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ExxonMobil sees future demand for oil and gas increasing by 20% – Darren Woods

OilNOW -
As the global economy tightens under severe pressure brought on by the COVID-19 pandemic, demand for oil has plummeted to an all-time low creating a supply glut that has seen prices plummet as the world runs out of storage...
Opinions

Relationship between petrodollar and oil price shocks for Guyana

Bobby Gossai, Jr. -
The crude oil market has a dominant impact on the total connectedness of the crude oil currency-implied volatility relationship, suggesting that crude oil affects currencies more than currencies affect crude oil during oil price volatilities. However, during the crude...
News

Oil producers scramble to find ‘creative’ storage options after historic price crash

OilNOW -
An unprecedented collapse in oil demand has forced some producers to come up with “creative” measures in order to find places to store their crude, with one energy analyst describing the situation as like a “very elaborate game of...
News

Oil production offshore Guyana continues but project delays triggered by COVID-19 unavoidable

OilNOW -
Chairman and Chief Executive Officer of Exxon Mobil Corporation, Darren Woods told investors Friday that Guyana remains a key part of the oil major’s long-term growth plans. Although faced with the drop in oil prices and challenges resulting from...
News

Ongoing elections process in Guyana slowing down project approvals – ExxonMobil CEO

OilNOW -
A now two-month long delay in the completion of a presidential election in the South American country of Guyana is slowing down the project approvals for ExxonMobil’s third development at the 6.6 million acres Stabroek Block where the company...
News

Exxon, Chevron slam brakes on shale as oil demand tumbles

OilNOW -
(Reuters) - Exxon Mobil Corp and Chevron Corp are slamming the brakes on oil output, as the top two U.S. producers plan for combined global shut-ins of 800,000 barrels per day in response to plunging crude prices and fuel...
News

Exxon posts quarterly loss of $610 million – Guyana helps boost liquids production

OilNOW -
Exxon Mobil Corporation announced on Friday an estimated first quarter 2020 loss of $610 million, or $0.14 per share assuming dilution, compared with earnings of $2.4 billion a year earlier. Results included a $2.9 billion charge from identified items,...
News

Guyana receives almost US$5 million in first royalty payments

OilNOW -
The first payments of royalty due to Guyana from oil produced for the months of January, February and March have been deposited into the country’s Natural Resources Fund (NRF) account held at the Federal Reserve Bank of New York. On...
News

Global oil glut reducing but just 400 million barrels of storage left – Rystad Energy

OilNOW -
The global imbalance between oil supply and demand, which has built to 26.4 million barrels per day (bpd) in April due to the Covid-19 pandemic, is set to halve to 13.6 million bpd in May and fall further to...
News

ExxonMobil Guyana continues to take all precautions for COVID-19

OilNOW -
As oil production operations progress at the Liza Phase 1 Development offshore Guyana, ExxonMobil, operator at the 6.6 million acres Stabroek Block, says it continues to take all precautions to safeguard the health of workers. LISTEN TO AUDIO CLIP https://youtu.be/Sh-MgChnM0w  
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Macaw-1 to kick off Suriname’s offshore exploration drive – Staatsolie 

TotalEnergies will begin drilling the Macaw-1 exploration well in Suriname's Block 64 by mid-May 2025. According to the state-owned...

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