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Exxon-led consortium’s next challenge in Guyana is local content

OilNOW -
The following is an opinion piece by David Blackmon, an independent energy analyst/consultant based in Mansfield, TX., published in Forbes on February 13, 2021.  The question of local content inevitably becomes a significant factor anytime oil companies move into a...
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Halliburton will service 100% of its Guyana operations in-country from this year

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U.S. oilfield service company Halliburton aims to have 100 percent of its operations serviced from Guyana in 2021. The company expects this move to result in a major increase in its in-country purchases, by at least 50 percent, and...
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Exxon’s multi-billion-dollar initiative will help change the face of UG – Vice Chancellor

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Major transformation is coming for Guyana’s highest institution of learning as a multi-billion-dollar capacity building and development project initiated by ExxonMobil and Stabroek Block co-venturers, Hess and CNOOC, is set to roll out. Over the years, ExxonMobil Guyana has been...
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Smaller oil companies looking to mirror Stabroek Block success in post-pandemic comeback – Finance Minister

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ExxonMobil’s exploration success in the prolific Stabroek Block where it has thus far made 18 discoveries, with an estimated nine billion barrels of recoverable oil resources has fueled the optimism of other smaller companies that will be embarking on...
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Deep freeze driving western U.S. gas prices to record highs

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(S&P Global Platts) Spot natural gas prices across much of the Western US surged to record highs in Feb. 12 trading as arctic weather fueled extreme localized demand, pushing supply and deliverability to their physical limit. Hubs across the Midcontinent...
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Exxon engages over 120 stakeholders in Guyana on its offshore operations

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ExxonMobil Guyana on Friday held a virtual session with over 120 stakeholders to update them on the company’s offshore operations in the South American country. President of ExxonMobil Guyana, Alistair Routledge, and Production Manager, Mike Ryan, updated participants on the...
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3,000 jobs to be generated from gas-to-shore project in Guyana

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The piping of natural gas to shore in Guyana for the generation of cheaper power is expected to have a significant impact on the manufacturing and other productive sectors and reduce the burden of high electricity rates for citizens,...
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Ramp up in oil production to result in ‘high rates of real economic growth’ says Finance Minister

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With Guyana currently having over US$200 million in its Natural Resources Fund (NRF) from oil exports and royalty, the government anticipates that the ramp up in production this year will result in greater earnings and an increase in economic...
Exploration

Baker Hughes says U.S. drillers add oil and gas rigs for 12th week in a row

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(Reuters) - U.S. drillers this week added oil and natural gas rigs for a 12th week in a row, the longest streak of additions since June 2017, as crude prices hit their highest in more than a year. The oil...
Exploration

Guyana among top 10 countries where subsea boosting can add millions of barrels of oil to output – Rystad Energy

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Subsea boosting, which is the most mature technology within the subsea processing toolbox, can add millions of barrels to recoverable reserves and Guyana has been identified as one of the top 10 countries where such an intervention can be adopted. Norway-based...
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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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