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BP profits fall on oil-price volatility

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(Market Watch) BP PLC said Tuesday its profit dropped by 12% in the first quarter due to a weaker oil price environment at the start of 2019, echoing anemic quarterly results recently reported by other Big Oil companies. U.K.-based BP...
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Resource from 3 wells to be added to 5.5 billion estimate at Stabroek Block

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ExxonMobil said that the last three discoveries in the Stabroek Block offshore Guyana – Haimara, Tilapia and Yellowtail – will add to the 5.5 billion barrels of oil equivalent resource estimation determined following the tenth discovery. Jack Williams, Senior Vice...
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U.S. SEC freezes assets over suspected insider trading in Anadarko

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(Reuters) - The U.S. Securities and Exchange Commission on Monday obtained an asset freeze in connection with suspected insider trading in Anadarko Petroleum Corp before the oil company agreed to be acquired by rival Chevron Corp. U.S. District Judge Gregory...
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New wells drilled to the moon and back by 2023

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Rystad Energy forecasts that more than 1 million kilometers of new oil and gas wells will be drilled over the next five years. The Norway-based energy research and business intelligence company said the collective depth of these wells is the...
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Iran sees oil above $100/b, repeats threat of Strait of Hormuz closing

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(S&P Global Platts) Tehran — A top Iranian military official repeated a threat to shut the Strait of Hormuz if the country's oil shipments are blocked by US sanctions, at the same time an official in parliament warned crude...
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Persad-Bissessar plans to leverage TT’s O&G expertise for jobs in Guyana’s emerging industry

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Trinidad and Tobago’s (TT) Opposition Leader, Kamla Persad-Bissessar is promising to create 50,000 jobs if re-elected Prime Minister in the twin island republic. Some of the jobs, she said, could come from opportunities in Guyana’s emerging oil and gas...
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CGX looking for ‘new dawn’ in Guyana oil and gas hotspot

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CGX Energy is looking to have its joint venture with Frontera Energy Corporation provide working capital for the company's ongoing commitments on its Berbice, Corentyne and Demerara blocks, through a signing bonus of $33,300,000 paid by Frontera. CGX said on Wednesday...
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Gunmen kidnap Shell employees, kill police guards in Nigeria

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Gunmen have kidnapped two senior employees of Shell and killed their police escorts in Nigeria's restive Delta region. According to a BBC report, the workers were on Thursday returning from an official trip to Bayelsa state and were on a...
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Liza Destiny topsides in place; 1st oil possible this year – Hess

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Hess Corporation says work on the 120,000 bpd Liza Destiny is almost complete with commissioning activities underway. The company also said there is a possibility of first oil coming by year-end from the Liza Phase 1 Development project. Speaking to...
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US Ambassador plugs infrastructure development as Guyana heads to first oil

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One of the areas that Guyana should look at closely, in keeping with the demands of a new oil and gas economy, is the country’s infrastructural development agenda. This was the advice given by US Ambassador to Guyana, Sarah-Ann...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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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