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Safety first, then first oil – production imminent

OilNOW -
From the first discovery announced in May 2015, to first oil, now potentially just days away; the tremendous work that has gone into bringing the Liza Phase 1 Development project to the point of production will soon pay off. The...
News

Oil fields above $60 break-even will be priced out – Stabroek remains viable

OilNOW -
Energy projects that need oil prices above $60 per barrel in order to break even risk being uncommercial going forward, according to Rystad Energy. However, massive investments in exploration and sanctioning are still needed to meet growing global demand. As...
News

Venezuela increases oil output amid drive to keep world inventories low

OilNOW -
(MercoPress) The Organization of Petroleum Exporting Countries (OPEC) reported on Wednesday a gradual recovery in Venezuela's oil production with a figure of 912,000 barrels per day (bpd), 151,000 above October's output, as the Venezuelan Government continues to target February's...
News

Permian operators must drill more wells to maintain current production levels – IHS Markit

OilNOW -
Oil and gas operators in the Permian Basin, the most prolific hydrocarbon resource basin in North America, will have to drill substantially more wells just to maintain current production levels and even more to grow production, owing to the...
Exploration

SBM Offshore firms up contract with Petrobras for FPSO Sepetiba

OilNOW -
SBM Offshore said on Wednesday it has signed contracts with Petróleo Brasileiro S.A. (Petrobras) for the 22.5 years lease and operation of FPSO Sepetiba (formerly known as Mero 2). These contracts follow the signing of the binding Letter of...
News

Saudi Aramco touches $2 trillion in value on second day of trading

OilNOW -
(The Guardian) Saudi Aramco has touched a market value of $2tn a day after the Saudi state-backed oil company made its stock market debut. The shares rose almost 10% at the open on the second day of trade on Riyadh’s Tadawul...
News

Oil produced in Guyana will be sold at market price – ExxonMobil

OilNOW -
Oil being produced in Guyana will be sold at market price in keeping with the standard practice for marketing crude around the world. “Crude oil around the globe is sold via the market price, so whatever the market allows –...
News

Iwokrama, UG ink MOU for PhD scholarship through ExxonMobil funded science programme

OilNOW -
The Iwokrama International Centre said on Wednesday that it has signed an MOU with the University of Guyana (UG) to support a PhD scholarship at that institution under a science programme funded by ExxonMobil. The student, Arianne Harris, will work...
News

ExxonMobil will not be making contributions to political parties in Guyana – Deedra Moe

OilNOW -
As the South American country of Guyana prepares for elections, set to take place on March 2, 2020, ExxonMobil, operator at the Stabroek Block where oil production could begin within days, is making it clear that it will not...
Exploration

Chevron to plug US$20 billion into 2020 capital, exploration budget

OilNOW -
Chevron Corporation on Wednesday announced a 2020 organic capital and exploratory spending program of $20 billion. The 2020 budget supports a robust portfolio of upstream and downstream investments, highlighted by the company’s world-class Permian Basin position, its major capital...
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TechnipFMC reports strong Q3 2025 results driven by subsea growth

TechnipFMC has delivered another solid quarter, reporting total revenue of US$2.65 billion for the third quarter of 2025. Net...

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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