drop” decision regarding Guyana’s offshore Kaieteur Block, says President of the local affiliate, Alistair Routledge.  On September 28, Exxon indicated that it was leaving the block. Another partner in the block - Hess,...
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Venezuela receives green light from U.S. for unrestricted oil exports over six-month period 

OilNOW -
The United States has announced the easing of sanctions on Venezuela after the government and opposition reached an agreement to have next year's election monitored by international observers. These sanctions relief measures will target Venezuela's oil, gas, and gold...
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Telesur and Orange expand subsea capacity to meet Suriname’s rising oil and gas demand

PARAMARIBO, SURINAME – Telecommunications provider Telesur and Orange Global Networks have entered a new ten-year agreement to expand Suriname’s...

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