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Venezuelan continued oil fallout presents a challenge for global markets – IEA

OilNOW -
A major advisor to energy producing nations has suggested that the continued fallout from Venezuela could present a “challenge” for global oil markets, Merco Press said in a March 16 report. The International Energy Agency (IEA) has warned that crude supplies from...
News

Guyana success pushes Hess to number 2 spot for 2018 drilling performance

OilNOW -
Drilling success in Guyana in 2018 earned Hess the number two spot in the industry for value created from wildcat drilling according to an annual exploration review by Rystad Energy. Only ExxonMobil, co-owner and operator of the Stabroek Block, offshore Guyana,...
News

ExxonMobil to plug additional $4B in Guyana, Permian Basin – Darren Woods

OilNOW -
ExxonMobil CEO Darren Woods says the US oil giant experienced an upside over the course of 2018 and is preparing to invest $4 billion of additional Capital Expenditure (CAPEX) from 2019 to 2025 in Guyana and other areas like...
Exploration

CGX to begin hazard assessment at Utakwaaka-1

OilNOW -
CGX Energy Inc. is set to begin a shallow hazard survey at its Utakwaaka-1 well site offshore Guyana ahead of a drill campaign scheduled to get underway by or before November 2019. Guyana’s Maritime Administration Department said the operation, which...
News

BHP to drill more wells in Trinidad after gas finds

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(Reuters) - BHP Group Ltd has stepped up exploration drilling in deep water off Trinidad and Tobago hunting for gas which could supply the country's Atlantic LNG (liquefied natural gas) plant in the 2020s, a senior executive said. The company...
News

Rowan jack-up for Repsol drill campaign in Guyana

OilNOW -
Rowan Companies plc announced on Wednesday that Repsol Exploracion Guyana, S.A. has signed a contract for the EXL II, a high-specification Super 116E Jack-up rig, for work offshore the South American country. The contract is for one well beginning in...
News

Guyana among 15 countries on oil spill response training course

OilNOW -
Training is underway for oil spill response managers in the wider Caribbean region at a course being held in St Kitts and Nevis during the period March 11-14. Participants from 15 countries, including Guyana, are attending the International Maritime Organisation...
News

Saipem secures US$220M in new contracts, extensions

OilNOW -
Saipem has been awarded new contracts and extensions to existing agreements in onshore drilling worth approximately US$220M in total, the Italy-based company said on Wednesday. The new contracts involve projects to be carried out in Bolivia and Saudi Arabia, while...
News

Storage tanks explode at Venezuela heavy oil project

OilNOW -
Two storage tanks have exploded at the Petro San Felix heavy-crude upgrading project in eastern Venezuela, according to an oil industry source and a legislator, Reuters said in a report on Wednesday. According to the Reuters report, the tanks were...
News

Guyana gets thumbs-up from CDB for setting up fund to manage oil revenue

OilNOW -
The Caribbean Development Bank (CDB) is applauding Guyana’s efforts to establish a Natural Resources Fund as the South American country prepares for first oil in 2020. Speaking recently at the Bank’s annual news conference in Bridgetown, Barbados, Director of Economics,...
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ExxonMobil anticipates lower Q2 2025 earnings due weaker oil and gas prices

ExxonMobil expects lower crude and natural gas prices will weigh on its second quarter 2025 earnings, according to its...

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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