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BP enjoyed its best year in oil and gas trading since 2009

OilNOW -
(Bloomberg) BP Plc enjoyed its best year trading oil and natural gas since 2009, helping the company weather the impact of lower energy prices and weak refining and chemical margins. The oil major runs one of the world’s most sophisticated trading...
News

Trinidad cancels gas deal over US sanctions on Venezuela

OilNOW -
(Reuters) Trinidad and Tobago has cancelled an agreement with Venezuela for the joint development of a natural gas field straddling their maritime border because of United States sanctions on Venezuela's state energy giant Petroleos de Venezuela SA (PDVSA). The Caribbean...
News

New estimate pushes Orinduik prospective resources to over 5 billion BOE

OilNOW -
Eco (Atlantic) Oil & Gas Ltd. said on Monday that an updated Competent Persons Report (CPR) on the Orinduik Block offshore Guyana has upped the gross prospective resources to 5.141 billion barrels of oil equivalent, from the previous estimate...
News

Coronavirus pushing oil price decline as Guyana government prepares to lift its first share of crude

OilNOW -
As the government in the South American country of Guyana prepares to lift its first shipment of oil from the Liza Phase 1 Development, the largest demand shock the oil market has suffered since the global financial crisis of...
News

Potential grows for more than 5 FPSOs at prolific Stabroek Block

OilNOW -
With the gross recoverable resource estimate now above 8 billion barrels of oil equivalent at the Stabroek Block, co-venturers ExxonMobil, Hess and CNOOC are analysing data and assessing development needs that would help determine the number of floating production...
Exploration

Explorers face growing battle for support in 2020 – WoodMac

OilNOW -
What's the role for the exploration industry as the energy transition takes long-term oil growth off the agenda? In 2019, Andrew Latham, vice president of global exploration at Wood Mackenzie, asked if there's room for explorers in a low-carbon...
News

Exxon, other majors boost demand for FPSOs as deepwater drilling takes off – Rystad Energy

OilNOW -
Demand from the world’s top oil companies for floating drilling units has climbed steadily in the past two years and is set to rise further through 2020 and 2021. Norway-based Rystad Energy said this trend is a result of the...
News

Shell shares sink as full-year net profit tumbles 23% on lower oil and gas prices

OilNOW -
(CNBC) Oil giant Royal Dutch Shell reported a sharp fall in full-year net profit on Thursday, citing challenging macroeconomic conditions and lower oil and gas prices. Net income attributable to shareholders on a current cost of supplies (CCS) basis and excluding identified...
News

Three injured in fire at Perenco platform offshore T&T

OilNOW -
Three oil workers have been injured as a result of a fire at Perenco Trinidad and Tobago’s (TT) offshore AD platform. TT’s Ministry of Energy and Energy Industries is actively engaging the company, according to reports. According to the Trinidad...
News

ExxonMobil earns $14.3B in 2019 as Guyana operations enter new chapter

OilNOW -
Exxon Mobil Corporation (NYSE:XOM) announced Friday its estimated fourth quarter 2019 earnings of $5.7 billion, or $1.33 per share assuming dilution. Earnings included favorable identified items of about $3.9 billion, or $0.92 per share assuming dilution, mainly a $3.7 billion...
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Technip Energies highlights collaborative role in GranMorgu FPSO project

PARAMARIBO, SURINAME  - In an exclusive interview with OilNOW during the Suriname Energy, Oil & Gas Summit (SEOGS) 2025,...

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