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USAID $500K project to boost Guyana’s transparency efforts

OilNOW -
The United States Agency for International Development announces a $500,000 USD Extractive Industries Transparency Project to promote transparency and good governance in Guyana’s extractive industries. According to a statement from the US Embassy in Georgetown on Friday, the aim of...
News

Safety first, then first oil – production imminent

OilNOW -
From the first discovery announced in May 2015, to first oil, now potentially just days away; the tremendous work that has gone into bringing the Liza Phase 1 Development project to the point of production will soon pay off. The...
News

Oil fields above $60 break-even will be priced out – Stabroek remains viable

OilNOW -
Energy projects that need oil prices above $60 per barrel in order to break even risk being uncommercial going forward, according to Rystad Energy. However, massive investments in exploration and sanctioning are still needed to meet growing global demand. As...
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Venezuela increases oil output amid drive to keep world inventories low

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(MercoPress) The Organization of Petroleum Exporting Countries (OPEC) reported on Wednesday a gradual recovery in Venezuela's oil production with a figure of 912,000 barrels per day (bpd), 151,000 above October's output, as the Venezuelan Government continues to target February's...
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Permian operators must drill more wells to maintain current production levels – IHS Markit

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Oil and gas operators in the Permian Basin, the most prolific hydrocarbon resource basin in North America, will have to drill substantially more wells just to maintain current production levels and even more to grow production, owing to the...
Exploration

SBM Offshore firms up contract with Petrobras for FPSO Sepetiba

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SBM Offshore said on Wednesday it has signed contracts with Petróleo Brasileiro S.A. (Petrobras) for the 22.5 years lease and operation of FPSO Sepetiba (formerly known as Mero 2). These contracts follow the signing of the binding Letter of...
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Saudi Aramco touches $2 trillion in value on second day of trading

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(The Guardian) Saudi Aramco has touched a market value of $2tn a day after the Saudi state-backed oil company made its stock market debut. The shares rose almost 10% at the open on the second day of trade on Riyadh’s Tadawul...
News

Oil produced in Guyana will be sold at market price – ExxonMobil

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Oil being produced in Guyana will be sold at market price in keeping with the standard practice for marketing crude around the world. “Crude oil around the globe is sold via the market price, so whatever the market allows –...
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Iwokrama, UG ink MOU for PhD scholarship through ExxonMobil funded science programme

OilNOW -
The Iwokrama International Centre said on Wednesday that it has signed an MOU with the University of Guyana (UG) to support a PhD scholarship at that institution under a science programme funded by ExxonMobil. The student, Arianne Harris, will work...
News

ExxonMobil will not be making contributions to political parties in Guyana – Deedra Moe

OilNOW -
As the South American country of Guyana prepares for elections, set to take place on March 2, 2020, ExxonMobil, operator at the Stabroek Block where oil production could begin within days, is making it clear that it will not...
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ExxonMobil says Guyana operations funded from equity, not U.S. taxpayers’ dollars

ExxonMobil Guyana says no American taxpayer money is financing its operations in the South American country. President, Alistair Routledge,...

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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