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Plexus gets green light to sell subsidiary to TechnipFMC

OilNOW -
Plexus Holdings PLC (LON:POS) has confirmed that the proposed sale of a subsidiary business to TechnipFMC will go ahead after shareholders backed the deal. TechnipFMC has been awarded a contract by ExxonMobil for the engineering, manufacture and delivery of the...
News

Exxon, Hess and Nexen plug US$50,000 into Guyana Hurricane relief efforts

OilNOW -
ExxonMobil and its joint venture partners, Hess and CNOOC Nexen today donated US$50,000 (G$10M) to Guyana’s hurricane relief efforts for territories across the Caribbean which were devastated by Hurricanes Irma and Maria. A statement from the Ministry of the Presidency...
News

‘We must have a thorough understanding of our basin’ – Trotman

OilNOW -
Guyana’s Minister of Natural Resources Raphael Trotman has described the task of preparing the country’s institutions and legislative frameworks for the oil and gas sector as “monumental.” He was speaking last evening at the opening ceremony for the GTW Guyana...
News

Guyana urged to guard against Trinidadian takeover of oil & gas sector

OilNOW -
The Government of Guyana, private sector and citizens at large are being urged to guard against what is being described as a clear attempt by Trinidad & Tobago to monopolize opportunities in the South American country’s emerging oil and...
News

SBM Offshore hit with rising bill for corruption cases

OilNOW -
Dutch floater specialist, SBM Offshore, the same company contracted by ExxonMobil affiliate Esso Exploration & Production Guyana Limited to build an FPSO, has been caught up in corruption cases in Brazil that are now proving to be costly. The company...
News

Tullow secures Ghana approval for greater Jubilee field development

OilNOW -
Tullow Oil has secured government approval for its Greater Jubilee full-field development plan off Ghana. This is according to joint venture partner Kosmos Energy. In their Q3 2017 results released today, Kosmos said, “In mid-October, the partnership received approval for...
Exploration

Exxon successfully spuds Ranger-1

OilNOW -
ExxonMobil began exploratory drilling operations at the Ranger-1 well site in the Stabroek Block, offshore Guyana on Friday. The Ranger-1 drill site is located approximately 160 nautical miles off the coast of Guyana and covers an area of one square...
Exploration

Tullow shares dip on Araku disappointment

OilNOW -
After being forced to plug and abandon the highly anticipated 1.6-mile deep Araku-1 exploration well in Suriname, Tullow Oil took a 5pc hit to its share price. It is the second major disappointment for the company, which was forced to...
Opinions

Guyana’s oil not another’s feast

OilNOW -
Guyana has always cherished its co-operation and collaboration with our sister CARICOM states. But the gap between talk and action breeds much skepticism about the regional integration project. For instance, I recall, as Agriculture Minister, the battles we fought...
Featured

A decade after oil discovery! The bold steps, the mistakes, the lessons, and the future

OilNOW -
Like Guyana, the first major oil discovery was made in the West African country of Ghana in the same year the country celebrated its 50th Independence Anniversary. The hope was that oil revenue would help to advance the country's growth...
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SBM Offshore’s community initiatives in Guyana promote sustainability, local economies

SBM Offshore’s role in Guyana goes beyond oil production, as its community engagement projects aim to create long-lasting impacts...

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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