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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...
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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...
News

Seven Bourbon Rhode crew members still missing

OilNOW -
Search operations carried out since September 26 by the CROSS French West Indies-Guyana and the French Navy have resulted in the rescue of three survivors of the Bourbon Rhode shipwreck, as well as the recovery of four bodies. Bourbon...
News

Hess $275M deal to help fund Stabroek investment

OilNOW -
Hess will receive approximately $275 million in cash and approximately 115 million newly issued units in Hess Midstream Partners LP (NYSE: HESM) as part of a proposed transaction announced on Friday by HESM. Hess said cash proceeds from the transaction will help to fund its project...
News

Over 75% of BIT graduates capture jobs in Guyana’s emerging O&G industry

OilNOW -
The Board of Industrial Training (BIT), which administers and delivers technical and vocational educational training in Guyana, says it will continue to tailor its programmes to keep in line with the transformative changes that are taking place in the...
News

Apache spuds Suriname wildcat

OilNOW -
US independent Apache has spud a wildcat on Suriname’s Block 58, probing a prospect considered to be closely on-trend with one of 14 discoveries made by US oil major ExxonMobil in neighbouring Guyana. According to an October 4 report from...
News

BP CEO ends 40-year career with company

OilNOW -
The Board of BP announced Friday that, after a 40-year career with BP and over nine years as group chief executive, Bob Dudley, 64, has decided to step down as group chief executive and from the BP Board following delivery of the...
News

Compliance, systems and certification essential for partnerships in oil industry – GO-Invest Chairperson

OilNOW -
As many local companies aspire to play a role in Guyana’s emerging petroleum industry, whether as a supplier or a partner in development, it is important to adhere to tax and labour laws, statutory obligations and industry regulations. This...
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NewsOilNOW -

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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