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ExxonMobil says it remains committed to producing national resource with local workforce

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US oil major ExxonMobil said it remains committed to working with local companies in Guyana to help build their capacity so that they can better serve the growing needs of the country’s emerging oil and gas industry. The company began...
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Hess sells interest in Gulf of Mexico field to plug another US$500 million in Guyana

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Hess Corporation announced Monday that it has entered into an agreement to sell its 28% working interest in the Shenzi Field in the deepwater Gulf of Mexico to BHP Billiton, the field’s operator, for a total consideration of $505...
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Most lost oilfield jobs won’t return until late 2021 – Deloitte

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(Bloomberg) --Almost three-quarters of the pandemic-driven jobs losses in the U.S. petroleum and chemical sectors may not come back before the end of next year, according to Deloitte LLP. The collapse in oil demand and prices spurred the fastest rate...
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Farmers, service providers can benefit big from development of offshore oil resources – Vickram Bharrat

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The Guyana government is looking to ensure that benefits from development of the country's multi-billion-barrel oil resources are passed on to persons operating in every sector of the economy and not just those directly servicing the industry. “It’s not only...
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Broadside, Chinook are wells to watch – T&T Energy Chamber

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The Energy Chamber of Trinidad and Tobago says two ongoing projects in the Caribbean oil producing nation are wells to watch in 2020 – BHP’s Broadside and Touchstone Exploration’s Chinook – both offshore Trinidad. In a recent article, the Chamber...
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New energy champion in Caribbean waiting to be crowned – Arthur Deakin

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Americas Market Intelligence (AMI) Analyst, Arthur Deakin, believes that South American neighbours Guyana and Suriname can avoid some of Trinidad and Tobago's mishaps by strengthening their institutions, improving their regulatory frameworks, and developing traditional sectors such as mining and...
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Alison Redford advocated for full transparency in oil and gas on previous visits to Guyana

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Former Premier of Alberta, Canada, Alison Redford, who led a team of experts to review the work that was done by the Department of Energy for the Payara Development project offshore Guyana, strongly advocated for full transparency in the...
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Guyana’s 8 billion plus barrels of oil only tip of the iceberg – Ramnarine

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The more than 8 billion barrels of oil equivalent resources discovered offshore Guyana since 2015 by US oil major ExxonMobil is merely the tip of the iceberg, with much more to come. Multiple drill targets remain on the 6.6...
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Oil loses 4% after Trump gets coronavirus and economies wobble

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(Reuters) - Oil prices fell more than 4% on Friday and posted a second weekly decline after U.S. President Donald Trump tested positive for COVID-19, roiling risky assets, and as rising global crude output threatened to overwhelm the market’s...
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Payara investment is twice Guyana’s GDP, country must profit from closing window of O&G opportunities – VP Jagdeo

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Guyana’s Vice President, Dr. Bharrat Jagdeo, said on Friday the country is not in a position to raise the US$9 billion on its own that is required for the Payara development hence the need for investors, and further, moving...
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Guyana oil production could edge closer to one million barrels per day by year-end

ExxonMobil Guyana expects production from the Stabroek Block to climb sharply before the end of 2025, driven by the...

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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