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Guyana moving ahead with new model PSA

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A review of Guyana’s 1986 Petroleum (Exploration and Production) Act is underway as the country moves to modify and modernize the document which is the basis for a number of Petroleum Agreements it has signed with oil companies exploring offshore. This is according...
News

‘We are not discussing renegotiation of contract’ – Dr. Bynoe

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Head of Guyana’s Department of Energy (DoE), Dr. Mark Bynoe, says that renegotiation of the Production Sharing Agreement (PSA) between US oil major ExxonMobil and the South American country is not currently being discussed and reiterated that such a course...
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Shell leads cash race but Exxon catching up

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(Reuters) - Royal Dutch Shell widened its lead over Exxon Mobil as king of cash among the world’s top oil and gas companies last year but its U.S. rival could catch up with its investment drive in new production. The...
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GIPEX postponed: organizers eyeing Q3 2019

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The Guyana International Petroleum Exhibition (GIPEX), originally scheduled to be held in March 2019, has been postponed to the 3rd quarter of the year. The inaugural event, held from February 7 to 9, 2018, at the Guyana Marriott Hotel, was...
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Total pulls staff out of Venezuela after US sanctions

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(AFP) French oil and gas firm Total has evacuated its staff from Venezuela where its accounts have been blocked due to US sanctions, the company's chief executive said Thursday. "The accounts are blocked thanks to US decisions," CEO Patrick Pouyanne...
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Total makes significant gas discovery off South Africa

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Total Petroleum is reporting that it has made a significant gas condensate discovery on the Brulpadda prospects, located on Block 11B/12B in the Outeniqua Basin, 175 kilometers off the southern coast of South Africa. In a release on Thursday, Total...
Exploration

ExxonMobil gunning for more oil at Yellowtail as Guyana foray continues

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Twelve discoveries and more than 5 billion barrels of oil later, US oil major ExxonMobil’s story in Guyana is still being written and analysts believe that more oil lay in the chapters ahead. Fresh off of its 11th and 12th...
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Lifetime engagement in Guyana means talking to everyone – ExxonMobil CEO

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Just a few days before US oil major ExxonMobil announced its 11th and 12th discoveries offshore Guyana, Chairman and CEO Darren Woods made an appearance on a quarterly earnings call where he expressed full confidence in the advancement of the...
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ExxonMobil strikes oil again offshore Guyana in 11th and 12th discoveries

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US oil major ExxonMobil has once again struck oil offshore the South American country of Guyana, this time at the Tilapia-1 and Haimara-1 wells, making it the company’s 11th and 12th  discoveries in the Stabroek Block. Director of the Department...
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TechnipFMC awarded large EPCI contract for Petrobras Mero 1 pre-salt field in Brazil

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TechnipFMC (NYSE: FTI) (PARIS: FTI) said on Wednesday it has been awarded a large engineering, procurement, construction and installation (EPCI) contract for the Mero 1 pre-salt field, located in the Santos Basin, at 2,100 meters of water depth offshore...
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Exxon to relinquish 9% of Stabroek Block acreage

ExxonMobil will relinquish at least 9% of the vast Stabroek Block in Guyana as required by its petroleum agreement,...

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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