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Hess’ net profits soar to US$667M in 2022 second quarter

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Global energy major, Hess Corporation reported a net income of US$667 million, or US$2.15 per common share, in the second quarter of 2022, compared with a net loss of US$73 million, or $0.24 per common share, in the second...
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85-year-old Trinidad oil workers’ union to ‘show the ropes’ to Guyanese group

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The Guyana Agricultural and General Workers Union (GAWU) announced Tuesday that it has signed a Memorandum of Cooperation (MoU) with the Oilfield Workers Union (OWTU) of Trinidad and Tobago. General Secretary of GAWU, Aslum Singh, told OilNOW the signing took place in Trinidad. GAWU...
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Guyana oil revenue projections soar to US$157 billion by 2040, Rystad Energy analysis shows

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The recent spate of prolific discoveries in the Stabroek Block and the steady pace of Final Investment Decisions (FID) are positioning Guyana to reap the rewards of these finds with cumulative revenues totaling US$157 billion by 2040. This is...
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Schlumberger profited US$6.7B in Q2, cites increased drilling activity offshore Guyana

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As the second quarter of 2022 drew to a close, oilfield services company Schlumberger netted US$6.7 billion in profits, up 14% sequentially and 20% year-on-year. “This represented the strongest sequential quarterly growth since 2010,” said Schlumberger’s Vice President and Chief...
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Guyana economy continues to shine as IMF projects gloomy outlook for the world

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The International Monetary Fund (IMF) in its latest World Economic Outlook published on Tuesday, painted a gloomy picture of global development with much uncertainty ahead. According to the IMF, global output contracted in the second quarter of this year, owing...
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Yellowtail Permit requires high credit rating from Exxon’s insurers to cover potential pollution damage – Bharrat

OilNOW -
Even as Guyana forges ahead with multiple discoveries and approvals for offshore oil and gas production operations, authorities remain keen on ensuring the South American country has a robust system in place to minimise the impact these activities are...
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Liza projects at full capacity as background flare achieved offshore Guyana

OilNOW -
ExxonMobil Guyana’s Production Manager, Mike Ryan, announced full production capacity has been reached at both Liza projects offshore Guyana. Exxon was able to safely install a new gas compressor aboard the Liza Destiny floating production, storage, and offloading (FPSO) vessel...
Discoveries

Guyana soaring up the oil and gas scale with 33 finds in seven years – Vickram Bharrat

OilNOW -
ExxonMobil now has a total of 33 oil and gas discoveries in Guyana’s massive Stabroek Block with the latest made at the Seabob and Kiru-Kiru wells, according to the government of Guyana. This, according to Guyana’s Minister of Natural...
Discoveries

Exxon makes two more Guyana discoveries in incredible 2022 drill campaign

OilNOW -
Stabroek Block operator ExxonMobil and its partners have made a double discovery – now a total of seven discoveries for the year 2022. The discoveries were made at the Seabob and Kiru-Kiru wells, southeast of the Liza and Payara developments. The...
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Guyana to be only country in region with critical oil spill capping equipment on hand – Bharrat

OilNOW -
A key provision in ExxonMobil’s permit for the massive Yellowtail project offshore Guyana requires the company to have a capping stack maintained, tested, and stored in country. And this, according to Minister of Natural Resources, Vickram Bharrat, would make...
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ExxonMobil anticipates lower Q2 2025 earnings due weaker oil and gas prices

ExxonMobil expects lower crude and natural gas prices will weigh on its second quarter 2025 earnings, according to its...

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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