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At $232 billion world’s 3rd-largest oil major looks dirt cheap

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PetroChina and Chevron Corp. have vied for the spot of third-largest publicly traded oil company -- after Exxon and Shell -- since mid-2016. As of Monday, PetroChina’s market capitalization has averaged almost $232 billion so far this year, compared...
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Hess moves to buy back US$1B in shares as Guyana gets “bigger, better”

OilNOW -
Hess Corporation said on Thursday that its Board of Directors has authorized the purchase of $1.0 billion of Hess common stock by the end of 2018. The newly authorized program is in addition to the $500 million share repurchase program Hess announced in late...
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IMF finds Guyana US$18M signing-bonus ‘relatively high’ – Trotman

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The Guyana government believes the US$18M signing bonus it received from ExxonMobil - part of a modified 2016 Production Sharing Agreement (PSA) - is relatively high given the risks involved and the fact the country is still not a...
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More discoveries coming; Guyana seen as ‘deepwater sweet spot’ – Wood Mack

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More oil discoveries offshore the South American country of Guyana are expected to be made as exploration continues on the back of an already discovered 3.2 billion recoverable barrels. Industry Analyst Wood Mackenzie believes that globally, the most-favoured plays will...
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Colombia jumps into Latam oil auction wave; to award blocks in April

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(Reuters) - Colombia plans to award up to 15 oil blocks next month and will begin routinely offering onshore and offshore areas for exploration and production in May, the head of the country’s energy regulator told Reuters. The move, Colombia’s...
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Shell says oil’s not going anywhere

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(Bloomberg) There’ll be at least one home still welcoming fossil fuels in the face of a growing threat from cleaner resources, according to Royal Dutch Shell Plc. Heavy industry relies on hydrocarbons to generate extremely high temperatures and chemical reactions,...
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Guyana fast-tracked Liza development to protect sovereignty

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Guyana on Friday acknowledged a move to strategically fast track the development of the Liza oil field in the Stabroek Block by US oil major ExxonMobil in order to assert its sovereignty over the territory ahead of the International...
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Guyana President will directly oversee new Petroleum Department

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The Petroleum Department which is to be set up soon in Guyana will be directly guided by the country’s Head-of-State, President David Granger, while Minister of State, Joseph Harmon will handle all matters related to the Department, in the...
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BP: The rise of the robots

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(BP) Until now, offshore operators have conducted diligent inspections of facilities while clad in safety harnesses hanging off the side of an oil and gas platform. But, the latest technology is providing better solutions on BP's Thunder Horse platform...
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Commercialization of gas from Guyana’s oil fields will be growing challenge – Wood Mack

OilNOW -
As more oil discoveries continue to be made offshore the South American country of Guyana the commercialization of gas will become a bigger challenge. Analyst Wood Mackenzie says lack of infrastructure and a visible marketization plan for commercializing gas which...
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Six FPSOs targeting over five billion barrels of oil at Stabroek Block – Hess

Hess Corporation has revealed that nearly half of the Stabroek Block’s massive 11.6-billion-barrel reserve will be tapped with six...

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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