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Liza Destiny contractor ramping up human resources in Guyana

OilNOW -
ExxonMobil’s prime contractor SBM Offshore; the company that is building the Floating, Production, Storage and Offloading Vessel (FPSO) for oil production in Guyana, is looking to fill a number of positions as preparation for first oil gets underway. Through its...
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ExxonMobil adds more than 88,900 acres to deepwater holdings in Brazil

OilNOW -
ExxonMobil has increased its holdings in Brazil’s pre-salt basins after winning the Uirapuru exploration block with co-venturers Equinor and Petrogal Brasil during Brazil’s 4th pre-salt bid round. The block awarded adds about 88,900 net acres to the ExxonMobil portfolio, expanding the...
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Guyanese tech company catapulted to world stage after building ExxonMobil supplier portal

OilNOW -
Information and Communication Technology (ICT) company BrainStreet has been catapulted to the international arena after building the Supplier Registration Portal for ExxonMobil’s Centre for Local Business Development (CLBD) in Guyana. The 100% Guyanese owned company, in operation since 1994, took...
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Deepwater ‘super basins’ could be windfall for oil stocks – WoodMac VP

OilNOW -
Guyana is among the most interesting deepwater basins in the world, Andrew Latham, vice president of exploration research at Wood Mackenzie, told IBD. He noted that ExxonMobil and Hess make discoveries with almost every well they drill in the region. "They...
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Venezuela’s PDVSA raises prospect of force majeure on oil exports -sources

OilNOW -
(Reuters) OPEC member Venezuela has raised the prospect of declaring force majeure on contracts with major crude buyers amid plummeting output from its oil fields and tanker bottlenecks at ports, according to three sources familiar with the matter. Falling production...
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Repsol shows faith in oil’s rally with dividend, spending boost

OilNOW -
(Bloomberg) -- Repsol SA, Spain’s largest oil producer, plans to raise dividends and investments over the next two years on a bet that crude will remain above $50/bbl. The scrip dividend -- a payout to shareholders in stock -- will climb...
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Venezuela will head to ICJ for border controversy case with Guyana

OilNOW -
Venezuela's government is signaling its intent to go to the International Criminal Court (ICJ) to defend its claim in proceedings brought forward by Guyana regarding the ongoing territorial controversy between the two South American neighbours. According to a report on Telesur,...
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US$14M spent on services from 227 local suppliers for Q1 2018 in Guyana

OilNOW -
The Guyana government on Tuesday published a list of companies and individuals who are supplying goods and services in support of ExxonMobil operations in the South American country. The list of 227 local suppliers which ExxonMobil and its contractors have...
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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

OilNOW -
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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Europe took all of Guyana’s Golden Arrowhead oil cargoes lifted in September

Europe received all four cargoes of Golden Arrowhead crude oil lifted from ExxonMobil’s Yellowtail project in September, according to...

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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