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Team led by Harvard Professor helping Guyana shape landmark development plan

OilNOW -
Hess Corporation’s Chief Executive Officer (CEO), John Hess on Thursday said his company and ExxonMobil Corporation are genuinely interested in seeing Guyana becoming a success story with its massive oil wealth. It is for this reason the two companies...
News

“We have the best cash flow story in the business” says Stabroek Block co-venturer

OilNOW -
After years of strategic investments behind exploration and development efforts in Guyana’s Stabroek Block, Hess Corporation declared 2022 as the year it reaps the billion-dollar rewards of its patience and labour. According to its Chief Executive Officer (CEO), John Hess at...
News

Vessels operating offshore Guyana must now have Seafarers’ Employment Agreement onboard – MARAD

OilNOW -
Guyana’s Maritime Administration Department (MARAD) says with effect from January 5, 2022, all seagoing vessels over 24 metres in length are required to have a copy of the Seafarers’ Employment Agreement, for each seafarer, on board. The MARAD notice, directed...
API

Fangtooth-1 unlocks new play; will ‘add significantly’ to 10-billion-barrel oil resource – Hess

OilNOW -
While the recent Fangtooth-1 discovery augments the list of over 20 significant finds in the Stabroek Block by operator ExxonMobil, its value should not be overlooked or underappreciated, says Hess Corporation’s Chief Executive Officer (CEO), John Hess. During Goldman Sachs’...
News

Guyana seeking consultancy firm to review Yellowtail Field Development Plan

OilNOW -
The Government of Guyana is inviting highly qualified consultancy firms to submit technical and financial proposals for the review and evaluation of ExxonMobil’s Field Development Plan (FDP) for its US$9B Yellowtail Project which is targeting 250,000 barrels of oil...
API

Ali gov’t gave clear instructions for oil pursuit to be cost effective, environmentally friendly, says Hess CEO

OilNOW -
While both President, Dr Irfaan Ali and Vice President, Dr. Bharrat Jagdeo have categorically stated that Guyana has a right to develop its oil resources for the benefit of its people, it has no intention of allowing the Stabroek...
News

FPSO contracts surge; Guyana contributing to global total this year – Rystad Energy

OilNOW -
The market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic’s effect in 2021 and is likely to continue apace in 2022, with 10 new awards expected, according to a Rystad Energy report. Two lease...
Exploration

Argentina movng forward with offshore drilling despite protests

OilNOW -
(S&P Global Platts) Argentina plans to push forward on its first new offshore exploration drilling in years despite social protests, a government official said Jan. 6, arguing that the dangers of spills are low, and that oil and natural...
News

Exxon’s latest discoveries add to 26 commercial finds in Guyana – oil minister

OilNOW -
The two oil discoveries announced by ExxonMobil on Wednesday add to 26 commercial finds in Guyana which the Ministry of Natural Resources said will further strengthen the South American country’s position as a major new oil and gas hotspot. Exxon...
News

Oil slips from highest level in a month as U.S. stockpiles surge

OilNOW -
(Reuters) - Oil prices lost ground on Thursday, falling from their highest levels in more than a month after U.S. fuel stockpiles surged amid declining demand. The global benchmark Brent crude futures fell 63 cents, or 0.8%, to $80.17 a...
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Latest News

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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