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Hess moves to buy back US$650M in company shares by year-end as quarterly profits soar

OilNOW -
Given its projections for strong cash flow growth and quarterly earnings totaling US$667 million, Hess Corporation disclosed that it intends to complete a massive share repurchasing programme by year-end worth US$650 million. During its recent Q2 earnings release, Hess...
News

As Guyana expands rapidly, government to promote circular economy

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With Guyana’s oil sector poised to expand with six floating, production, storage, and offloading (FPSO) vessels by 2027, other supporting industries such as construction and services, and even agriculture, are set to reach new economic heights. Cognizant of this...
News

Guyana has enough gas to replace 17% of Russia’s supply to Europe – AMI analyst

OilNOW -
Guyana has delivered around 11 billion barrels of oil equivalent since 2015, the largest offshore oil discovery in the past decade, with the potential to replace at least 17 percent of the gas supply lost to Europe due to...
News

Front-end design work for Exxon’s fifth Guyana project underway – Hess

OilNOW -
John Hess, Chief Executive Officer (CEO) of Hess Corp. announced to investors that the front-end engineering and design (FEED) work for ExxonMobil’s fifth development in the Stabroek Block is already underway. “As for our fifth development at Uaru-Mako, the operator  anticipates submitting the...
News

When oil supply is low, the developing world suffers – President Ali tells Washington forum

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As the week-long high-level Guyana-United States meetings continued in Washington, President Dr. Mohamed Irfaan Ali, on Wednesday spoke about the need for a balance between oil and gas development and climate aspirations. In this regard, he reaffirmed Guyana's commitment...
News

Hess pumps over US$600M into Guyana, other key global assets for 2022 second quarter

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Hess Corporation reported on Wednesday that its capital and exploratory expenditure for the second quarter of 2022 totaled US$622 million compared with US$429 million in the prior year’s quarter. The company said this is primarily due to higher drilling...
News

US EXIM Bank’s US$2B package for roads, agriculture, renewables in Guyana

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The Export-Import Bank of the United States (EXIM) said the memorandum of understanding (MoU) it signed with Guyana on Wednesday, includes direct loans, loan guarantees, and insurance products, to finance the sale of US exports to Guyana for government projects totaling...
Discoveries

Petrobras finds gas at Uchuva well, offshore Colombia

OilNOW -
A discovery of accumulated natural gas was made by Brazil’s state-owned Petrobras, 32 kilometers off the coast of Colombia in the Uchuva-1 well. The company announced Friday that the well was drilled at a water depth of approximately 830 meters,...
Exploration

Exxon records $17.9 billion Q2 earnings as discoveries mount in Guyana

OilNOW -
ExxonMobil generated earnings of $17.9 billion and cash flow from operating activities of $20 billion in the second-quarter 2022 as a result of increased production, higher realizations and margins, and aggressive cost control. The company said on Friday it increased...
News

With seven successive hits, Exxon targeting five more wells for 2022 at Stabroek Block

OilNOW -
ExxonMobil’s 2022 campaign in Guyana’s prolific Stabroek Block has been nothing short of exemplary; the oil major and its partners Hess and CNOOC have had seven consecutive discoveries that have all been commercial finds. And with just five more months...
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Moonilal appoints new boards for Trinidad’s state energy companies

Trinidad and Tobago's Energy Minister Roodal Moonilal on Monday issued letters of appointment to the new boards of directors...

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