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Tullow Oil records over $500 million profit at half year as plans for oil search in Guyana advances

OilNOW -
UK-based Tullow Oil has recorded revenue of $905 million; gross profit of $521 million; post-tax profit of $55 million and free cash flow of $401 million for the six months ended 30 June 2018. The company, in announcing its 2018...
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ExxonMobil awaiting approvals from regulators to proceed with FID for Lisa Phase 2

OilNOW -
ExxonMobil will make its Final Investment Decision (FID) on the giant Liza Phase 2 Development offshore Guyana following key approvals from regulators which the company hopes to receive by year end. Country Manager, Rod Henson, told OilNOW the Environmental Impact...
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Liza Phase 1 is ExxonMobil’s biggest greenfield project since 2015 – Rystad Energy

OilNOW -
ExxonMobil greenfield investments have been “virtually non-existent” since 2014 says Norway-based Rystad Energy, in a new report published on Tuesday. The largest International Oil Company (IOC) in the world has a lot riding on the small South American country of...
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Coming oil bonanza is ‘more than we can spend in a lifetime’ – Trotman

OilNOW -
Guyana’s Minister of Natural Resources, Raphael Trotman, during an interview on Monday at his Duke Street, Georgetown office, said the Government is not oblivious to criticisms in the oil and gas sector, but noted that it must be constructive. He said, “What we are...
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Big Oil goes from begging for cash to rewarding shareholders

OilNOW -
(CNN Money) When crude crashed below $30 a barrel, the debt-riddled oil industry was forced to beg for cash from Wall Street. Many cash-strapped companies survived the downturn by selling shares at a record-setting pace. The oil industry is returning...
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Exxon forging ahead with rapid exploration, appraisal drilling; second well at Ranger targeted

OilNOW -
ExxonMobil is forging ahead with its exploration and appraisal drilling programme offshore Guyana with new prospects in its crosshairs and plans to further assess proven oil fields. As the US oil major updated its total estimated recoverable reserves for...
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Buying cheap and selling expensive will not work for oil & gas – Guyana Foreign Minister

OilNOW -
Guyana’s Minister of Foreign Affairs, Carl Greenidge, is encouraging Guyanese, both at home and in the Diaspora, to evaluate what skills are needed in the oil and gas industry and look at specializing in some of those areas. At a...
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University of Guyana seeking specialists for O&G department

OilNOW -
The University of Guyana (UG) has begun the process of recruiting specialist for its incoming Department of Petroleum and Geological Engineering in the Faculty of Engineering and Technology which is scheduled to become operational from January 2019. Addressing the ‘Local...
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Romania offers O&G training to Guyana

OilNOW -
The Southeastern European nation of Romania has expressed interest in cooperating with Guyana in the area of Oil and Gas (O&G).  Guyanese Minister of Foreign Affairs Carl Greenidge, during a press conference at his South Road, Georgetown, office on...
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‘We are not embarrassed about who we are’ says Guyana’s Natural Resources Minister

OilNOW -
US Oil Company, ExxonMobil’s announcement on Monday that the updated total estimated recoverable resources for the Stabroek Block, offshore Guyana now stand at more than 4 billion oil-equivalent barrel is a “big deal for Guyana.” This is the view of the country's...
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Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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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