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U.S. withdraws from extractive industries anti-corruption effort

OilNOW -
(Reuters) - The United States has withdrawn from the Extractive Industries Transparency Initiative (EITI), an international effort to fight corruption in managing revenues from oil, gas and mineral extraction. EITI calls US withdrawal from the anti-corruption body “disappointing, backwards step” There...
News

Military chief urges soldiers to be vigilant against trans-border crime as O&G industry takes off

OilNOW -
Chief of Staff of the Guyana Defence Force (GDF) Brigadier Patrick West is urging ranks to be vigilant and guard against new border threats which may emerge with the advent of the South American country’s oil and gas industry. This...
Exploration

Exploratory wells in the Orinduik Block to cost around US$35M

OilNOW -
The cost for exploratory wells in the Orinduik Block is expected to amount to approximately US$35M with Eco Atlantic’s participating interest anticipated to be around US$5.25 Million per well. The company has since entered into an option agreement on the block...
News

Regulator cuts UK oil and gas estimates

OilNOW -
(BBC) The oil and gas offshore industry regulator has reduced its estimates of the amount of known oil and gas left under UK waters. The amount in known reserves and capable of extraction has dropped from 6.3 billion barrels to...
News

Exxon says fire contained at Baton Rouge, La. refinery

OilNOW -
(Reuters) - ExxonMobil Corp said on Wednesday that a fire that occurred at its 502,500 barrel-per-day (bpd) Baton Rouge, Louisiana refinery on Wednesday morning was contained to the area. There were no injuries and no impact to community, a company...
News

Oil production in Guyana could hit 400,000 bpd by 2026 – WoodMac

OilNOW -
Industry analyst Wood Mackenzie believes oil production in Guyana could reach as high as 400,000 barrels per day by 2026 as multiple phases of development and production come on stream. Pablo Medina, Wood Mackenzie`s senior analyst, Latin America, said ExxonMobil’s fifth...
News

Exxon to pay $300M to resolve U.S. pollution cases

OilNOW -
(Bloomberg) Exxon Mobil Corp. agreed to pay more than $300 million to resolve air pollution violations tied to eight chemical plants in Texas and Louisiana, one of a pair of environmental settlements with oil companies announced by the Trump...
News

Oil rally looks set to run into 2018 if OPEC extends output deal: Reuters poll

OilNOW -
(Reuters) - Oil will likely rally into 2018 with periods of volatility as an anticipated extension of OPEC-led output restrictions offsets higher U.S. production, a Reuters poll showed on Tuesday. Analysts raised their crude price projections, the survey showed, as...
News

ExxonMobil Guyana issues warning about reported fraudulent activities

OilNOW -
ExxonMobil and its Affiliate, Esso Exploration and Production Guyana Limited (EEPGL) on Tuesday issued a public advisory, alerting businesses and the public at large to the activities of persons and/or agencies falsely claiming to be representatives of ExxonMobil, and...
News

Exxon forged ahead despite Venezuela aggression, multiple risks – Persaud

OilNOW -
In addition to the routine nature and types of risks involved in petroleum exploration and production, US super-major ExxonMobil was also faced with the prospect of aggression from Venezuela while it was searching offshore Guyana for oil. Writing in his...
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Latest News

Guyana's Oil LedgerKemol King -

ExxonMobil Guyana produced 841,000 barrels of crude per day in October

ExxonMobil Guyana’s offshore oil production averaged 841,000 barrels per day (b/d) in October across the four producing Stabroek Block...

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