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500,000 bpd forecast based on production from Liza, Payara and Pacora

OilNOW -
Oil production in Guyana is expected to surpass the 500,000 barrels per day mark by the end of the next decade based on production from several offshore developments. OilNOW recently sat down with ExxonMobil Guyana’s Senior Director, Public and Government...
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Guyana told: Petroleum revenues volatile; prepare for shocks – Norwegian Economist

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Guyana continues to receive advice from experts in the field of revenue management who point to the vital importance of establishing a Sovereign Wealth Fund (SWF) with strong fiscal rules in order to effectively manage the billions of US...
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Toronto oil company raises US$100M for exploration in South America

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Toronto-based Frontera Energy has closed a US$100M revolving letter of credit (LC) facility which will finance oil and gas exploration in South America. Arranged by Itaú Corpbanca Colombia, Citibank, JP Morgan, HSBC and Bank of America Merrill Lynch, the funds...
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Qatar Petroleum buys stake in Exxon’s Argentina shale assets

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(Reuters) - Qatar Petroleum signed an agreement on Sunday with Exxon Mobil to acquire a 30 percent stake in two of Exxon’s affiliates in Argentina, giving QP access to oil and gas shale assets in the Latin American country. The...
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G7 countries pour $100bn a year into oil, gas and coal: study

OilNOW -
Each year, at least US$100 billion goes to support the production and consumption of oil, gas and coal, according to a major new study published on Monday (4 June). That is despite a promise from all G7 and G20...
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Fiscal rules can help Guyana avoid resource curse – Polish Economist

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Polish Economist Ludwik Kotecki believes that strong fiscal rules will play a vital role in the management of oil revenue by helping Guyana avoid commodity price shocks, pro-cyclical government expenditures and the Dutch Disease; all elements of the dreaded...
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Brazil’s president scrambles to name new Petrobras CEO

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(Reuters) - Brazilian President Michel Temer scrambled to name a new chief executive for state-controlled oil producer Petroleo Brasileiro SA on Friday, after the surprise resignation of CEO Pedro Parente over fuel pricing policies. Parente’s departure wiped $11 billion off...
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Total determined to drill Amazon Basin despite Greenpeace protest

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Total (NYSE: TOT) is determined to push ahead with its plans to drill for oil in the Amazon Basin, it said on June 1 as Greenpeace activists interrupted its annual general meeting in protest at the project. The French oil major...
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Woodbury retires, replaced by Hansen

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Exxon Mobil Corporation (NYSE:XOM) said Friday that Jeff Woodbury, Vice President of Investor Relations and Secretary, has elected to retire after 35 years of service. The Board of Directors has elected Neil Hansen, Downstream Controller, as Vice President of Investor...
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ExxonMobil spuds first development well for Liza Phase 1 in Guyana

OilNOW -
ExxonMobil spudded the first of 17 wells for the Liza Phase 1 development in Guyana on May 8 in what is being described as a landmark occasion by the company. The first well also happens to be a ‘producer...
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SBM Offshore’s Blue Ammonia FPSO design wins ABS approval

SBM Offshore has received approval in principle from the American Bureau of Shipping (ABS) for a new floating production,...

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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