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U.S. responding to soaring natural gas prices with major supply ramp up

OilNOW -
By Ed Crooks - Vice-Chair, Americas at Wood Mackenzie “We have furnished the British great material support and we will furnish far more in the future. There will be no ‘bottlenecks’ in our determination to aid Great Britain.” President Franklin...
News

CNOOC’s Bohai is now the largest oil field in China

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(Reuters) - China's offshore oilfield cluster Bohai, run by state-run CNOOC Ltd., has become the country's largest crude oil producer with output hitting 30.132 million tonnes (602,640 barrels per day) in 2021, state news agency Xinhua reported. Bohai field, off...
News

Oil prices not likely to rise above $100/bbl this year for any sustained period – WoodMac

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U.K. based consultancy group Wood Mackenzie says it is unlikely that oil prices will rise above $100 a barrel (bbl) for any sustained period in this year. “Under the careful stewardship of OPEC+, the market is back in balance again...
Exploration

Analysis points to massive Guyana basin oil resources, huge production estimates

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An analysis written by The Value Portfolio, published on crowd-sourced content service provider Seeking Alpha says Guyana is a game-changer and is defining a new era for ExxonMobil with current discovered assets touching almost 11 billion barrels stretched across...
Exploration

Barreleye, Tilapia could deliver more pay at Guyana’s largest block

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The Noble Don Taylor is continuing exploration drilling operations at Barreleye-1 situated approximately 90.87 nautical miles (167.98 kilometers) offshore Guyana at the ExxonMobil-operated Stabroek Block, covering an area of 0.29 square nautical miles. Meanwhile, the Stena Carron will be engaged...
News

Organisers moving forward with February energy conference in Guyana

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Organisers of the International Energy Conference and Expo slated to be held next month in Georgetown, Guyana say they have noted the increase in COVID-19 cases in the South American country and will be taking all precautions in keeping...
News

Team led by Harvard Professor helping Guyana shape landmark development plan

OilNOW -
Hess Corporation’s Chief Executive Officer (CEO), John Hess on Thursday said his company and ExxonMobil Corporation are genuinely interested in seeing Guyana becoming a success story with its massive oil wealth. It is for this reason the two companies...
News

“We have the best cash flow story in the business” says Stabroek Block co-venturer

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After years of strategic investments behind exploration and development efforts in Guyana’s Stabroek Block, Hess Corporation declared 2022 as the year it reaps the billion-dollar rewards of its patience and labour. According to its Chief Executive Officer (CEO), John Hess at...
News

Vessels operating offshore Guyana must now have Seafarers’ Employment Agreement onboard – MARAD

OilNOW -
Guyana’s Maritime Administration Department (MARAD) says with effect from January 5, 2022, all seagoing vessels over 24 metres in length are required to have a copy of the Seafarers’ Employment Agreement, for each seafarer, on board. The MARAD notice, directed...
API

Fangtooth-1 unlocks new play; will ‘add significantly’ to 10-billion-barrel oil resource – Hess

OilNOW -
While the recent Fangtooth-1 discovery augments the list of over 20 significant finds in the Stabroek Block by operator ExxonMobil, its value should not be overlooked or underappreciated, says Hess Corporation’s Chief Executive Officer (CEO), John Hess. During Goldman Sachs’...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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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