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Badly needed refinery upgrades in Nigeria could cost $1.2B

OilNOW -
Nigeria may need to spend as much $1.2B in refinery upgrades in order to reduce its dependence on the imports of refined oil products. Although the country produces 2 million barrels of oil per day, it is still forced...
News

TechnipFMC wins 3 yr contract for well intervention in Australia

OilNOW -
TechnipFMC has entered into a three-year agreement with Woodside Energy in Australia for Riserless Light Well Intervention (RLWI) and subsea services, including intervention, installation, and plug and abandonment services. According to a World Oil report, under the agreement, TechnipFMC will...
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ExxonMobil accuses NY AG of “reckless and false Allegations” on climate policies

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ExxonMobil
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Trotman tells Ocean Conference Guyana putting safeguards in place for oil

OilNOW -
Guyana’s Minister of Natural Resources Raphael Trotman on Wednesday told the United Nations Ocean Conference in New York that as Guyana prepares for offshore oil production in 2020, the country is mindful of the risks to the ocean from...
Exploration

Eco pursuing “significant reservoir leads” in new 3D survey offshore Guyana

OilNOW -
Eco (Atlantic) Oil & Gas announced Thursday, along with its Operating Partner, Tullow Oil, it has approved a circa 2,550 km2 seismic survey on the Company’s Orinduik Block offshore the Co-operative Republic of Guyana. The survey is anticipated to...
News

Oil drops 5.1% in 5-week low

OilNOW -
Oil prices slid nearly 5 percent on Wednesday after the U.S. government reported an unexpected increase in crude inventories, fanning fears that output cuts by major world oil producers have not drained a global glut very much. Crude stocks in...
News

Oil production agreement outlines requirement for training, hiring Guyanese

OilNOW -
A detailed plan will have to be developed by ExxonMobil, its development partners, contractors and sub-contractors, to address the training and employment of Guyanese, as the country gears up for first oil in mid-2020. A source familiar with the terms...
News

Fugro Venturer to begin offshore survey campaign

OilNOW -
With a maiden voyage that takes her to the deep waters of Ireland’s Atlantic margin and the far North of the Barents Sea, Fugro Venturer is the newest of Fugro’s successful purpose-designed, standardised survey vessels, originally formulated in 2013. The...
News

ExxonMobil says royalty, terms apply to entire Stabroek block offshore Guyana

OilNOW -
The royalty and terms outlined in the production sharing contract between ExxonMobil and Guyana will apply to the entire area known as the Stabroek block, located 120 miles offshore the South American country. The US supermajor had applied for,...
News

Shell reduces stake in Canada oil sands

OilNOW -
Royal Dutch Shell has announced the completion of two previously announced agreements by Shell Canada Energy, Shell Canada Limited and Shell Canada Resources that will see Shell sell all undeveloped oil sands interests in Canada and reduce its share...
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Second Guyana oil auction unlikely before November 2025 elections 

Guyana Vice President Bharrat Jagdeo said Thursday he is doubtful Guyana’s next auction of offshore acreage will happen before...

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