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Richard Miller tapped as Tullow’s new permanent CFO

OilNOW -
Tullow Oil Thursday named its interim Chief Financial Officer (CFO) Richard Miller as permanent CFO and an Executive Director effective January 1. The company said Miller brings extensive oil and gas and financial experience to the role. He has been...
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Guyana in play as explorers go after 100 giant prospects targeting 36 billion boe

OilNOW -
Exploration and production (E&P) companies are going after high-impact prospects in effort to capitalise on recent high demand for oil and natural gas, caused by re-organising energy markets. Wood Mackenzie said, in Global Exploration: 5 things to watch in 2023,...
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Petrobras CEO departs to join state gov’t, new lead to be announced soon

OilNOW -
Petrobras is set to announce a new Chief Executive Officer (CEO) after its current lead Caio Mário Paes de Andrade departs to serve in the incoming administration of the governor of Brazil's São Paulo state. The move comes ahead of a...
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The People’s Perspective: Opinions on Guyana’s landmark Gas-to-Energy project

OilNOW -
Seen as potentially transformative, the Gas-to-Energy project is progressing with hopes of cheaper and more reliable power for Guyanese. For many, this opens a world of opportunities as the country has one of the highest costs of electricity in the Caribbean and...
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Early delivery of Payara pushing Exxon 2023 CAPEX budget

OilNOW -
Chief Financial Officer for ExxonMobil Corporation, Kathryn Mikells, said that the early delivery of the Payara project is the cause of the spike in ExxonMobil’s 2023 CAPEX budget. The company recently reaffirmed its commitment to spend over US$100 billion in...
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Global energy crisis forcing more “measured approach” to financing fossil fuels – WoodMac

OilNOW -
The ongoing energy crisis has caused investors to rethink financing for fossil fuels. According to Consultancy Group, Wood Mackenzie, the more measured approach accounts for real-world constraints on global financial institutions and corporations in making long-term financing and capital...
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Oil block auction opens for South America’s high-value basin, 25 billion barrels at stake

OilNOW -
Guyana President Dr. Mohamed Irfaan Ali announced the opening of the country’s first competitive offshore bidding, early Friday morning, offering “25 billion potential barrels” to entrants. The round will be open until April 14, 2023. Evaluations and negotiations will follow,...
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Stabroek Block PSA terms enable mega projects at industry-leading standard- stakeholder

OilNOW -
While Guyanese authorities are criticised for the "generous" fiscal terms in the Stabroek Block Production Sharing Agreement (PSA), those very terms are being recognised for unlocking what is now the most low-cost, high-return resource base of the decade. Speaking at the ...
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WoodMac expects NOCs to play key role in Guyana, other vital deepwater basins

OilNOW -
Global research group, Wood Mackenzie expects national oil companies (NOCs) to maintain their dominant role in the future, particularly in vital deepwater basins such as Guyana, Mexico, Brazil, and Gabon. Mexico has PEMEX, Brazil has Petrobras, and Gabon has the Gabon...
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UK approves first new coal mine in 30 years

OilNOW -
The United Kingdom administration has granted permission for the start-up of a deep coal mine project in the northwest of England. This is the first coal project to receive the government’s blessings in 30 years. Project documents note that the Woodhouse Colliery mine...
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Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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