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Chevron pulls oil workers from Iraq

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(CNN) Chevron has evacuated all of its American oil workers from Iraq following last week's US airstrike in Baghdad. The company said in a statement Monday that as a "precautionary measure" its expatriate employees and contractors have left the...
News

Guyana enters 2020 as new oil producer with a total of 18 discoveries

OilNOW -
The South American country of Guyana has entered the new decade as an oil producer with a total of 18 discoveries made since 2015. There also remains massive potential for more discoveries from ongoing and planned exploration campaigns by...
News

Finding oil near prolific Stabroek block is positive sign – analysts

OilNOW -
Three discoveries have been made outside the Stabroek Block offshore Guyana, the most recent being Carapa-1 where Repsol and its partners encountered just around 4 metres of net oil pay. While this, together with the heavy oil results from...
News

Oil hits $70 as Mideast crisis deepens fear of supply disruption

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(Bloomberg) Oil extended its dramatic surge above $70 a barrel as the fallout between the U.S. and Iran escalated after the assassination of one of the Islamic Republic’s most powerful generals. Futures jumped by another 3% on Monday as the...
News

Motley Fool asks: where will ExxonMobil be in 5 Years?

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ExxonMobil (NYSE:XOM) is the second-largest publicly traded oil and gas company behind the recent IPO of the Saudi Arabian Oil Company. After a rough last five years of revamping its portfolio in an effort to adjust to the new...
Opinions

Guyana’s political economy incentives against wealth accumulation

OilNOW -
It is imperative to highlight the political economy incentives that may face politicians in countries, such as Guyana, with accumulated revenues – whether or not these revenues are formally a "fund." To set up institutional solutions to make it...
News

Western oil majors face potential attacks in Iraq following US airstrike

OilNOW -
Despite reports of oil field staff withdrawals in Iraq over concern of retaliation from Iranian backed militants, all upstream operations and exports in Iraq are continuing normally, according to local sources, but western oil majors still remain a potential...
News

Mexico hedges oil output for 2020 as risks grow

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(Reuters) - Mexico has completed its annual oil hedging program for 2020 at $49 a barrel, the finance ministry said on Friday at a time when the finances of both the sovereign and state oil company Pemex are particularly...
News

Eco Atlantic sees ‘significant thick oil pay opportunities’ at Orinduik following Carapa results

OilNOW -
Eco (Atlantic) Oil & Gas Ltd. believes the recently announced Carapa-1 oil find by Tullow Oil in the Kanuku Block offshore Guyana, though lower than previously estimated, is still an important discovery as it confirms the prospectivity of the...
News

First oil will be catalyst for development if sector is managed effectively – Boyer

OilNOW -
Following the first ever commercial oil discovery in Guyana in May 2015, ExxonMobil and its co-venture partners HESS and CNOOC announced the commencement of oil production from the Liza Phase 1 development in the Stabroek Block offshore Guyana on...
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Nigeria’s Petroleum Commission confirms ExxonMobil’s US$1.5B investment in the country’s deepwater oil sector

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that ExxonMobil will invest $1.5 billion in Nigeria’s deepwater oil...

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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