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Low-carbon operations will become key asset, Exxon out front with tech

OilNOW -
Carbon capture and storage, (CCS) clean hydrogen and floating offshore wind are all low-carbon technologies that are on the cusp of mass commercialisation and where the oil and gas sector could achieve leadership and massive scale. Keen to ensure...
News

Operator spend in oil and gas sector to surpass US$400 billion this year – WoodMac

OilNOW -
Consultancy group Wood Mackenzie says the oil and gas sector will continue to rebound this year, with operator spend expected to surpass US$400 billion and higher prices driving another year of record cash flow. Global supply chain disruption, labour...
News

Exxon’s strategy of testing deeper targets at Stabroek Block delivering big results

OilNOW -
The recent discoveries announced by ExxonMobil off the Guyana coast confirm the significant resource potential that exists at deeper targets on the 6.6 million acres Stabroek Block. The Fangtooth and Lau Lau wells delivered a cumulative 479 feet of high-quality...
Exploration

Brazil looking to tap oil at same geologic trend delivering big discoveries in Guyana

OilNOW -
Brazil's state-run oil company Petrobras will begin exploration this year at a resource-rich region along the country’s northern coast that falls in the same geologic trend containing the massive offshore discoveries made in neighboring Guyana. According to Petrobras reservoir executive...
News

U.S. responding to soaring natural gas prices with major supply ramp up

OilNOW -
By Ed Crooks - Vice-Chair, Americas at Wood Mackenzie “We have furnished the British great material support and we will furnish far more in the future. There will be no ‘bottlenecks’ in our determination to aid Great Britain.” President Franklin...
News

CNOOC’s Bohai is now the largest oil field in China

OilNOW -
(Reuters) - China's offshore oilfield cluster Bohai, run by state-run CNOOC Ltd., has become the country's largest crude oil producer with output hitting 30.132 million tonnes (602,640 barrels per day) in 2021, state news agency Xinhua reported. Bohai field, off...
News

Oil prices not likely to rise above $100/bbl this year for any sustained period – WoodMac

OilNOW -
U.K. based consultancy group Wood Mackenzie says it is unlikely that oil prices will rise above $100 a barrel (bbl) for any sustained period in this year. “Under the careful stewardship of OPEC+, the market is back in balance again...
Exploration

Analysis points to massive Guyana basin oil resources, huge production estimates

OilNOW -
An analysis written by The Value Portfolio, published on crowd-sourced content service provider Seeking Alpha says Guyana is a game-changer and is defining a new era for ExxonMobil with current discovered assets touching almost 11 billion barrels stretched across...
Exploration

Barreleye, Tilapia could deliver more pay at Guyana’s largest block

OilNOW -
The Noble Don Taylor is continuing exploration drilling operations at Barreleye-1 situated approximately 90.87 nautical miles (167.98 kilometers) offshore Guyana at the ExxonMobil-operated Stabroek Block, covering an area of 0.29 square nautical miles. Meanwhile, the Stena Carron will be engaged...
News

Organisers moving forward with February energy conference in Guyana

OilNOW -
Organisers of the International Energy Conference and Expo slated to be held next month in Georgetown, Guyana say they have noted the increase in COVID-19 cases in the South American country and will be taking all precautions in keeping...
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NewsKemol King -

Chevron CEO hails Hess deal as 2025’s biggest U.S. merger, bets on lasting oil demand

Mike Wirth, Chief Executive Officer of Chevron, defended the company’s oil-first strategy in a recent interview with the New...

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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