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Sale of Asia Pacific assets will see ExxonMobil raising $5B

OilNOW -
Wood Mackenzie has identified the five most likely disposal candidates after ExxonMobil signalled the start of its Asia Pacific divestment programme. Together, these opportunities are worth US$5 billion, and could contribute a third of the Supermajor's global divestment target. Having...
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Suriname’s state oil firm signs production-sharing deal with Columbus

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(Reuters) - Suriname’s state-owned oil firm said on Friday it had signed a production-sharing agreement for the onshore Weg Naar Zee (WNZ) block with Britain-based oil and gas exploration company Columbus Energy Resources. In a statement, the company, Staatsolie Maatschappij...
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Chevron farms into Shell’s Mexico deepwater blocks

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US supermajor Chevron said on Friday it signed an agreement with Royal Dutch Shell to buy a 40% stake in three deepwater blocks on the Mexican Gulf. The deal which was approved earlier this week by Mexico’s oil regulator, the...
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Seven Bourbon Rhode crew members still missing

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Search operations carried out since September 26 by the CROSS French West Indies-Guyana and the French Navy have resulted in the rescue of three survivors of the Bourbon Rhode shipwreck, as well as the recovery of four bodies. Bourbon...
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Hess $275M deal to help fund Stabroek investment

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Hess will receive approximately $275 million in cash and approximately 115 million newly issued units in Hess Midstream Partners LP (NYSE: HESM) as part of a proposed transaction announced on Friday by HESM. Hess said cash proceeds from the transaction will help to fund its project...
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Over 75% of BIT graduates capture jobs in Guyana’s emerging O&G industry

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The Board of Industrial Training (BIT), which administers and delivers technical and vocational educational training in Guyana, says it will continue to tailor its programmes to keep in line with the transformative changes that are taking place in the...
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Apache spuds Suriname wildcat

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US independent Apache has spud a wildcat on Suriname’s Block 58, probing a prospect considered to be closely on-trend with one of 14 discoveries made by US oil major ExxonMobil in neighbouring Guyana. According to an October 4 report from...
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BP CEO ends 40-year career with company

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The Board of BP announced Friday that, after a 40-year career with BP and over nine years as group chief executive, Bob Dudley, 64, has decided to step down as group chief executive and from the BP Board following delivery of the...
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Compliance, systems and certification essential for partnerships in oil industry – GO-Invest Chairperson

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As many local companies aspire to play a role in Guyana’s emerging petroleum industry, whether as a supplier or a partner in development, it is important to adhere to tax and labour laws, statutory obligations and industry regulations. This...
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PPP in favour of ‘targeted cash transfers’ from oil revenue

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Guyana’s Opposition Leader, Bharrat Jagdeo said on Thursday that the People’s Progressive Party Civic (PPP/C) is in favour of targeted cash payouts to Guyanese from revenue the country is set to earn from oil production. Mr. Jagdeo however cautioned...
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China’s first taste of Guyana’s Golden Arrowhead crude heads to Huizhou

A very large crude carrier (VLCC) is delivering China’s first cargo of Guyana’s new Golden Arrowhead crude grade, marking...

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