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Exxon signals second quarterly loss in a row on production, refining hits

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(Reuters) - Exxon Mobil Corp’s oil and gas producing and refining businesses will report operating losses in the second quarter, it said in a regulatory filing on Thursday, setting the stage for the company to post another quarterly loss...
News

SBM Offshore secures US$600 million bridge loan for FPSO Sepetiba

OilNOW -
SBM Offshore on Wednesday announced the closure of a US$600 million bridge loan facility for the financing of the construction of FPSO Sepetiba, to be deployed in the Santos Basin offshore Brazil. The facility was secured by the special purpose company...
News

Business Chamber bids farewell to ExxonMobil Guyana President

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI) on Thursday bid farewell to President of ExxonMobil Guyana, Rod Henson, who will be leaving to take up a new post in Houston soon. GCCI members joined the event virtually at which...
News

Hundreds of Guyanese businesses accessing CLBD’s online training courses

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Hundreds of Guyanese businesses are benefitting from a wide range of online training courses being offered by the Centre for Local Business Development (CLBD) as COVID-19 restrictions continue to prevent indoor sessions from being conducted. Since its establishment in 2017,...
News

World will still rely on oil and gas for much of its energy needs beyond 2040 – WoodMac Analysts

OilNOW -
In keeping with the goal of the Paris Agreement which calls for a limit to the increase in global temperatures to below 2 degrees Celsius by 2040, countries have begun the transition to renewable forms of energy. In the...
News

Guyana remains cautious of Dutch disease even as oil takes GDP to an “impressive” 5.4 percent

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Following its latest assessment of the economy’s performance for the year 2019, the Government of Guyana has stated in its End of Year Outcome Report that the country’s Gross Domestic Product (GDP) grew to an “impressive” 5.4 percent. The...
Exploration

High performance from Guyana as 2020 half-year discoveries hit lowest in 100 years

OilNOW -
Global discoveries of conventional resource volumes reached just 4.9 billion barrels of oil equivalent (boe) in the first half of 2020 with Guyana among just a few countries that recorded success during the period. Rystad Energy says this represents the...
News

‘The worst is behind us’: Analysts see continued recovery for global oil markets

OilNOW -
After reaching historic lows in April, global oil prices could continue to chop higher in the coming months as COVID-19 shelter-in-place restrictions begin to lift, S&P Global Platts said in a recent report . Speaking at the Global Executive Petroleum...
News

Maersk Drilling bags exploration contract for one-well campaign in Suriname

OilNOW -
Maersk Drilling has secured a contract for the semi-submersible rig Mærsk Developer which will be employed by PETRONAS Suriname Exploration & Production B.V. for a one-well exploration campaign in Block 52 offshore Suriname. The contract is expected to commence in...
News

Guyana makes historic presentation to ICJ over border controversy with Venezuela

OilNOW -
A battery of international lawyers with key support from Sir Shridath Ramphal presented Guyana’s case to the International Court of Justice (ICJ) on Tuesday to show why that august body has jurisdiction to hear the case over the border...
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Latest News

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Kamla Persad-Bissessar returns as TT PM in historic win

Voters in Trinidad and Tobago have removed the ruling People’s National Movement (PNM) from power. Electing the United National...

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