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Tillerson’s departure could shift path on Venezuela oil sanctions – Analysts

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The removal of Rex Tillerson as US Secretary of State could alter the administration's plans for sanctions on Venezuela's oil sector, analysts have said. Tillerson, the former CEO of ExxonMobil, had become a leading advocate for sanctions on Venezuelan exports...
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Oil producer Norway starts wage talks to avert widespread strikes

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(Reuters) - Norwegian employers and labor unions embarked on four weeks’ of wage talks on Monday to stave off widespread strikes that risk impacting output in western Europe’s biggest crude producer. Unlike most years, in which wages are set on...
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Ecuador seeks $800M investment in oil & gas bid

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(Reuters) - Ecuador on Tuesday launched a bidding round for foreign companies to develop oil and gas reserves, hoping to attract some $800 million in investment to boost production in the Andean nation’s sluggish economy. Winners will operate four oil...
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Trump fires Tillerson, taps Pompeo as next Secretary of State

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(CNN) President Donald Trump has fired Secretary of State Rex Tillerson and will nominate CIA Director Mike Pompeo to replace him. "Mike Pompeo, Director of the CIA, will become our new Secretary of State. He will do a fantastic job!...
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Noble crew member wants fellow Guyanese to get on board

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A Guyanese crew member working on the Noble Bob Douglas drillship that will soon depart the Gulf of Mexico to begin development of the Liza oil field in the South American nation is calling on his countrymen to get...
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Hess planning ‘investor day’ for Guyana oil bonanza

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Hess Corporation continues to be encouraged by positive results coming out of Guyana where, in partnership with CNOOC Nexen and the operator - ExxonMobil - 3.2 billion recoverable barrels of oil have been confirmed from 5 out of a...
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Natural gas exporters want oil-linked pricing to maintain supply

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(Bloomberg) The debate over how to price natural gas is settled, at least for exporters, and oil-indexing should prevail. Prices have to be linked to crude oil to keep expected revenue predictable, with some $8 trillion of investments in the...
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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”

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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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An inside look at the complex nature of moving a drillship 

Relocating a drillship requires careful planning and execution, according to Richard Wells, International Logistics Manager at Stena Drilling, who...

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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