News

News

ExxonMobil to ramp up Permian production to 600,000 barrels

OilNOW -
ExxonMobil today announced that it plans to triple total daily production to more than 600,000 oil-equivalent barrels by 2025 from its operations in the Permian Basin in West Texas and New Mexico. Tight oil production from the Delaware and Midland...
News

The death spiral of Venezuela’s oil sector and what can be done about it

OilNOW -
(Forbes) The Venezuelan oil sector is on a death spiral despite having one of the largest resource endowments in the world. According to its report to OPEC, Venezuela’s production was 1.62 million barrels per day (b/d) in December 2017, a...
News

Brazil’s Petrobras promises dividend as soon as it returns to profit

OilNOW -
(CNBC) The semi-public company Petrobras has promised to start paying dividends to shareholders again, as soon as it returns to profit after being hit by several scandals in recent years. Petrobras, one of the largest companies in Latin America and...
News

Guyana could be producing over 10 million barrels of oil monthly by 2022

OilNOW -
Monthly oil production in the South American country of Guyana could top the 10 million barrel mark by 2022 with the coming on stream of a second phase of development in the prolific Liza field located approximately 120 miles...
News

Exxon’s $50-billion bonanza returns spending to pre-rout level

OilNOW -
(Bloomberg) -- ExxonMobil Corp. is set to spend $50 billion over the next half decade in a return to the oil giant’s spending habits before crude suffered its worst price rout in a generation. With oil prices now hovering above $65/bbl...
News

Guyana/Suriname explore joint O&G shore base facility

OilNOW -
The Guyana Government is looking to put systems in place for the country’s oil and gas industry which could stretch well into the next half century. As such, serious consideration is being given to the establishment of an onshore...
News

Chevron, SBM and Schlumberger among big name companies onboard for GIPEX 2018

OilNOW -
Several more big name companies in the oil and gas industry have signaled their intent to be part of a major petroleum summit taking place in Guyana next month. The South American country now regarded as the next oil...
News

Upstream expenditures expected to grow in 2018 to US$400 billion – WoodMac

OilNOW -
(Offshore Engineer) Believing that major spending cuts are over, Wood Mackenzie expects global upstream capital expenditures to grow slightly in 2018 to a total of US$400 billion. The downturn resulted in nearly $1 trillion being taken out of company spending...
News

TMC to equip newbuild FPSO

OilNOW -
International compressor supplier TMC Compressors (TMC) has won a contract from Shanghai Waigaoqiao Shipbuilding Co., Ltd (SWS) to supply the marine compressed air system to a newbuild FPSO the yard is currently constructing for SBM Offshore. SBM Offshore is the...
News

CGX ‘indigenous’ position helped it secure extension on petroleum license in Guyana

OilNOW -
Guyana views CGX Energy - the first company to embark on large-scale oil exploration off the country's coast – as an indigenous company and this has played a role in the granting of an extension on its Petroleum Exploration...
1...861862863...940Page 862 of 940

Latest News

NewsOilNOW -

Exxon not backing out of Block S8 talks – Jagdeo 

ExxonMobil, Hess and CNOOC are not backing out of talks with the Guyana government for a shallow water block...

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.

Quick Access

Company Info

Social Networks