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Oil drops below $50 on US climate exit

OilNOW -
Brent oil fell below $50 today, as concerns about the impact U.S. President Donald Trump's decision to exit the Paris climate agreement could have on drilling in the United States. Analysts believe Trumps decision could result in an increase...
News

JUST IN: Guyana to earn 2% royalty from Liza field production; project deemed “technically sound”

OilNOW -
Guyana will be earning a 2% royalty on gross earnings from the Liza oil field production. This will come, along with a 50/50 Production Sharing Arrangement, in which Guyana earns half of the ‘profit oil’ revenue while the other half...
Exploration

Guyana finalizing ExxonMobil production license; public disclosure on agreement likely

OilNOW -
Guyana’s Minister of Natural Resources Raphael Trotman said today that government is in the process of finalising ExxonMobil’s production license and will be “making some pronouncements in the next few weeks.” Mr. Trotman made the announcement to stakeholders at...
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ExxonMobil CEO says oil demand will grow in coming decades

OilNOW -
Exxon Mobil Corp. investors backed a resolution urging the oil giant to consider whether it can prosper under strict greenhouse gas limits in a vote coming amid reports President Donald Trump may soon abandon the 2015 Paris Climate Accord. According...
News

Henson takes up leadership of ExxonMobil frontier operations in Guyana

OilNOW -
ExxonMobil’s newly installed Country Manager in Guyana, Rod Henson, will be looking to continue the stretch of good fortune seen by the company over the last 2 years, offshore the South American country. Exxon made the biggest oil discovery...
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OSRL Signs MoU with Trendsetter, Halliburton for integrated subsea well-capping solutions

OilNOW -
Oil Spill Response Ltd (OSRL), Trendsetter Engineering and Halliburton today announced that they have signed a Memorandum of Understanding (MoU) for integrated subsea well-capping response solutions. With the MOU, the companies will create a strategic alliance for oil and...
News

GOGA pushing for development of technical skills in oil & gas

OilNOW -
Developing technical skills among Guyanese for jobs in the oil and gas sector is being treated as a top priority by the Guyana Oil and Gas Association (GOGA). The entity is actively engaging a number of external partners which...
News

CMHI and TechnipFMC in joint venture talks

OilNOW -
Chinese jack-up fabrication specialist China Merchant Heavy Industry (CMHI) and French offshore engineering giant TechnipFMC have started talks on forming a joint venture to focus on engineering, procurement and construction work for offshore modules. The two companies recently met in...
News

Exxon awards contract extension for Maersk Viking drillship

OilNOW -
Maersk Drilling has been awarded a contract extension for the ultra-deepwater drillship Maersk Viking, by oil major Exxon Mobil. The estimated value of the contract extension is $22.5 million, with a duration of 150 days. Maersk Viking has been operating...
News

Dutch Fugro willing to support training, education of Guyanese in oil & gas

OilNOW -
Dutch company, Fugro, says it is willing to participate in efforts to educate Guyanese on offshore exploration and production operations. Fugro is already providing specialized training to a number of persons employed at Ground Structures Engineering Consultants Inc.; a Guyanese...
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Guyana Energy Conference launches essay competition for high schoolers

The Guyana Energy Conference and Supply Chain Expo (GECSCE) has launched its first-ever essay competition, open to Guyanese students...

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