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Hess says high quality oil found at Uaru with potential for massive reservoir

OilNOW -
In a bid to optimize the sequence of development opportunities at the prolific Stabroek Block, ExxonMobil and Stabroek Block co-venturers Hess and CNOOC are looking to fast track field development where high-quality oil is found in large reservoirs, similar...
News

Talks on ‘Arco Norte’ energy corridor to advance later this year – President Ali

OilNOW -
The Governments of Guyana, Northern Brazil, Suriname, and French Guiana are due for a meeting later this year on the planned regional energy corridor. Guyana’s President, Dr. Irfaan Ali made the disclosure during a press conference on Wednesday. The planned...
News

Guyana President confirms major ramp up coming in ExxonMobil’s oil production operations

OilNOW -
President of Guyana, Dr. Irfaan Ali on Wednesday highlighted plans by ExxonMobil to significantly ramp up oil production activities offshore the South American country which will see production hitting the 1 million barrels per day mark by 2027. During a...
News

Guyana could soon rake in US$80M for each oil lift as Goldman projects biggest jump in global demand

OilNOW -
American multinational investment bank and financial services company Goldman Sachs is forecasting an unprecedented jump in global oil demand over the next six months that would see Brent crude prices hitting the $80 mark by the third quarter of...
News

Hess reports US$252 million net income for Q1 2021, says Guyana projects remain on schedule

OilNOW -
Hess Corporation which holds a 30 percent stake in the Stabroek Block offshore Guyana reported on Wednesday a net income of of US$252 million for the first quarter of 2021. Turning its attention to operations at the Stabroek Block, the...
News

Exxon confirms Yellowtail as 4th development being targeted at Stabroek Block

OilNOW -
In announcing its 19th oil discovery at the Stabroek Block offshore Guyana on Tuesday, ExxonMobil also confirmed that it will be pursuing its fourth development in the Yellowtail area located 19 miles (30 kilometers) southeast of the Liza developments....
News

Disputes over tax, contract terms see Uganda struggling to reach first oil since major discoveries in 2006

OilNOW -
Uganda's long-delayed maiden oil project took a vital step to becoming more than a pipe dream this month but risks still hang over hopes of new export flows from East Africa, S&P Global Platts said in a report on...
Exploration

Exxon hits pay at Uaru-2 in 19th Guyana oil discovery

OilNOW -
ExxonMobil announced on Tuesday its 19th discovery offshore the South American country of Guyana at the Uaru-2 well which will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be...
News

Over 20 locations were examined for gas to power project and multiple studies conducted, government affirms

OilNOW -
Guyana’s Vice President and officials from the Gas to Power Generation Taskforce held a lengthy session with the media on Monday to explain the background and current plans related to the estimated US$900 million project aimed at landing a...
News

Brazil oil production falls 6% in first quarter

OilNOW -
(Reuters) - Oil production in Brazil fell 6% in the first quarter from a year earlier, according to National Petroleum Agency (ANP) figures seen by Reuters on Monday, led by a drop in output from state-run oil giant Petrobras. Brazil...
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SLB acquires ChampionX as it strengthens production and recovery capabilities

SLB has completed its acquisition of ChampionX Corporation, expanding its portfolio in the production and reservoir recovery space.  In its...

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