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Hess plugs over three-quarter billion dollars more into Guyana offshore operations

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Hess Corporation on Monday announced its 2021 Exploration & Production capital and exploratory budget of $1.9 billion with more than 41% allocated to offshore developments in Guyana where the company has a 30% stake in the prolific Stabroek block. CEO...
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Baker Hughes expanding digital capabilities, reducing emissions in new order with Petrobras

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Baker Hughes said on Friday an order has been confirmed with Petrobras to provide a suite of digital solutions across the state oil company’s sites in Brazil. The order, booked in the fourth quarter 2020, will further expand Petrobras’...
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2020 was costliest year in history for oil company bankruptcy filings

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The combined debt of North American Exploration & Production (E&P) and oilfield service companies that filed for Chapter 11 bankruptcy protection last year jumped to $102 billion, surpassing the $100 billion mark for the first time, a Rystad Energy...
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Guyana sends note of protest to Venezuelan authorities over detention of fishing vessels

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Guyana’s Minister of Foreign Affairs, Hugh Todd, on Monday transferred a protest note to the Venezuelan government over an incident that occurred on January 21, 2020 which resulted in Guyanese fishing vessels being intercepted and detained by the Venezuelan...
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Liza Destiny FPSO among top 5 highest scoring vessels for safety in SBM Offshore’s global fleet

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The Liza Destiny Floating Production Storage and Offloading (FPSO) vessel which is producing oil offshore the South American country of Guyana is among the top five highest scoring units for safety in SBM Offshore’s global fleet. The Dutch floater specialist,...
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Guyana accounts for US$15 billion in deepwater sanctioning since 2019

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Global consultancy group Wood Mackenzie says it expects another year of around US$300 billion in upstream development spend, down 30% on pre-crisis levels and 60% below 2014’s US$750 billion peak. Deepwater spend has been underpinned by US$50 billion in...
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BP delivers first gas cargo to customers in China

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British multinational oil and gas company bp said on Monday that it has begun to directly supply gas customers in China with gas from liquefied natural gas (LNG) that it has imported into the country. This is the first...
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Oil and gas supply chain contract awards drop to 16-year low

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Oil and gas supply chain companies have seen their profits squeezed since the E&P cost cuts of the previous downturn – and just as the industry could finally hope for better days, the coronavirus pandemic caused the value of...
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Twelve oil companies among those submitting information for Guyana’s 2nd EITI report

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Twelve oil companies operating in Guyana are among those submitting information to the Guyana Extractive industries Transparency Initiative (GYEITI) National Secretariat for compilation of the country’s second report. GYEITI National Coordinator, Dr. Rudy Jadoopat, confirmed to OilNOW on Friday that...
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Guyana deepwater drilling pushes Schlumberger fourth quarter 2020 results

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Oilfield Services Company Schlumberger recorded $969 million in revenue for the Latin America region in the fourth quarter (Q4) of 2020. The company said on Friday this represents an increase of 17% sequentially with continued strength in Ecuador, Colombia,...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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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