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Hess reports US$106M net loss; Guyana remains shining light in company’s outlook

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Hess Corporation (NYSE: HES) on Wednesday reported a net loss of $106 million, or $0.38 per common share, in the first quarter of 2018, compared to a net loss of $324 million, or $1.07 per common share, in the...
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GRA head says no tax evasion by oil companies under his watch

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Commissioner General of the Guyana Revenue Authority Godfrey Statia told reporters at a press conference on Tuesday that oil companies would not be allowed to evade paying taxes under his watch. The head of the South American country’s tax body...
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Liza SURF contractor Saipem posts loss of $2.4M in Q1 2018

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ExxonMobil Guyana Tier 1 contractor Saipem has narrowed its losses to $2.4m for the first quarter of 2018. The Italian oil and gas company's Q1 2018 loss marks an improved financial performance, following the $331m loss reported in Q4 2017. However, the Milan-based firm, operational in Saudi...
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Large oil spill “statistically unlikely” but preparation is key – Exxon Country Manager

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Speaking at the opening of a major capacity building workshop on Oil Spill Response in the South American country of Guyana, Country Manager of ExxonMobil, Rod Henson, stressed the importance of being prepared, even while highlighting that the likelihood...
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Orinduik 3D seismic identifies ‘potentially sizeable structures’ offshore Guyana

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Eco (Atlantic) Oil & Gas Ltd. says it is encouraged to date by the quality of data received and interpretations being made based on the 3D seismic survey conducted on the company’s Orinduik Block, offshore Guyana. Data collected and...
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Reuters: Arrested Chevron workers could face treason charge in Venezuela – sources

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(Reuters) - Two Chevron Corp. employees detained in Venezuela last week could be charged with treason for refusing to sign a parts contract for a joint venture with state-owned oil company PDVSA, according to two sources familiar with draft...
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Saipem secures contracts in Offshore Drilling and Offshore E&C

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ExxonMobil Guyana Tier 1 contractor Saipem has been awarded new contracts in Offshore Drilling involving the sixth-generation semi-submersible rig Scarabeo 8, suitable for harsh environments. Drilling activities will take place offshore Norway, and will last approximately 10 months, excluding...
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45% of data capture complete in hunt for petroleum offshore Jamaica

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The most advanced survey ever to be carried out in search of petroleum in Jamaica is just over 45% complete after which an analysis of the data will be undertaken to determine the findings. According to an April 19 report...
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CNOOC wants China to speed up reform of fuel pricing

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Chinese operator CNOOC Ltd, a joint venture partner together with ExxonMobil and Hess in the Stabroek Block offshore Guyana, is calling on Beijing to speed up the liberalisation of its retail fuel pricing scheme as high diesel and gasoline...
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“It’s not all about oil…it’s about investing in Guyanese” – TOTALTEC

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As the oil age dawns on Guyana in 2020, there is little time to prepare the hundreds of Guyanese that need to be trained in the basics of Oil and Gas and to obtain the necessary certifications that provide...
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SLB secures multi-region deepwater contracts from Shell

Shell has awarded major drilling contracts to SLB, a global energy technology company. These contracts aim to support energy...

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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