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Guyana opposition says deliberate attempts being made to delay SWF legislation

OilNOW -
The Government of Guyana will be looking to embark on a fresh round of consultations in the coming year for the establishment of a Sovereign Wealth Fund (SWF) – a move which the political opposition sees as a delay...
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Tullow secures US$2.5B debt refinancing

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Tullow Oil announced on Wednesday that it has completed the refinancing of US$2.5 billion of Reserves Based Lending (RBL) credit facilities. The US$2.5 billion of credit facilities are split between a commercial bank facility of US$2.4 billion and an IFC...
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CNOOC starts oil production at Weizhou oil field

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CNOOC Ltd. (NYSE: CEO) has already commenced production for its Weizhou 12-2 oil field phase II project, the company said on Tuesday. The Weizhou 12-2 oil field phase II project is located in Beibu Gulf in the South China Sea...
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Hess wraps up sale of interests in Equatorial Guinea

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Hess Corporation said Tuesday it has completed the previously announced sale of its interests in offshore Equatorial Guinea to Kosmos Energy and Trident Energy for a total consideration of $650 million, effective January 1, 2017. “Our 2017 asset monetizations have exceeded expectations in terms of value and...
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ExxonMobil begins oil production at Hebron Field

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Exxon Mobil Corporation (NYSE:XOM) today announced that the Hebron project started production safely and ahead of schedule. At its peak, the project will produce up to 150,000 barrels of oil per day. Discovered in 1980, the Hebron field is estimated to...
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ExxonMobil CEO makes first big changes to refining

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(Reuters) - Exxon Mobil Corp Chief Executive Darren Woods is reorganizing the company’s refining operations, part of a push to boost profits amid volatile oil and natural gas prices, the company said on Monday. The changes at the world’s largest...
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Norway’s Statoil to establish onshore integrated operations centre

OilNOW -
Statoil will in 2018 establish a new onshore integrated operations centre (IOC) that will help increase safety, add value and reduce emissions from our installations on the Norwegian continental shelf (NCS). An integrated operations centre (IOC) is an important step...
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High expectations of jobs created riots in African territories – Anthony Paul

OilNOW -
Author of Guyana’s draft local content policy framework, Anthony Paul, is warning that expectations of large-scale job creation in the South American country’s emerging oil and gas sector could lead to serious challenges down the road. Mr. Paul, a UNDP...
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First oil flows from Brazil’s giant Libra Field

OilNOW -
First oil has flowed from Brazil’s giant Libra field operated by Petrobras and a consortium that includes Total, Shell and China’s CNPC and CNOOC, the companies said on Monday. Libra, which has recoverable volumes estimated by oil regulator ANP at...
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Guyana plans to revise PSA model to ensure nation gets fair share of resource wealth – Finance Minister

OilNOW -
The Guyana Government has announced a revision of the way it conducts business with Oil and Gas Exploration Companies, through its use of Production Sharing Agreements (PSA). The announcement was made on Monday as Minister of Finance, Winston Jordan, presented...
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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...

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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