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

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(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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Guyana government will soon lift its first 1 million barrels of oil

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The government of Guyana in the coming days will lift its first share of oil from the Liza Phase 1 Development located 120 miles offshore at the 6.6 million acres Stabroek Block. Shell Western Supply and Trading Limited has been...
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Halliburton seeking applicants for Guyana operations

OilNOW -
US oilfield services and drilling technology company Halliburton is seeking to fill a number of positions to support its offshore operations in Guyana, the world’s newest oil producer. The three positions for which applications are being sought are tech-prof cementing...
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Renewable energy on Guyana’s radar

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Even as the South American country of Guyana gears up to become a significant oil producer in the region with estimates of daily output reaching 1 million bpd by 2030, focus remains on lowering dependence on fossil fuel, in...
Exploration

Bahamas gunning for oil as Guyana success excites region

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Bahamas Petroleum Company (BPC) said Thursday it will be drilling an exploration well in April with results expected in the second quarter of the year. The well - Perseverance #1 – is located on the northern segment of the...
News

MODEC to supply largest ever FPSO to Brazil for production at giant ‘pre-salt’ region

OilNOW -
MODEC, Inc.  said Thursday it has signed a Sales and Purchase Agreement (SPA) with Equinor Brasil Energia Ltda, a subsidiary of Equinor ASA, to supply a Floating Production Storage and Offloading (FPSO) vessel for the Bacalhau (formerly Carcará) field...
News

Development drilling for giant Liza Phase 2 project set to begin next month

OilNOW -
Development drilling for the 220,000 barrels per day Liza Phase 2 project offshore Guyana will begin next month as US oil major ExxonMobil ramps up its operations at the 6.6 million acres Stabroek Block where more than 8 billion...
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Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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