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ExxonMobil ramps up search for more hydrocarbons offshore Guyana

OilNOW -
As US oil major ExxonMobil, operator at the 6.6 million acres Stabroek Block, prepares for first oil in the South American country of Guyana, the company is also ramping up its search for more hydrocarbons with a number of...
News

Mexico’s Pemex announces giant oil discovery

OilNOW -
Mexican state-owned petroleum company Petróleos Mexicanos (Pemex) announced on Friday the discovery of the Sen field in Nacajuca, Tabasco, with 536 million barrels of oil equivalent. General Director of Pemex, Octavio Romero Oropeza, informed Mexican President, Andrés Manuel López Obrador that three other...
Exploration

Guyana on verge of first oil and new era of hope

OilNOW -
Barring unfavourable weather conditions or other factors that could result in a delay, the South American country of Guyana could now be just weeks away from producing its first barrel of oil, thereby ushering in a new era of...
News

SBM Offshore moving ahead with 2 more hulls under Fast4Ward® programme

OilNOW -
SBM Offshore said Thursday it has signed contracts for the construction of the Company’s fourth and fifth hulls under its purchase program for Fast4Ward® new build multi-purpose hulls. The contracts were signed with Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd....
News

OPEC and allies agree to deepest oil output cuts in a decade

OilNOW -
OPEC and allies led by Russia on Thursday agreed one of the deepest output cuts this decade to support crude prices and prevent a glut but were still debating how long the curbs would last next year. The Organization of...
News

Risky business: 50 O&G companies filed for bankruptcy in first 9 months of 2019

OilNOW -
According to the law firm Haynes and Boone, 50 energy companies filed for bankruptcy in the first nine months of 2019. These include 33 oil and gas producers, 15 oilfield services companies, and two midstream companies. Market Realist said in...
News

Oil companies swap stakes in Mexico as government holds off on auctions

OilNOW -
(Reuters) - With Mexico’s government insisting that energy companies increase oil and gas output before it auctions off more of the country’s vast reserves or offers more partnerships with state-run Pemex, firms ranging from foreign majors to local players...
News

Brazil, Guyana stand out with huge ongoing investments in oil developments – WoodMac

OilNOW -
South American neighbours Brazil and Guyana are experiencing unprecedented investments in oil developments that will see production from these countries ballooning in coming years to more than 2.5 million b/d by 2025. Industry analyst Wood Mackenzie says the global deepwater...
News

Guyana among countries set to push non-OPEC production

OilNOW -
Combined oil production from non-OPEC countries such as Guyana is expected to grow at record speed in 2020, creating a headache for the Organization of the Petroleum Exporting Countries (OPEC), which is scheduled to meet this week in Vienna...
News

Guyana expected to remain in good position to drive future oil production – IHS Markit

OilNOW -
The South American country of Guyana, buoyed by consistent exploration success, is expected to remain in a good position to drive future hydrocarbon production while continuing to attract foreign investments. Exploration activity in Guyana has been concentrated in the Stabroek...
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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,...

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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