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U.S. shale oil output to rise to record 8.179 million bpd in February: EIA

OilNOW -
(Reuters) - U.S. oil output from seven major shale formations is expected to rise by nearly 63,000 barrels per day (bpd) in February to a record 8.179 million bpd, the U.S. Energy Information Administration said in a monthly report...
News

Guyanese youth warming up to oil and gas

OilNOW -
Scores of young people in Guyana were given an opportunity to learn about the emerging oil and gas sector and how they can position themselves to benefit from opportunities. This was done through the hosting of the second round...
News

Oil prices drop as China economic slowdown threatens to spread

OilNOW -
(Reuters) - Oil prices fell on Tuesday on signs that an economic slowdown in China, the world’s second-largest economy and oil consumer, was spreading, stoking concerns over future fuel demand. The gloomy economic news has pulled down financial markets across...
News

Second shipment of Liza Phase One undersea pipes arrives

OilNOW -
Italian firm Saipem, one of the Prime Contractors for ExxonMobil Guyana and its joint venture partners HESS and CNOOC Nexen, has brought in its second shipment of 2,684 pipes for the Liza Phase One project timetabled to commence production...
News

University of Guyana set to launch first oil and gas programme this month

OilNOW -
The University of Guyana will be introducing an Associate of Science Degree in Petroleum Engineering this month. Registrar of the University, Dr. Nigel Gravesande, said so far, 74 persons have indicated an interest in participating in the programme when it...
News

Rystad Energy says ExxonMobil likely to sanction over $16B this year for its Guyana operations

OilNOW -
Norway-based Rystad Energy says US oil major ExxonMobil “looks primed” to make an offshore sanctioning splash in 2019 for its operations in Guyana. The company will be bringing forward over $16 billion for sanctioning, the industry analyst said. “In fact,...
Exploration

Ramform Tethys among vessels undertaking new ESSO surveys

OilNOW -
On January 12, 2019, ExxonMobil affiliate Esso Exploration and Production Guyana Limited commenced 3D and 4D seismic surveys within the southern portion of the Stabroek Block off the Guyana coast, just weeks after the Venezuelan navy intercepted two contracted...
News

Busy year ahead for ExxonMobil Guyana as country gallops to first oil

OilNOW -
2019 will be a ‘very busy year’ for ExxonMobil in the new South American oil and gas hotspot of Guyana, as exploration activities are ramped up and work intensifies in preparation for first oil by 2020. “We are currently drilling two...
News

Ex-Halliburton Chairman Dave Lesar to start new oil-services company

OilNOW -
(Bloomberg) Dave Lesar, fresh from retiring as Executive Chairman of Halliburton Co. at the end of 2018, is working on a new venture in the oil patch with funding from private equity firm CSL Capital Management. Lesar, 65, plans to start an...
News

Exxon to be Indonesia’s biggest oil producer in 2019 -regulator

OilNOW -
(Reuters) Exxon Mobil Corp unit Exxon Mobil Cepu Limited is expected to produce 216,000 barrels per day of crude oil in 2019, making it Indonesia’s biggest oil producer, the country’s upstream oil and gas regulator (SKKMigas) said. In second place...
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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,...

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