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Petrobras: New Mero field contains 3.3 billion barrels of oil

OilNOW -
(Offshore) Brazilian oil company Petrobras has declared commerciality of the field in the Libra Northwest area, in the pre-salt of Santos Basin off Brazil, renaming it Mero. Namely, Petrobras said in its statement last Thursday that it had submitted the declaration...
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T&T Senator urges police action at Petrotrin

OilNOW -
The Fraud Squad should be sent to Petrotrin to examine the state-owned oil company’s books in light of the A&V Oil and Gas Limited scandal, Opposition Senator Gerald Ramdeen urged on Tuesday as he spoke on Senator Wade Mark’s...
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U.S. tax reform supports oil and gas

OilNOW -
(Maritime Executive) The U.S. Senate approved a revised Tax Cuts and Jobs Act on Saturday, that API President and CEO Jack Gerard applauds as pro-growth and pro-development. “With this morning’s Senate vote, Congress is poised for the first time in...
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First Mobil-branded service stations to open in Mexico

OilNOW -
ExxonMobil announced today a partnership with retailer Grupo Orsan to open eight Mobil-branded service stations this week in Querétaro as part of the company’s entry in Mexico’s fuels market. ExxonMobil plans to open 50 Mobil stations in the Bajio region...
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Guyana President stresses ‘people before profits’ at UN meeting in Kenya

OilNOW -
Guyana’s President, David Granger, told those gathered at the United Nations Environment Assembly in Nairobi, Kenya on Monday that people must come before profits in the extractive industry. The Head-of-State also shared a three-pronged approach, geared towards helping small...
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Guyana preparing ICT sector for “economic leaps and bounds” – Telecoms Minister

OilNOW -
Guyana’s Minister of Public Telecommunication, Cathy Hughes, says Information Communication Technology (ICT) has become the main ingredient for development globally and the South American country will be moving to ensure that the ICT sector is prepared for the emerging...
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After 2.5 billion barrels Eagle Ford has more oil coming

OilNOW -
(Hart Energy) Mark Twain would appreciate irony in the Eagle Ford Shale, where rumors of the play’s impending exhaustion are greatly exaggerated. The Eagle Ford has produced 2.5 billion barrels (Bbbl) of oil and will generate another 2.1 Bbbl, according...
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Mega oil & gas reserves detected…but on Saturn’s moon

OilNOW -
Saturn's orange moon Titan has hundreds of times more liquid hydrocarbons than all the known oil and natural gas reserves on Earth, according to data from NASA's Cassini spacecraft. The hydrocarbons rain from the sky, collecting in vast deposits...
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Statoil delivers $5.9B plan for Arctic Johan Castberg Project

OilNOW -
Statoil and partners have delivered to Norwegian authorities a $5.9 billion development plan for their massive Arctic Johan Castberg oil discovery, having halved costs for the project that now has a $35-per-barrel breakeven price. The development, which Statoil calls the biggest...
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Restrictive local content measures can hurt oil companies – British High Commissioner

OilNOW -
British High Commissioner to Guyana, Greg Quinn, believes careful consideration must be given to the establishment of guidelines for the use of local content in the oil & gas industry since measures which are too restrictive can serve to...
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Guyanese businesses can benefit by joining Exxon’s virtual Feedback Session slated for Dec. 13

By Clement Smith - OilNOW Guyanese businesses interested in tapping into the oil and gas sector or already operating in...

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