News

News

World needs more investments in oil production no matter the speed of energy transition – Rystad Energy

OilNOW -
Despite great uncertainty in new long-term scenarios envisioned by Norwegian energy research and intelligence firm, Rystad Energy, further investments in oil production are definitely needed to meet the next three decades of demand. “If investments in oil production were to...
News

Transocean secures lucrative contracts for three drilling rigs, boosts backlog to US$9 billion

OilNOW -
Offshore drilling contractor Transocean has announced significant contract acquisitions for three of its drilling rigs, enhancing its quarterly fleet status report with a notable boost in backlog to approximately US$9 billion. Transocean to deploy ultra-deepwater drillship for US$518M GoM job...
News

Frontera sets 2024 CAPEX at US$272-335 million

OilNOW -
Frontera Energy Corporation revealed its financial plan for 2024 on Feb. 15 and the results of its performance during Q4 2023.  Key projections for 2024 include consolidated operating earnings before interest, taxes, depreciation, and amortization (EBITDA) of US$400-450 million at...
News

Guyana willing to help deal with Tobago oil spill – Jagdeo

OilNOW -
Guyana Vice President Bharrat Jagdeo said Guyana is willing to help Trinidad and Tobago with the oil spill that is affecting the smaller island.  “It has become an international event - a tier 3 event. So, a number of international...
News

Exxon awards SBM Offshore for supplier excellence in support of Guyana operations

OilNOW -
SBM Offshore has received the 2023 Ruby awards for supplier excellence from U.S. oil major, ExxonMobil, for delivering best-in-class operations of floating production, storage and offloading (FPSO) vessels for Guyana. SBM Offshore was contracted by ExxonMobil to deliver and operate...
News

Guyana’s Uaru was MODEC’s highest earning EPCI project of 2023

OilNOW -
MODEC unveiled its 2023 financial results, spotlighting a significant profit uplift due to the successful advancement of its engineering, procurement, construction, and installation (EPCI) projects, alongside enhanced asset integrity of its older Brazil floating production, storage and offloading (FPSO)...
News

Guyana wants to be global pioneer on climate, energy and food security, says Ali

OilNOW -
President Irfaan Ali has articulated Guyana's plan to be a global leader in tackling the challenges of climate change, energy sustainability, and food security. The country is using the momentum from its oil-fueled development to expand its influence and...
News

Liza, Payara will continue producing oil into late 2040s

Kemol King -
Guyana's Vice President, Bharrat Jagdeo, during a Feb. 15 press conference, highlighted that the Liza and Payara projects are projected to sustain oil production until the late 2040s. The production profile for the projects, informed by data from ExxonMobil,...
News

Guyana emerging as oil producing giant in the Americas as output soars

OilNOW -
The International Energy Agency (IEA) anticipates that global oil markets will remain "comfortable" throughout 2024, buoyed by burgeoning production from key regions including the Americas, notably Guyana, which is expected to contribute significantly to meeting global oil demand. The South...
News

Cyprus: Eni sees potential for 150 million cubic feet a day from Cronos gas discovery

OilNOW -
A production test by Eni offshore Cyprus has allowed the company to estimate gas production capacity of over 150 million standard cubic feet per day, it said in a Feb. 15 update. The test was part of the Cronos-2...
1...169170171...1,027Page 170 of 1,027

Latest News

NewsOilNOW -

Suriname’s GranMorgu offshore oil project is 23% complete 

PARAMARIBO, SURINAME – On Tuesday, October 21, representatives from TotalEnergies and Staatsolie met with President Jennifer Geerlings-Simons to report...

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.

Quick Access

Company Info

Social Networks