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Total divests several non-core UK assets to Petrogas

OilNOW -
French oil giant Total has confirmed that it has signed an agreement to divest several UK non-core assets to Petrogas NEO UK Ltd, the exploration and production arm of the Oman-based conglomerate MB Holding. According to a Total release,...
News

Oil Workers Evacuate GOM Rigs as Storm Strengthens

OilNOW -
(Bloomberg) -- Oil and natural gas producers in the U.S. Gulf of Mexico began evacuating workers and shutting in output as a storm gathers strength off the coast of Florida. The system sitting 100 miles (160 kilometers) southwest of Apalachicola,...
News

More than 15 drill targets identified at Orinduik

OilNOW -
More than 15 drill targets have been identified at the Orinduik block offshore Guyana and co-venturers Tullow, Total and Eco Atlantic are fully funded to drill at least 8, having just a few days ago spudded the first of...
News

Staying home, getting cheque in mail not on the cards for oil revenue – Finance Minister

OilNOW -
Guyana’s finance minister, Winston Jordan, says while the prospect of cash payouts to citizens from oil revenue has not been discussed at the level of Cabinet since it was first floated several months ago, it is not something that...
News

CARICOM reaffirms ‘unswerving support’ for Guyana in border spat with Venezuela

OilNOW -
The Caribbean Community said this week in a Communique coming out of the 40th Regular Meeting of the Conference of Heads of Government that it remains committed to supporting Guyana in the country’s efforts to preserve its sovereignty in...
News

Mexico moratorium on oil auctions giving rival Brazil an edge

OilNOW -
(Bloomberg) -- Mexico’s moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana. Mexico President Andres Manuel Lopez Obrador has halted new bid rounds, and state-owned Petroleos Mexicanos has...
News

Hammerhead opened pathway to potential 10-billion-barrel province

OilNOW -
Hammerhead, the 9th of 13 discoveries made so far off the oil-rich coast of Guyana, opened a new play in the Stabroek block that potentially unlocks a pathway for the emergence of a multi-billion-barrel province. So says Westwood Global...
News

New pipeline needed to meet surge in demand for Permian crude

OilNOW -
Growing supply of Permian crude means the basin will need extra crude oil takeaway capacity of up to 500,000 barrels per day (b/d) by the end of next decade, according to new research from global natural resources consultancy Wood...
Exploration

2016 Stabroek contract revisions followed dry hole at Skipjack

OilNOW -
When US oil major ExxonMobil first started exploration activities at the Liza field the odds of finding oil at the high-risk Guyana basin was less than 20 percent. The giant discovery in 2015 of 800 million to 1.4 billion...
News

Major trade & investment show launched in Guyana

OilNOW -
The second Guyana Trade and Investment Exhibition (GuyTIE) was officially launched on Wednesday, July 3, at the Arthur Chung Conference Centre on the outskirts of the country's capital, Georgetown, under the theme, “Made Locally, Trading Globally.” GuyTIE is intended to...
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Exxon gives back portion of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the...

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