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Chevron’s quarterly profit more than doubles on rising oil prices

OilNOW -
(Reuters) U.S. oil and natural gas producer Chevron Corp. said on July 27 its quarterly profit more than doubled on rising oil prices and production. Production rose about 2% to 2.83 million barrels of oil equivalent per day. The company posted...
News

ExxonMobil continues support of Guyanese agro-businesses

OilNOW -
Oil giant ExxonMobil on Saturday, July 28, continued its efforts to support Guyanese small businesses by being the lead sponsor of the ‘Uncapped Marketplace’ held at the Leonora Track and Field Center, on the West Coast of Demerara. The event...
News

Guyana Private Sector body wants New York Times to ‘remedy’ misrepresentations in July 20 article

OilNOW -
The Private Sector Commission of Guyana has written to Publisher of the New York Times, Arthur Sulzberger, protesting what it describes as "misrepresentations" outlined in an article published on July 20, 2018, under the headline ‘The $20 Billion Question for...
News

Guyana tops the world in discovered resources for first half 2018

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Guyana leads the top five countries in the world in terms of total discovered resources added in the first half of 2018, followed by the United States, Cyprus, Oman and Norway… Global discoveries of conventional oil and natural gas are seeing an exciting recovery...
News

Cabinet to further review proposed spending of O&G revenue; Parliament to get document by August

OilNOW -
Guyana’s Cabinet has reviewed the proposal by the Ministry of Finance for the spending of revenues garnered from the country’s emerging petroleum industry but will be further scrutinizing the proposal on Tuesday, July 31. Addressing medial operatives at his Main Street,...
News

World Bank provides US$35M to support Guyana O&G preparations

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The World Bank and Guyana’s Minister of Finance Winston Jordan on Friday, July 27, signed a policy-based loan agreement for US$35 million to support the creation of the financial framework necessary for the Oil and Gas (O&G) industry. This loan...
News

ExxonMobil earns $4 billion in Q2; Guyana among key projects pushing growth plan

OilNOW -
Exxon Mobil Corporation announced on Friday, July 27, its estimated second quarter 2018 earnings of $4 billion, or $0.92 per share assuming dilution, compared with $3.4 billion a year earlier. Guyana continues to play a key role in pushing the company’s...
Exploration

Guyana ‘uniquely advantaged by scale, reservoir quality, cost and rapid returns’ – Hess

OilNOW -
The more than 4 billion oil-equivalent barrels discovered to date in the Stabroek Block offshore Guyana is uniquely advantaged by its scale, reservoir quality, cost, rapid cash paybacks and superior financial returns. John Hess, Chief Executive Officer of Hess Corporation...
News

Third drillship to arrive in Guyana by year-end; ExxonMobil still to decide on contractor

OilNOW -
As exploration and production activities continue to ramp up offshore Guyana, US oil major ExxonMobil will engage another drillship to aid in the search for more oil. This vessel will be the third such drillship, joining the Stena Carron...
News

BP set to acquire $10.5B in shale assets from BHP

OilNOW -
In a move that will upgrade and materially reposition its US onshore oil and gas business, BP has agreed to acquire a portfolio of world-class unconventional oil and gas assets from BHP. The acquisition will bring BP extensive oil...
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President Ali wants Guyana’s private sector to form supply vessel group for offshore assignments

Guyana President Irfaan Ali on Friday urged the country’s private sector to form a consortium capable of joining offshore...

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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