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ExxonMobil Guyana contract consistent with other countries – IMF Mission Chief

OilNOW -
International Monetary Fund (IMF) Mission Chief to Guyana, Dr. Arnold McIntyre, says there is nothing unusual about the Production Sharing Agreement (PSA) which the country has with ExxonMobil for the Stabroek Block, where more than 6 billion barrels of...
News

Flaring stays near record-high in the Permian

OilNOW -
Flaring and venting in the Permian Basin has stabilized in the range of 600 million to 650 million cubic feet per day (MMcfd), according to Rystad Energy’s preliminary data for the third quarter of 2019. Venting is gas release without...
News

Bristow gets greenlight from Bankruptcy Court for reorganization

OilNOW -
Bristow Group Inc. said on Monday the U.S. Bankruptcy Court for the Southern District of Texas has confirmed the Company's Amended Plan of Reorganization and indicated that it will enter a written order to this effect. The Company expects to consummate...
News

Exxon will not take final decision on Mozambique LNG project this week

OilNOW -
Exxon Mobil will stop short of taking a final investment decision (FID) on its massive $30 billion liquefied natural gas (LNG) project in Mozambique when it attends an event there on Oct. 8, a source familiar with the matter...
News

Guyana could avert Dutch Disease with sound economic plan

OilNOW -
Warning bells have been ringing in the South American country of Guyana ever since ExxonMobil made its first world class discovery at the Liza field back in 2015. With every discovery since then – 14 to date by Exxon...
News

Strict rules will ensure NRF not treated as slush fund by any gov’t – finance minister

OilNOW -
Guyana’s finance minister, Winston Jordan, says ‘strict rules’ governing the administration of the fund that is being set up to manage oil income will ensure that no government can misuse the billions of dollars in revenue the country is...
News

Sale of Asia Pacific assets will see ExxonMobil raising $5B

OilNOW -
Wood Mackenzie has identified the five most likely disposal candidates after ExxonMobil signalled the start of its Asia Pacific divestment programme. Together, these opportunities are worth US$5 billion, and could contribute a third of the Supermajor's global divestment target. Having...
News

Suriname’s state oil firm signs production-sharing deal with Columbus

OilNOW -
(Reuters) - Suriname’s state-owned oil firm said on Friday it had signed a production-sharing agreement for the onshore Weg Naar Zee (WNZ) block with Britain-based oil and gas exploration company Columbus Energy Resources. In a statement, the company, Staatsolie Maatschappij...
News

Chevron farms into Shell’s Mexico deepwater blocks

OilNOW -
US supermajor Chevron said on Friday it signed an agreement with Royal Dutch Shell to buy a 40% stake in three deepwater blocks on the Mexican Gulf. The deal which was approved earlier this week by Mexico’s oil regulator, the...
Opinions

The fear of Dutch Disease from Guyana’s petroleum development

Bobby Gossai, Jr. -
One of the possible harms of an oil export boom is that the rise in oil earnings leads to increased public and private spending, which in turn leads to a sharp appreciation of the real exchange rate, and then...
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NewsIşıl Güneş -

Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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