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Equinor, Exxon and partners sanction US$8 billion project in Brazil

OilNOW -
Equinor (operator) and ExxonMobil, Petrogal Brasil and Pré-sal Petróleo SA (PPSA) have decided to develop phase one of the Bacalhau field in the Brazilian pre-salt Santos area. The investment is approximately 8 billion USD. “This is an exciting day. Bacalhau...
Exploration

Global exploration has more than 3 decades of life left – Guyana remains top destination

OilNOW -
Updated May 31, 2021 Major oil and gas explorers around the world expect at least three decades of exploration still to come and see this lasting beyond 2050 even as the global pandemic and slashed oil prices have caused companies...
Exploration

Guyana and Suriname have reached ‘developmental take-off speed’ – analysts

OilNOW -
Nestled on the north coast of South America, Guyana and Suriname are among the smallest of the countries on the continent. But with the discovery of multi-billion-barrel hydrocarbon resources, the economic prospects of these upcoming potential giants are among...
Exploration

Big oil not yet out for the count, says Platts in new analysis

OilNOW -
(S&P Global Platts) Global oil and gas producers, facing a pummeling from environmental activists and shareholders, can rely at least for a while on persistent oil demand and a need for their expertize and scale, even as pressure increases...
Exploration

Mid-Atlantic Oil & Gas plugs GY$10 million into Guyana flood relief efforts

OilNOW -
Heavy rainfall continues to affect regions across Guyana with severe flooding in several communities. Relief efforts have been ongoing in the areas affected and this is expected to continue in the coming days. Mid Atlantic Oil & Gas Inc. donated...
News

Guyana regulators internationally trained to measure crude lifts

OilNOW -
Guyana’s multi-billion-barrel hydrocarbon discoveries and the start of oil production operations have seen institutions playing catch up to monitor and regulate a sector that was practically non-existent prior to the 2015 world class Liza oil strike by ExxonMobil. Key to...
News

CNOOC enjoying rare success on global stage with Guyana oil finds

OilNOW -
China National Offshore Oil Corporation (CNOOC), one of the largest National Oil Companies (NOC) in China, is enjoying rare success on the global stage, with a 25% stake in the multi-billion-barrel Stabroek Block offshore Guyana. The NOC has interest in...
News

“Energy is life” says Total’s CEO Patrick Pouyanné as company adopts new identity

OilNOW -
At the Ordinary and Extraordinary Shareholders’ Meeting held on May 28, shareholders approved, almost unanimously, a resolution for Total’s name to change to TotalEnergies. The French oil major said the name change anchors its strategic transformation into a broad...
News

Hess anticipates expeditious approval for Yellowtail

OilNOW -
Stabroek Block co-venturer Hess Corporation says the application for its fourth development offshore Guyana at Yellowtail is going through an evaluation process that is expected to conclude before the end of the year with approval from the Guyana government....
News

Production capacity for Guyana floaters can increase 10-15%

OilNOW -
Chief Operating Officer (COO) for Hess Corporation, Greg Hill, recently disclosed that the Liza Destiny FPSO could be producing as much as 150,000 barrels of oil per day come 2022. The Hess official made this disclosure during his participation...
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Ali: Fighting transnational crime vital, protecting sovereignty is Guyana’s business

Guyana's President, Dr. Irfaan Ali made it clear today that protecting his country's sovereignty remains a top priority. The...

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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