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ExxonMobil posts US$7.7B in first-quarter earnings amid market pressures

OilNOW -
Today, ExxonMobil reported first-quarter earnings of US$7.7 billion, down from US$8.2 billion in the same period last year. The company said the decline was mainly due to weaker industry refining margins, lower crude prices, strategic divestments, and higher expenses...
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CNOOC Q1 output up 4.8% year-on-year to 188.8 million boe

OilNOW -
China’s CNOOC Limited reported this week that its oil and gas production rose 4.8% year-on-year to 188.8 million barrels of oil equivalent (boe) in the first quarter of 2025, underpinned by stronger domestic output. In its first quarter report released...
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bp awards contract for Ginger project to Subsea 7 and SLB OneSubsea

OilNOW -
Subsea 7 announced that the Subsea Integration Alliance (SIA) has secured the engineering, procurement, construction, and installation (EPCI) contract for bp’s Ginger project, offshore Trinidad and Tobago. The Ginger award is the first under a new global framework agreement between...
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Guyana says World Court ordered Venezuela not to conduct elections in Essequibo territory

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Guyana said Thursday that the International Court of Justice (ICJ) has ordered Venezuela not to conduct or prepare to conduct elections in the resource-rich Essequibo region, which is administered by Guyana but claimed by its western neighbor. President Irfaan Ali...
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Venezuela’s oil comeback possible but only with a normalized environment – Rystad Energy 

OilNOW -
Saudi Arabia is expected to anchor the next decade of global oil supply. But Venezuela’s uncertain future remains a critical variable that could disrupt a tightening and increasingly concentrated energy landscape, according to a recent Rystad Energy report.  Venezuela holds...
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Hess sees steep drop in quarterly earnings, bringing in US$430M

OilNOW -
Hess Corporation posted net income of US$430 million, or US$1.39 per share, for the first quarter of 2025. This marks a sharp decline from US$972 million, or US$3.16 per share, in the same period last year. On an adjusted basis,...
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Gas to take spotlight at upcoming Suriname Energy Summit as region expands ambitions

OilNOW -
Gas will be taking center stage at this year’s Suriname Energy Oil and Gas Summit (SEOGS) set for June 17 - 20. According to the SEOGS website, a pre-summit gas masterclass and technical sessions will focus on gas supply,...
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Guyana’s Gas-to-Energy project wins Deal of the Year at EXIM 2025 Conference

OilNOW -
The Export-Import Bank of the United States (EXIM) has awarded its prestigious Deal of the Year Award to the Guyana Gas-to-Energy Project at the 2025 annual conference, the institution announced on April 30.  The winning collaboration includes Lindsayca, CH4 Systems,...
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New oil spill bill places full liability on companies for damages and clean-up 

OilNOW -
Oil companies operating in Guyana would be liable for all damages caused by an oil spill incident they cause, including the costs of removal and the restoration of the environment as far as practicable, under proposed legislation tabled in...
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Noble secures 15 rig years in offshore contracts, cites strength of long-term market

OilNOW -
Noble has secured new offshore contracts with a combined value between US$2.2 billion and US$2.7 billion, the company announced on April 28. The company stated that the contracts add 15 rig years to its floater backlog and significantly increase...
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TechnipFMC mobilizes first subsea 2.0® tree from Guyana for Uaru development

TechnipFMC marked a key milestone for its configure-to-order Subsea 2.0® platform, which has benefited from its global talent pool....

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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