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Anadarko posts Q1 2018 profit

OilNOW -
Anadarko Petroleum Corp reported a quarterly profit on Tuesday as higher crude prices helped the oil and gas producer earn more per barrel. The company, which had its vessel seized by Venezuela while conducting a seismic study off the Guyana...
News

Petrobras chips away at debt with asset sales

OilNOW -
(Hart Energy) Brazil’s Petrobras intends to raise US$21 billion with the sale of assets by the end of this year, according to its 2018-2022 business plan, as the company works to lower debt while carrying out activities, mainly in...
News

Guyana oil spill response plan in line with international guidelines – CDC Director General

OilNOW -
Guyana’s National Oil Spill Contingency Plan has benefited from the input of several notable international organizations and following a series of reviews, the document will be open for public consultations in the South American country. Director General (ag) of the...
News

BP says still sees oil at $50-$60/bbl in 2018 as shale output surge

OilNOW -
(Reuters) - BP expects benchmark oil prices to weaken in the second half of the year as U.S. shale production surges by up to 1.5 million barrels per day, Chief Financial Officer Brian Gilvary said on Tuesday. The London-based oil...
Exploration

Big oil firms hold back on drilling

OilNOW -
(The Wall Street Journal) The world’s biggest oil companies are awash in cash, thanks to rising crude prices. But few, if any, are going on spending sprees, even as the prospect of a global oil shortage looms. Western energy giants...
News

Oil industry is exciting but focus on agriculture equally important – Brasington

OilNOW -
ExxonMobil Guyana says it recognizes the important role agriculture plays in the South American country and is committed to continuing efforts that would support the growth and development of the sector. The company was a key sponsor of Uncapped Marketplace...
News

World Bank US$20M loan package to include experts for SWF workshop

OilNOW -
Two international experts are being provided to Guyana as part of a US$20M oil and gas assistance loan package from the World Bank, in order to help the country develop its Department of Energy. The country's State Minister, Joseph Harmon...
News

Exxon lucky-run in Guyana hits snag at Sorubim; dry hole a reminder of risk in E&P

OilNOW -
US oil major ExxonMobil’s unprecedented string of oil discoveries off the Guyana coast has hit a snag with no oil being found at the Sorubim-1 well where the Noble Bob Douglas has been drilling in recent weeks. Vice President of...
News

‘Exxon told us to maximize use of Guyanese employees, contractors’ – Lockwood

OilNOW -
Majority Guyanese-owned port facility – Guyana Shorebase Inc. (GYSB) says it has been maximizing the use of local content in its operations, which is in keeping with a request from ExxonMobil for the company to utilize as much services...
News

Guyana begins to cash in ExxonMobil signing bonus to cover legal fees at ICJ

OilNOW -
Guyana has begun the preliminary process in order to cycle funds from an US$18M signing bonus received from ExxonMobil in 2016, to defend its border controversy case at the International Court of Justice (ICJ). The move is documented in a...
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Exxon not backing out of Block S8 talks – Jagdeo 

ExxonMobil, Hess and CNOOC are not backing out of talks with the Guyana government for a shallow water block...

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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