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Hess Corporation expects significant returns on Guyana investment

OilNOW -
The announcement by ExxonMobil Corporation on Friday of a 6th oil discovery off the coast of Guyana has further cemented the view that investment in exploration and production activities in the South American country will see significant returns. Even before...
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OPEC’s moves to determine fate of oil markets in 2018

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After a volatile 2017, oil markets turn towards 2018 and the topics that will dominate the next 12 months. Below Stratas Advisors sorted the risks into four main topics that its analysts predict will dominate the 2018 news cycle. What...
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TT’s economy to benefit from BP’s Juniper project in 2018 – Kevin Ramnarine

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Former Minister of Energy in Trinidad and Tobago, Kevin Ramnarine, believes that during 2018 the country's economy will benefit from petroleum production by BP’s Juniper project; said to be the largest new project there in several years. BP has invested around...
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PSC decries ‘lack of local content’ in ExxonMobil agreement

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In wake of the release of the ExxonMobil contract on December 28, 2017, the Private Sector Commission (PSC) has decried what it describes as a paucity of benefits for the business community and hopes that this can be addressed...
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Guyana’s long promised blessing being released – Trotman

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The announcement on Friday of a 6th oil discovery off the Guyana coast by US oil major, ExxonMobil, has further cemented Guyana’s place as a significant emerging petroleum producer in the region. The South American country’s Minister of Natural Resources,...
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CGX, Repsol sign on as GIPEX 2018 Gold Sponsors

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Spanish Company Repsol Exploracion Guyana S.A. and Canadian Company CGX Energy inc. have signed on to the Guyana International Petroleum Business Summit - GIPEX 2018 - as Gold Sponsors, weeks following ExxonMobil’s coming on board the event as its...
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Exxon makes ‘significant’ oil discovery at Ranger-1 offshore Guyana

OilNOW -
US oil major ExxonMobil announced today positive results from its Ranger-1 exploration well, marking the company's sixth oil discovery offshore Guyana since 2015. The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot,...
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Supermajors cautious on exploration; cut spending on O&G for 5th consecutive year

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ExxonMobil, along with other world leading oil exploration companies including Royal Dutch Shell and Total are slowing down exploration efforts despite there being the strongest start for oil prices in four years. This is according to a recent report from analyst...
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Summer of milestones in 2017 led to sanctioning of Liza Phase 1 – Exxon Country Manager

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ExxonMobil Guyana Country Manager Rod Henson says the company along with its partners Hess and CNOOC Nexen were able to achieve some key objectives in 2017 which lead to a final investment decision being made for the Liza Phase...
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Gasoline prices just jumped 127% in Saudi Arabia

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(Bloomberg) The cost of living is rising for Saudis this year as the government raises gasoline prices and introduces value-added taxation to plug the budget deficit. The central bank forecasts inflation to average 5.7 percent in 2018 from a negative...
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Guyana gov’t can withdraw up to 96% of last year’s oil earnings in 2025 budget

The Guyana government can withdraw 96% of its 2024 earnings from the oil sector, based on the withdrawal rule...

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