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Noble drillship equipped with fail-safe mechanism to keep vessel in position during an emergency

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With no physical anchor embedded in the sea floor, the Noble Bob Douglas drillship currently searching for oil off the Guyana coast remains in position through the use of a sophisticated computerized system controlled and monitored around the clock...
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Guyanese among crew poised to embark on historic drill campaign aboard Noble Bob Douglas

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Currently positioned approximately 88 nautical miles off the Guyana coast in the deep blue waters of the Atlantic Ocean, the Noble Bob Douglas hovers above the 13th well being drilled by ExxonMobil in the Stabroek Block. The US oil...
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Laid-off sugar workers finding hope in Guyana’s petroleum industry

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Several sugar workers who lost their jobs when estates began closing in Guyana last year have now been given a second chance at acquiring new skills and gaining employment in the oil and gas industry through the operations of...
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Curtain drawn back on the energy giant that makes more profit than all of Big Oil combined

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For the first time in 40 years Saudi Aramco numbers have been revealed — and they are huge — in fact the world’s biggest For four decades the financial performance of Saudi Aramco has been one of the biggest secrets...
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Oil falls after Trump criticizes OPEC for artificially high prices

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(Reuters) - Oil prices fell on Friday after U.S. President Donald Trump criticized OPEC and said oil prices were artificially high, but they were still set for a weekly gain. Brent crude oil futures LCOc1 were at $73.01 per barrel...
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Ranger and Pacora discoveries among 6 CNOOC made for Q1 2018

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CNOOC Limited achieved total net production of 120.1 million barrels of oil equivalent for the first quarter of 2018, representing an increase of 0.8% year over year. According to a statement from the company, production from offshore China decreased...
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Despite chaos oil major Total says it will not leave Venezuela

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French oil major Total S.A. says despite declining production and immense hardships it will remain in Venezuela. The South American oil producing nation has tumbled into an economic and social crisis, with millions suffering food and medicine shortages. Since last...
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Int’l experts say frontier countries offer ‘favourable fiscal terms’ to secure oil deals

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It is not uncommon for countries with little or no proven oil reserves to offer prospective investors favourable fiscal terms in an effort to kick-start their petroleum ambitions says the International Monetary Fund (IMF), Norway-based industry analyst, Rystad Energy...
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Sovereign Wealth Fund critical to Guyana benefiting from billions in oil revenue – Commonwealth

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The small South American country of Guyana is on the verge of receiving big money when oil from the giant Liza field begins flowing in less than two years. However, the extent to which this newfound wealth benefits the...
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Venezuela arrests two Chevron executives amid oil purge

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(Reuters) - Chevron Corp (CVX.N) said on Tuesday two of its executives were arrested in Venezuela, a rare move likely to spook foreign energy firms still operating in the OPEC nation stricken by hyperinflation, shortages and crime. Venezuelan Sebin intelligence...
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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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