News

Exxon Mobil Corporation, the world’s largest refiner and marketer of petroleum products, disclosed on Tuesday that it has bounced back from a massive US$1.4B loss in 2020, recording a whopping US$23B in earnings for 2021. Importantly, this is the...

Newrest Guyana, the company providing catering services on the Liza Destiny FPSO said in a statement on Tuesday it is committed to upholding equal treatment for its employees and promoting local content. This follows reports of alleged mistreatment of Guyanese...

After more than 20 years of seismic data acquisition and drilling, CGX Energy Inc. has finally landed its first oil discovery in Guyana at the Kawa-1 well on the Corentyne Block which appears to rival some of the notable...

Oil and Gas explorers around the world had high hopes pinned on 2021 as pandemic restrictions eased and wildcat wells deferred from the year before were given the green light. But according to Rystad Energy, despite an impetus from...

ExxonMobil Corporation disclosed on Monday that it is undergoing a significant restructuring process that will result in over US$6 billion in cost savings by 2023, compared to 2019. Effective April 1, the company will be organized along three business lines...

The Guyana government is sparing no expense to facilitate the transformation of the country's infrastructure with billions in funding being set aside this year for major development projects in the oil producing South American nation. The government said last week...

Authorities in Guyana have projected that the country will receive close to US$1 billion in oil revenue this year, representing more than three times what it has earned per annum to date from the Liza Phase 1 Development. During his...

When the Liza Phase 2 development comes on stream this quarter and reaches full production later this year, Hess Corporation expects to collect 24 lifts from its Guyana operations. It would also be well positioned to clear off its...

Oil prices rose to a more than seven-year peak at the weekend and recorded their sixth straight weekly gain with Brent climbing to $90.03 a barrel, after hitting $91.70 early Friday, the highest level since October 2014. OilNOW understands preparations...

The Payara development, the third project in the ExxonMobil-operated Stabroek Block, is 66 percent complete. This is according to Hess Corporation’s Chief Operating Officer (COO), Greg Hill. During the company’s Q4 2021 earnings call, Hill said Subsea Umbilicals, Risers and...