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Exxon reigns supreme as world’s largest oil company

OilNOW -
ExxonMobil, which has weathered the plunge in oil prices, has held onto its title as the world's largest oil company, according to Forbes. The Texas-based company is No. 13 on Forbes' 2017 Global 2000 list of the world’s biggest and most...
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Repsol nets over 1.5B euros in profit

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Repsol is reporting that it earned a net profit of 1.583 billion euros in the first nine months of 2017, 41% more than during the same period of the previous year, in which the company earned 1.12 billion euros. A...
News

EITI calls US withdrawal from the anti-corruption body “disappointing, backwards step”

OilNOW -
On Thursday the United States government announced that it was discontinuing EITI implementation with immediate effect. EITI Chair, Fredrik Reinfeldt, issued the following statement: This is a disappointing, backwards step. The EITI is making important gains in global efforts to address corruption...
News

Guyana’s President vows to align oil transformation with green agenda

OilNOW -
Guyana’s President, David Granger, says his government is committed to ensuring that the transformation expected from the oil and gas industry is closely aligned with the country’s green development agenda. Addressing the opening of the 71st Sitting of the 11th Parliament...
News

Hess captures leadership status in CDP’s Global Climate Analysis

OilNOW -
Hess Corporation (NYSE:HES) has been recognized for climate change stewardship, achieving leadership status in CDP’s 2017 Global Climate Analysis. Hess is the only U.S. energy company to achieve leadership status. This is the ninth consecutive year that Hess earned this...
News

U.S. withdraws from extractive industries anti-corruption effort

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(Reuters) - The United States has withdrawn from the Extractive Industries Transparency Initiative (EITI), an international effort to fight corruption in managing revenues from oil, gas and mineral extraction. EITI calls US withdrawal from the anti-corruption body “disappointing, backwards step” There...
News

Military chief urges soldiers to be vigilant against trans-border crime as O&G industry takes off

OilNOW -
Chief of Staff of the Guyana Defence Force (GDF) Brigadier Patrick West is urging ranks to be vigilant and guard against new border threats which may emerge with the advent of the South American country’s oil and gas industry. This...
Exploration

Exploratory wells in the Orinduik Block to cost around US$35M

OilNOW -
The cost for exploratory wells in the Orinduik Block is expected to amount to approximately US$35M with Eco Atlantic’s participating interest anticipated to be around US$5.25 Million per well. The company has since entered into an option agreement on the block...
News

Regulator cuts UK oil and gas estimates

OilNOW -
(BBC) The oil and gas offshore industry regulator has reduced its estimates of the amount of known oil and gas left under UK waters. The amount in known reserves and capable of extraction has dropped from 6.3 billion barrels to...
News

Exxon says fire contained at Baton Rouge, La. refinery

OilNOW -
(Reuters) - ExxonMobil Corp said on Wednesday that a fire that occurred at its 502,500 barrel-per-day (bpd) Baton Rouge, Louisiana refinery on Wednesday morning was contained to the area. There were no injuries and no impact to community, a company...
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Fiscal terms in Guyana, Namibia, Angola ‘striking the right balance’ – WoodMac

Global provider of data and analytics, Wood Mackenzie, said host governments, such as those in Guyana, Namibia, and Angola,...

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