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Oil explorers looking at ‘large prospects’ offshore Suriname; to be tested in 2020

OilNOW -
Despite recent disappointments from two exploration campaigns offshore Suriname, joint venture partners operating in the Dutch-speaking South American country are looking at “large prospects” in Block 42 which they intend to test in 2020. Kosmos Energy is the exploration operator...
News

ExxonMobil holds more acreage in Brazil than any other company

OilNOW -
In September 2017, ExxonMobil had interest in just two offshore blocks in Brazil, totaling slightly more than 161,000 net acres. Fast forward one year later: the company now has interest in 26 deepwater blocks across five basins, covering an area nearly...
News

Iranian marchers chant “Death to America” on eve of US oil sanctions

OilNOW -
(Reuters) - Iranians chanting “Death to America” rallied on Sunday to mark both the anniversary of the seizure of the U.S. Embassy during the 1979 Islamic Revolution and the imminent reimposition of U.S. sanctions on Iran’s key oil sector. Thousands...
News

Hunt on for more oil in Guyana as Pluma well spudded

OilNOW -
US oil major ExxonMobil is ramping up its search for more oil off the Guyana coast with the spudding of the Pluma prospect approximately 17 miles (27 kilometers) from Turbot in the South portion of the 6.6 million acres...
Exploration

Venezuela running out of fuel, PdV suspends supply

OilNOW -
(Argus) Venezuelan state-owned PdV has nearly exhausted its motor fuel stocks, forcing up to 80pc of the country's more than 2,700 service stations nationwide to suspend sales until further notice, according to four senior officials with the federation of...
News

Energy earnings pull Trinidad & Tobago from recession

OilNOW -
(Oxford Business Group) Presented on October 1 by Colm Imbert, Trinidad and Tobago’s Minister of Finance, the 2019 budget forecasts GDP to increase by 1.9 percent this year before rising to 2.1 percent by 2021, reversing a trend that...
Exploration

Edison Chouest opens ‘G-Boats’ office in new South American oil & gas hotspot

OilNOW -
US marine transportation service provider Edison Chouest Offshore launched its G-Boats (Guyana) Inc. office in the South American country of Guyana on Friday. Edison Chouest entered Guyana in January 2016 with three vessels and has now increased its fleet to...
News

Exxon records 57% increase in earnings; Guyana discoveries enhance upstream opportunities

OilNOW -
Exxon Mobil Corporation on Friday announced estimated third quarter 2018 earnings of $6.2 billion, or $1.46 per share assuming dilution, compared with $4 billion a year earlier. Cash flow from operations and asset sales was $12.6 billion, including proceeds associated with...
News

Finance minister says major transformation from oil money coming; promises tight controls on revenue

OilNOW -
Guyana’s Finance Minister, Winston Jordan, says the revenue to be earned from the first phase of oil production in the South American country – around US$300M annually – will go directly into the Natural Resources Fund and will eventually...
News

Oil revenue can radically transform tourism in Guyana – stakeholders say

OilNOW -
Tourism Stakeholders in Guyana believe that revenues from oil production could potentially advance the tourism sector, making the South American country one of the most talked about destinations in the world. This was the highlight of a Tourism, Oil and...
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Chinese oil and gas giant CNOOC eyes greater role in Trinidad and Tobago’s energy sector

Executives from China National Offshore Oil Corporation (CNOOC) this week met with Trinidad and Tobago’s Ministry of Energy and...

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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