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Exxon expects better first-quarter earnings as oil prices climb

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(Reuters) - Exxon Mobil Corp expects rising first-quarter results across its three major businesses, with an at least $2 billion improvement from prices for oil and gas driving profits, the company signaled in a securities filing on Wednesday. The largest...
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Stena expanding regional presence as IceMAX arrives in Mexico

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Just weeks after the Stena DrillMAX sailed into Guyana waters to join the Stena Carron offshore the South American country, the IceMAX has arrived in Tampico, Mexico for an upcoming project with Repsol. Stena Drilling announced the arrival of the...
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U.S oil sanctions on Venezuela close to ‘tipping point’ as massive diesel shortage looms

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(S&P Global Platts) US oil sanctions on Venezuela could reach a tipping point this summer if a dire diesel shortage further exacerbates a humanitarian crisis that continues to unfold even as President Nicolás Maduro has strengthened his hold on...
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GCCI elects new council, President to be determined in a week

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The Georgetown Chamber of Commerce & Industry (GCCI) hosted its 131st Annual General Meeting (AGM) via the Zoom and Elections Runner digital platforms today. During the course of this exercise, the election of a new council was undertaken. “I would...
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Liza Destiny FPSO gas compressor start-up targeted for this week

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ExxonMobil Guyana said on Tuesday teams of experts are making final preparations for start-up of the flash gas compressor this week on the Liza Destiny Floating Production Storage and Offloading (FPSO) vessel, in order to restore the flare to...
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Local content consultations wrap up with participation from over 180 agencies, firms

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The Ministry of Natural Resources (MNR) said on Tuesday that it has concluded a series of strategic engagements with various stakeholders in Guyana on the revised draft Local Content Policy (LCP). MNR said this policy initiative responds to commitments made...
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‘Level of negativity to oil industry in Guyana has always surprised me’ – Ramnarine

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Trinidad and Tobago’s (T&T) former Minister of Energy and Energy Affairs, Kevin Ramnarine, says he has been visiting Guyana frequently over the last five years and the one key thing that has always surprised him is the level of...
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Bourbon mobilizing 3 more vessels for major Guyana deepwater operations

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Marine Services provider, Bourbon Offshore, is mobilizing three more vessels for its operations offshore the new oil producing country of Guyana. “We now have two on long term contracts with the major operator, and with these three with a...
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Robots could replace hundreds of thousands of oil and gas jobs, save billions in drilling costs by 2030 – Rystad Energy

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Even when the pandemic downturn is finally past us, operators will have to continue exploring new avenues for cost reductions to be better equipped to withstand future market declines. In a report that looked into the adoption of robotics...
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Maduro wants to pay for coronavirus vaccines with oil

OilNOW -
(Reuters) - Venezuelan President Nicolas Maduro on Sunday proposed paying for vaccines against the novel coronavirus with oil, though he provided few details about how such a scheme would work. The crisis-stricken OPEC nation’s crude exports have plummeted to their...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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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