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Petrobras sells remaining 10% stake in TAG to Engie Brasil, CDPQ

OilNOW -
(Reuters) - Brazil’s state-owned oil company Petrobras on Monday agreed to sell its remaining 10% stake in natural gas pipeline company TAG to Engie Brasil and Canadian investment fund Caisse de Depot et Placement du Quebec (CDPQ). The sale is...
News

Halliburton takes a $1.7 billion loss in Q2 2020

OilNOW -
Halliburton Company (NYSE: HAL) announced Monday a net loss of $1.7 billion, or $1.91 per diluted share, for the second quarter of 2020. This compares to a net loss for the first quarter of 2020 of $1.0 billion, or $1.16 per diluted share. The company said adjusted...
News

Chevron set to buy out Noble Energy for $5 billion in shares

OilNOW -
Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Noble Energy, Inc. (NASDAQ: NBL) to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or...
News

Getting ‘advantaged barrels’ out of the ground early means bigger returns for companies, host countries

OilNOW -
The demand for petroleum is expected to remain robust in coming years but trends that point to an accelerated shift to renewables mean developing oil and gas resources sooner rather than later will ensure the most favourable returns for...
News

Suriname deepwater becoming more attractive as Guyana remains stuck in political conflict

OilNOW -
The people of Suriname went to the polls on May 25 and a new President is now in place with a pledge to “reconstruct” the country’s natural resources. No doubt, the newly discovered petroleum resources will be a priority...
News

Brazil boosts oil exports to Asia as global rivals make record cuts

OilNOW -
(Reuters) - Brazil increased crude exports to Asia in the first half of the year, stealing a slice of a coveted developing market from global rivals who made record cuts to shipments to match the unprecedented fall in demand...
News

Halliburton forms strategic agreement with Microsoft and Accenture to advance digital capabilities

OilNOW -
Halliburton, Microsoft Corp. and Accenture (NYSE: ACN) have entered into a five-year strategic agreement to advance Halliburton’s digital capabilities in Microsoft Azure. Under the agreement, Halliburton said it will complete its move to cloud-based digital platforms and strengthen its customer...
News

Venezuela’s oil production regresses 77 years under socialism

OilNOW -
(Panam Post) In the middle of the 21st century, Venezuela’s oil industry regressed 77 years to the point where crude oil production fell to historic lows that are reminiscent of 1943. OPEC reports revealed that in June, oil production fell...
Opinions

Ownership of Guyana’s future natural gas to be lifted

Bobby Gossai, Jr. -
Unlike the principles for the crude oil lifting agreement that could be in the disposition of crude oil, the disposition of natural gas must go to the trouble of clarifying that any amount of natural gas actually taken by...
Exploration

Heavy oil at Orinduik similar to North Sea, Gulf of Mexico commercial crude

OilNOW -
The heavy oil discovered in 2019 at the Orinduik block offshore Guyana is similar in quality to crude being produced and commercialized in several parts of the world, including the US Gulf of Mexico, North Sea and Brazil’s Campos...
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New oil spill bill places full liability on companies for damages and clean-up 

Oil companies operating in Guyana would be liable for all damages caused by an oil spill incident they cause,...

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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