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Top official promises Guyanese ‘good life’ from oil bounty

OilNOW -
With oil reserves in Guyana now exceeding 5.5 billion barrels from a record 13 discoveries made to date by US oil major ExxonMobil, a top official in the country with responsibility for petroleum is promising Guyanese the ‘good life’...
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TechnipFMC secures contract iEPCI contract for TOR development

OilNOW -
TechnipFMC (Paris:FTI) (NYSE:FTI) has been awarded an integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract from ConocoPhillips for the TOR II development, located in the Norwegian sector of the North Sea at a water depth of 80 meters. This contract...
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Halliburton records $5.7 billion revenue for Q1 2019

OilNOW -
Halliburton Company (NYSE:HAL) announced today net income of $152 million, or $0.17 per diluted share, for the first quarter of 2019. This compares to net income for the first quarter of 2018 of $46 million, or $0.05 per diluted...
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Pipeline leak forces Petrobras to halt production at P-25 platform

OilNOW -
Brazil's state-run oil company, Petrobras, said Monday it has halted production at platform P-25 in the Albacora field after identifying an oil spill from the offshore pipeline located in the northern region of the Campos Basin, about 110 kilometers...
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Keppel nets S$203m in profit for 1Q 2019

OilNOW -
Keppel Corporation Limited (Keppel) reported a net profit of S$203 million for the first three months of 2019, 40% below that of S$337 million for 1Q 2018. In 1Q 2018, the Group benefitted from a S$289 million gain arising...
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Centralise resource-revenue management to boost economic growth and development

Bobby Gossai, Jr. -
One of the main risks of rising inequality in resource-rich countries; is the response on how to divide resource revenues between central and subnational governments. Indeed, there now appears to be a global trend toward the decentralization of petroleum...
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ExxonMobil contracts Noble Don Taylor for Guyana drill campaign

OilNOW -
ExxonMobil has contracted the drillship Noble Don Taylor for operations offshore the South American country of Guyana. This is according to a fleet status report from Noble Corporation which was published on April 18, 2019. The Noble Don Taylor has...
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BP, partners sanction $6 billion Azeri project

OilNOW -
BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea. BP said on Friday the $6 billion development...
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Guyana oil bounty pushing demand for more drill capacity

OilNOW -
On the heels of its record 13th discovery offshore Guyana, US oil major ExxonMobil is looking to ramp up its exploration and production activities in the South American country with the addition of yet another drillship to its fleet,...
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Appraisal drilling underway at Hammerhead

OilNOW -
Appraisal drilling is underway at the Hammerhead field in the Stabroek Block offshore Guyana as US oil major ExxonMobil continues to assess discoveries and expands its operations in the South American country. Guyana Maritime Administration Department said this week ExxonMobil...
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Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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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