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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...
News

ExxonMobil acquires deepwater block in Equatorial Guinea

OilNOW -
ExxonMobil said today its wholly owned affiliate, Exploration and Production Equatorial Guinea (Deepwater) Ltd., has signed a production sharing contract with the government of Equatorial Guinea for a deepwater block located 36 miles west of Malabo. “We look forward to building...
News

Local content expert to work with Guyanese private sector

OilNOW -
Business operators in Guyana eager to get involved in the country’s emerging oil and gas sector will soon benefit from the input of a local content specialist. OilNOW understands the Guyana government is hiring the expert based on the completion...
News

BP discovers 2 trillion cubic feet of gas in Trinidad & Tobago

OilNOW -
BP Trinidad & Tobago (bpTT) announced Friday that it has made two significant gas discoveries with the Savannah and Macadamia exploration wells, offshore Trinidad. The results of these wells have unlocked approximately 2 trillion cubic feet (tcf) of gas...
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U.S. Bank confirms US$526M loan to help Guyana slash 460,000 tonnes of emissions annually

The Export-Import Bank of the United States (EXIM) confirmed that its Board approved a $526 million loan to Guyana...

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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