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ExxonMobil limiting oil production after encountering additional challenges with gas compressor

OilNOW -
Additional challenges with the gas handling system on the Liza Destiny FPSO has resulted in ExxonMobil taking a decision to limit oil production in order to curb flaring. Despite the challenges, the company says it is continuing to safely...
News

ExxonMobil seeking ‘appropriate resolution’ as EPA threatens court action over fine

OilNOW -
Guyana’s Environmental Protection Agency (EPA) says it will be moving to the court soon as a result of ExxonMobil’s decision not to pay the fine imposed over hydraulic fluid spills that occurred earlier this year at the offshore Stabroek...
News

Over 3 million bpd to be sanctioned in Guyana, Brazil even as industry takes a hit globally

OilNOW -
Oil projects off the coast of South America have lower breakeven prices and competitive payback times in comparison to similar projects in other parts of the world, which makes them more resilient in the current turbulent times, Norway-based Rystad...
News

Complex crew change completed successfully for Liza Destiny FPSO

OilNOW -
UK-based ship management company, V.Ships, has supported SBM Offshore with a complex crew change for the Liza Destiny FPSO, relieving the last batch of 8 crew members. The Onsigners had arrived 2 weeks earlier, completed their quarantine ashore at Georgetown,...
News

World’s largest offshore rig owner declares bankruptcy

OilNOW -
(Bloomberg) --Valaris Plc became the latest casualty of the global slump in oil prices, filing for bankruptcy Wednesday as the world’s largest offshore rig owner by fleet size seeks to restructure a roughly $7 billion debt load. The Chapter 11...
News

U.S. considers expanding Venezuelan oil sanctions

OilNOW -
(Bloomberg) --The Trump administration is considering additional sanctions on Venezuela aimed at halting the remaining fuel transactions permitted with the South American nation, according to people familiar with the matter. The measures could target crude swaps with companies in Asia...
News

The approach of Guyana’s new government in developing its multi-billion-barrel oil resources

OilNOW -
The newly installed government in Guyana says it is seeking to change the country’s approach to oil and gas by ensuring benefits to Guyanese from the offshore resources are maximized. Officials of the now two-week old administration have said...
News

Guyana’s oil industry will not be run by a “lone wolf”- Natural Resources Minister

OilNOW -
Even though he is tasked with managing the day to day operations of Guyana’s oil industry, Minister of Natural Resources, Vickram Bharrat has been keen to note that the sector would not be run by “a lone wolf”.  During an...
News

Payara review included in-depth assessment of eleven key areas

OilNOW -
Through the engagement of a specialist firm in December 2019, the in-depth review of the Field Development Plan (FDP), Environmental Impact Assessment (EIA) and supporting documents for the Payara development also included an assessment of eleven key areas of...
Exploration

ExxonMobil awarded 35-year concession in Argentina’s Vaca Muerta

OilNOW -
(S&P Global Platts) ExxonMobil has been awarded a 35-year concession for another block in Vaca Muerta, a massive shale play that has been driving the company's growth in oil and natural gas production in Argentina. The government of Neuquen, a southwestern province where most...
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Latest News

Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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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