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Bayphase Ltd. awarded contract to review plans for ExxonMobil’s 3rd development offshore Guyana

OilNOW -
Guyana’s Department of Energy (DE) said on Tuesday it has successfully completed the evaluation of eleven Expressions of Interest from international firms for support services in review and evaluation of ExxonMobil’s Payara Field Development Plans. The Expressions of Interest received...
News

Bourbon Guyana operations unaffected by change in stakeholder ownership – General Manager

OilNOW -
The sale of Bourbon Corporation's assets to Société Phocéenne de Participations by a decision of the Marseille Commercial Court will not impact the operations of Bourbon Guyana, which officially opened its doors in the new South American oil producing...
News

Oil on track for best year since 2016

OilNOW -
(Bloomberg) -- Oil is on track for the biggest yearly gain since 2016 as declining U.S. crude stockpiles eased oversupply concerns, and heightened geopolitical risk gave the commodity a boost. Futures in New York held near a three-month high Monday....
News

Iran detains ship carrying smuggled fuel near Strait of Hormuz

OilNOW -
The Islamic Revolution Guard Corps (IRGC) navy forces have confiscated an oil tanker carrying smuggled fuel in Abu Musa waters, southern Iran, state-run Islamic Republic News Agency reported on Monday. Commander of the 5th region of the IRGC navy forces...
News

CARICOM oil producing neighbours sign tourism pact

OilNOW -
CARICOM oil producers Guyana and Suriname signed a tourism agreement on Monday in Paramaribo that is intended to boost efforts in both countries to increase tourism and visitor arrivals between the two territories. The Tourism Accord is viewed as a...
Exploration

ExxonMobil acquires over 1.7 million acres offshore Egypt

OilNOW -
ExxonMobil said Monday it has secured more than 1.7 million acres for exploration offshore Egypt. “These awards strengthen our exploration portfolio in the Eastern Mediterranean,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “We look forward...
News

Bourbon Offshore sold to creditors

OilNOW -
(The Maritime Executive) On December 23, the court overseeing the reorganization of Bourbon Offshore chose a purchase bid from Société Phocéenne de Participations (SPP), a company owned by Bourbon's creditors. The transfer of ownership of Bourbon's holding company, Bourbon...
News

Fugro acquires sole ownership of Seabed Geosolutions

OilNOW -
Dutch engineering company Fugro, which is in a partnership with Guyanese firm Ground Structures Engineering Consultants Inc., has entered into an agreement to acquire geoscience company, CGG’s 40% shareholding in Seabed Geosolutions and to terminate the Seabed Geosolutions’ joint...
News

Liza Phase 1 rapid start-up good news for oil industry – Wells Fargo

OilNOW -
From discovery in 2015 to start of oil production less than five years later, the rapid start-up of the Liza Phase 1 Development is good news for the global oil industry says a senior analyst at US multinational financial...
News

Oil holds near three-month high as U.S. crude stockpiles shrink

OilNOW -
Oil held gains near the highest close in over three months after U.S. crude stockpiles declined more than expected, Bloomberg reported on Monday. Futures were little changed in New York after capping a fourth weekly advance on Friday, the longest...
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Modern Port Act, independent Port Authority on the cards for Guyana – President Ali 

Guyana is set to introduce a Modern Port Act aimed at transforming its maritime legal framework to meet international...

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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