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Nigeria oil minister says Exxon not leaving

OilNOW -
Reports that US oil major ExxonMobil was mulling the sale of oil and gas fields in Nigeria for up to $3 billion as the company focuses on Guyana’s Stabroek Block and investments in the US Permian Basin are untrue,...
News

New milestone at Stabroek as first subsea tree installed

OilNOW -
The Liza Phase 1 Development has reached another incredible milestone—installation of the first subsea tree. A subsea tree monitors and controls the production of a subsea well. Affixed to the wellhead of a completed well, it can also manage fluids...
News

100% Guyanese workforce preps Saipem shore base for first shipment of pipes offshore

OilNOW -
The first shipment of pipes for the Liza field to be loaded directly from the Saipem shore base facility, sitting on the eastern bank of the Demerara River in Georgetown, took place over the weekend, marking a significant step...
News

Juan Guaido: Why China should switch sides in Venezuela

OilNOW -
(Bloomberg) China is the world's largest oil importer and Venezuela has the largest proven oil reserves in the world. For those two reasons alone, the economic relationship between our nations will inevitably grow. In fact, we hope for even...
News

FID and key terms in O&G industry

OilNOW -
FID is the Final investment decision to invest in a project, typically made by the board and executive committee of oil companies. At this point, major risks have been mitigated and concerns addressed. The project then moves to execution,...
News

Chevron gets treasure, trouble with rebel-hit Mozambique gas

OilNOW -
(Bloomberg) -- "With great power comes great responsibility," said Uncle Ben in the famous Marvel Comic turned blockbuster film Spider-Man (2002). Chevron Corp.’s acquisition of Anadarko Petroleum Corp. gives it access to the popular Permian Basin, in addition to...
News

China, Russia ‘spread disorder’ in Latin America – Pompeo

OilNOW -
(Bloomberg) Secretary of State Michael Pompeo blamed China and Russia for spreading “disorder” in Latin America by funding failing development projects and supporting leaders such as Venezuelan President Nicolas Maduro, who the U.S. insists must step down from power. Pompeo,...
Opinions

Enabling resource-rich Guyana to reduce poverty and inequality

OilNOW -
What should a government in a resource-rich state do about the gap between rich and poor populations (vertical inequality), and the gap between resource-rich and resource-poor regions (horizontal inequality)? Indeed, oil and gas exporters tend to have more varied...
News

Africa Oil ups stake in Eco Atlantic ahead of Guyana drill campaign

OilNOW -
Canada-based Africa Oil Corp. (AOI–TSX, AOI–Nasdaq-Stockholm) said on Wednesday it had acquired 4,752,850 common shares of Eco (Atlantic) Oil and Gas Ltd. (TSXV: EOG or LSE: ECO) for US$1.05 per common share for a total consideration of US$4,999,998. The common...
News

Chevron joins ranks of ultra-majors in US$50B powerhouse deal – could become operator of Roraima Block

OilNOW -
Chevron’s announcement on Friday that it was acquiring Anadarko in a US$50 billion deal will see it joining the ranks of the ultra-majors and puts it in position to potentially acquire the Roraima Block offshore Guyana, pending approval by...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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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