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Russia “ready to live forever” with $40 oil price or lower – Economy Minister

OilNOW -
A race to the bottom in oil prices may not have many winners, but Russia is certain it can survive. It’s less sure about hedge funds. “We’re actually ready to live forever with the oil price at $40 or below,”...
News

Chevron prepares to exit Trinidad & Tobago

OilNOW -
Chevron has entered into an agreement to sell all of its shares in Chevron Trinidad and Tobago Resources (CTTR) to Shell’s BG, and all of its interest in Trinling, an LNG marketing and transportation company, to Shell’s BG Gas. According...
News

Oil drops below $50 on US climate exit

OilNOW -
Brent oil fell below $50 today, as concerns about the impact U.S. President Donald Trump's decision to exit the Paris climate agreement could have on drilling in the United States. Analysts believe Trumps decision could result in an increase...
News

JUST IN: Guyana to earn 2% royalty from Liza field production; project deemed “technically sound”

OilNOW -
Guyana will be earning a 2% royalty on gross earnings from the Liza oil field production. This will come, along with a 50/50 Production Sharing Arrangement, in which Guyana earns half of the ‘profit oil’ revenue while the other half...
Exploration

Guyana finalizing ExxonMobil production license; public disclosure on agreement likely

OilNOW -
Guyana’s Minister of Natural Resources Raphael Trotman said today that government is in the process of finalising ExxonMobil’s production license and will be “making some pronouncements in the next few weeks.” Mr. Trotman made the announcement to stakeholders at...
News

ExxonMobil CEO says oil demand will grow in coming decades

OilNOW -
Exxon Mobil Corp. investors backed a resolution urging the oil giant to consider whether it can prosper under strict greenhouse gas limits in a vote coming amid reports President Donald Trump may soon abandon the 2015 Paris Climate Accord. According...
News

Henson takes up leadership of ExxonMobil frontier operations in Guyana

OilNOW -
ExxonMobil’s newly installed Country Manager in Guyana, Rod Henson, will be looking to continue the stretch of good fortune seen by the company over the last 2 years, offshore the South American country. Exxon made the biggest oil discovery...
News

OSRL Signs MoU with Trendsetter, Halliburton for integrated subsea well-capping solutions

OilNOW -
Oil Spill Response Ltd (OSRL), Trendsetter Engineering and Halliburton today announced that they have signed a Memorandum of Understanding (MoU) for integrated subsea well-capping response solutions. With the MOU, the companies will create a strategic alliance for oil and...
News

GOGA pushing for development of technical skills in oil & gas

OilNOW -
Developing technical skills among Guyanese for jobs in the oil and gas sector is being treated as a top priority by the Guyana Oil and Gas Association (GOGA). The entity is actively engaging a number of external partners which...
News

CMHI and TechnipFMC in joint venture talks

OilNOW -
Chinese jack-up fabrication specialist China Merchant Heavy Industry (CMHI) and French offshore engineering giant TechnipFMC have started talks on forming a joint venture to focus on engineering, procurement and construction work for offshore modules. The two companies recently met in...
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Hull for Guyana’s Jaguar FPSO arrives at Singapore yard

SBM Offshore said the multi-purpose floater (MPF) 5 has arrived at the Seatrium yard in Singapore. The hull is...

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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