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Risky business: 50 O&G companies filed for bankruptcy in first 9 months of 2019

OilNOW -
According to the law firm Haynes and Boone, 50 energy companies filed for bankruptcy in the first nine months of 2019. These include 33 oil and gas producers, 15 oilfield services companies, and two midstream companies. Market Realist said in...
News

Brazil, Guyana stand out with huge ongoing investments in oil developments – WoodMac

OilNOW -
South American neighbours Brazil and Guyana are experiencing unprecedented investments in oil developments that will see production from these countries ballooning in coming years to more than 2.5 million b/d by 2025. Industry analyst Wood Mackenzie says the global deepwater...
News

Guyana among countries set to push non-OPEC production

OilNOW -
Combined oil production from non-OPEC countries such as Guyana is expected to grow at record speed in 2020, creating a headache for the Organization of the Petroleum Exporting Countries (OPEC), which is scheduled to meet this week in Vienna...
News

Guyana expected to remain in good position to drive future oil production – IHS Markit

OilNOW -
The South American country of Guyana, buoyed by consistent exploration success, is expected to remain in a good position to drive future hydrocarbon production while continuing to attract foreign investments. Exploration activity in Guyana has been concentrated in the Stabroek...
News

Investors urge Big Oil to follow ‘poster child’ Repsol’s climate pledge

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(Reuters) - Investors cheered Spanish group Repsol’s pledge to slash net carbon emissions to zero by mid-century, saying they hope it will pile pressure on rival oil and gas companies to follow suit in the fight against climate change. The...
News

Apache’s stock plunges to 18-year low on Suriname well disappointment

OilNOW -
Shares of Apache Corp. plunged on Monday, closing at the lowest price seen in 18 years, after the oil and natural gas producer provided a disappointing update of its first exploratory well in Block 58 offshore Suriname. MarketWatch said on...
News

Indian energy-based company seeking Guyanese joint venture

OilNOW -
Uttam Energy Limited (UEL), based in Pune, Maharashtra, India is seeking a joint venture with companies in the civil construction industry in Guyana. The company says it offers “the highest quality, most technologically advanced, and the most reliable solutions” in...
News

400 students participate in ExxonMobil supported STEM conference

OilNOW -
ExxonMobil Guyana partnered with the Volunteer Youth Corps (VYC) Inc. on Saturday to stage the 7th STEM Conference held at the Ramada Hotel in the country’s capital, Georgetown. The company said this latest collaboration with VYC is part of its...
News

Indonesia considers allowing for production sharing oil and gas contracts options

OilNOW -
(Reuters) - Indonesia is considering letting energy companies stick with the “cost recovery” system for oil and gas production sharing contracts, the energy minister said on Monday, after the government decided to adopt a new scheme in 2017. In 2017,...
Exploration

Apache to drill deeper at Maka-1 wildcat offshore Suriname

OilNOW -
Apache Corporation (NYSE, Nasdaq: APA) said Monday upon reaching a depth of approximately 6,200 meters at the Maka Central - 1 well offshore Suriname at Block 58, the company elected to conduct various testing activities in two distinct Upper Cretaceous...
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High-tech seismic campaign offshore Guyana to wrap up in December

ExxonMobil Guyana will complete its latest seismic data acquisition campaign in December, marking the end of a months-long effort...

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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