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Eco-Atlantic encouraged by ExxonMobil’s 9th discovery close to its block offshore Guyana

OilNOW -
Eco-Atlantic Oil & Gas said it is encouraged by the latest ExxonMobil oil discovery at Hammerhead-1 in the Stabroek Block offshore Guyana. Hammerhead-1 is said to be located seven kilometres from the boundary with the Orinduik block, where Eco...
News

Closure of ailing refinery will save Trinidad from financial disaster – Prime Minister

OilNOW -
In an address to the nation on Sunday night, Trinidad and Tobago’s Prime Minister, Dr Keith Rowley said his government had to proceed with the hard decision of closing the Petrotrin refinery since failing to do so would have...
Featured

Pioneering Spirit vessel in ‘record-breaking’ mission for TurkStream project

OilNOW -
(Offshore Energy) Offshore services provider Allseas said via social media on Thursday that the massive Pioneering Spirit vessel broke a pipe-laying record on Sunday, August 26. Namely, the massive Pioneering Spirit installed a record-breaking 6.3 kilometers of pipe in one...
News

Former TT Prime Minister thinks Guyana oil can save Petrotrin refinery from closure

OilNOW -
Former Trinidad and Tobago Prime Minister, Kamla Persad-Bissessar is urging the current government in the twin-island republic to pursue a partnership with neighbouring Guyana to refine its oil in order to avert the closure of the Petrotrin refinery. According to...
News

Once int’l contracts have been engaged in there is no question of removal, renegotiation – Granger

OilNOW -
Guyana’s President David Granger says gov’t will continue seeking the best advice for future negotiations of oil contracts while pointing out that once international agreements are entered, there is “no question” of renegotiation. Explaining that arrangements with ExxonMobil will be...
News

Tanker collision at PDVSA can trigger force majeure

OilNOW -
A tanker collision at Venezuela’s state-owned PDVSA’s main terminal, or Jose dock, could result in a drop in that country’s crude exports by a third in September possibly leading to a force majeure declaration, news outlets report. Several million...
News

BP, Shell and Total confirmed for Brazil’s 5th bid round

OilNOW -
BP, Shell and Total have been given the green light to bid in Brazil’s 5th production sharing round set to take place on September 28. The South American country’s oil regulator ANP said on Wednesday, August 29, that in all,...
Exploration

ExxonMobil strikes oil again in 9th discovery off Guyana coast

OilNOW -
ExxonMobil (NYSE:XOM) has made its ninth discovery offshore Guyana at the Hammerhead-1 well, marking its fifth discovery on the Stabroek Block in the past year and proving a new play concept for potential development. Hammerhead-1 encountered approximately 197 feet (60 meters)...
News

Guyana must walk tightrope to develop oil resources, demand more from future contracts – Brookings Institution

OilNOW -
Guyana will face significant challenges in using the oil and gas industry to bring about development without the “resource curse,” where petroleum revenues generate concentrated wealth and harm the competitiveness of other industries within the country. A July 2018 report...
News

Refinery closure could trigger ripple effect on Trinidad economy – Ramnarine

OilNOW -
Former Minister of Energy and Energy Affairs of Trinidad and Tobago Kevin Ramnarine says the communities in direct proximity to Petrotrin’s Pointe-a-Pierre refinery stand to lose the most with the shutting down of the facility which will have a...
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CNOOC’s record production in Guyana boosts strong Q3 results

CNOOC Limited announced its highest-ever net production and net profit for the third quarter of 2024, crediting increased output...

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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