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Noble reports net loss for Q1 2018; expects fleet utilization to ramp up

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Noble Corporation, the same company contracted by ExxonMobil to drill 17 wells for the Liza Phase 1 development in Guyana, on Wednesday reported a net loss for the three months ended March 31, 2018 of $142 million, or $0.58 per diluted share, on revenues...
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Guyana organized labour force told O&G will transform country into Caribbean Jewel

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Guyanese public servants on Monday heard that the nation’s emerging oil and gas sector holds the potential to turn the country into the ‘jewel of the Caribbean' but the country’s labour leaders believe the resource is no panacea and...
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Positive cash flow from Guyana may not come before 2022 – Hess

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Hess Corporation does not expect oil production in the South American country of Guyana where it has a 30% stake in the Stabroek Block, to turn a profit for the company before 2022 when the larger Liza Phase 2...
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Anadarko posts Q1 2018 profit

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Anadarko Petroleum Corp reported a quarterly profit on Tuesday as higher crude prices helped the oil and gas producer earn more per barrel. The company, which had its vessel seized by Venezuela while conducting a seismic study off the Guyana...
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Petrobras chips away at debt with asset sales

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(Hart Energy) Brazil’s Petrobras intends to raise US$21 billion with the sale of assets by the end of this year, according to its 2018-2022 business plan, as the company works to lower debt while carrying out activities, mainly in...
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Guyana oil spill response plan in line with international guidelines – CDC Director General

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Guyana’s National Oil Spill Contingency Plan has benefited from the input of several notable international organizations and following a series of reviews, the document will be open for public consultations in the South American country. Director General (ag) of the...
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BP says still sees oil at $50-$60/bbl in 2018 as shale output surge

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(Reuters) - BP expects benchmark oil prices to weaken in the second half of the year as U.S. shale production surges by up to 1.5 million barrels per day, Chief Financial Officer Brian Gilvary said on Tuesday. The London-based oil...
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Sorubim does not condemn prospect opportunities in Stabroek Block – Exxon VP

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Responding to a question during its quarterly earnings conference call on Friday, Exxon Mobil Corporation’s Vice President of Investor Relations and Secretary, Jeffrey Woodbury, said the dry hole encountered at the Sorubim-1 well offshore Guyana does not condemn prospect...
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Oil industry is exciting but focus on agriculture equally important – Brasington

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ExxonMobil Guyana says it recognizes the important role agriculture plays in the South American country and is committed to continuing efforts that would support the growth and development of the sector. The company was a key sponsor of Uncapped Marketplace...
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World Bank US$20M loan package to include experts for SWF workshop

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Two international experts are being provided to Guyana as part of a US$20M oil and gas assistance loan package from the World Bank, in order to help the country develop its Department of Energy. The country's State Minister, Joseph Harmon...
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Guyana continues to defy expectations, says U.S. market intelligence firm

Americas Market Intelligence (AMI) has once again placed Guyana in a category of its own, labeling it as “great”...

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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