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Guyana oil production will exceed 600,000 bpd over next decade raking in billions per year in profit – Norway-based analyst

OilNOW -
Rystad Energy - an independent research and business intelligence company based in Norway - predicts that oil production in Guyana will exceed 600,000 barrels per day over the next decade, raking in billions of dollars in profit per year...
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Guyana discoveries help give China foothold in region but big spending remains tempered

OilNOW -
China National Offshore Oil Corporation (CNOOC) is a minority partner in ExxonMobil's major oil discoveries in Guyana and the company has nabbed licenses in Mexico's deep waters, giving China a foothold in the region's two most exciting frontiers. While...
News

BP continues to build on success of 2017

OilNOW -
(Forbes) At last week’s AGM held at Manchester Central Convention Complex, Bob Dudley, BP group chief executive took the opportunity to extol the company’s progress this year. The highlight was the start of seven major projects on time and...
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Darren Woods’ solution on shares: drill big, drill better

OilNOW -
(Bloomberg) -- Darren Woods is mounting a strong defense of his plan to rescue ExxonMobil Corp. from its share-price slump with a multi-billion-dollar investment spree that’s at odds with the belt-tightening undertaken by rivals. Woods’ solution, outlined in a Wednesday...
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Shell boss urges T&T to “diversify economy rapidly”

OilNOW -
Shell’s country manager for Trinidad and Tobago, Derek Hudson, has said the Caribbean country’s offshore oil and gas exploration and production has “only scratched the surface” but the twin island republic must diversify its economy rapidly. Speaking at the Institute...
News

Over 500 Guyanese gain employment through ExxonMobil operations

OilNOW -
Guyanese represent fifty-two percent of ExxonMobil’s local workforce while 227 Guyanese companies supplied its oil and gas operations in 2018. ExxonMobil's Senior Director, Public and Government Affairs, Kimberly Brasington, provided data to Guyana's Department of Public Information (DPI) which indicated...
News

Oil hits $80; pipeline operators consolidate

OilNOW -
Oil prices hit $80 per barrel for the first time in more than three years on Thursday on concerns Iranian exports could fall, reducing supply in an already tightening market. Among the analysts weighing in, Boston Consulting Group’s Jamie...
News

8 wells at Liza will produce more oil than Delaware Basin’s 1,400 – Hess

OilNOW -
Chief Executive Officer of Hess Corporation, John Hess, says when it comes to low development cost and favorable financial returns Guyana is a much better prospect than the Permian’s Delaware Basin. The CEO was at the time speaking during a...
News

Petrobras receives new FPSO, takes loan

OilNOW -
Brazil’s Petrobras has received its P-67 FPSO from the China Offshore Oil Engineering Company (COOEC), international media reported Wednesday. The vessel will be remodified in Brazil towards the end of the month before being moved to the NOC’s Lula North pre-salt field. P-67 has...
News

Repsol to end pursuit of oil growth in light of clean energy push

OilNOW -
Spanish company Repsol plans to end its pursuit of oil growth amidst a global move to transition to clean energy. This is according to a Bloomberg report published on Tuesday. According to the article, the company is the first of...
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TT Energy Chamber flags long-term decline despite short-term gains in oil production

The Energy Chamber of Trinidad and Tobago is urging serious reform in the country's energy sector following the release...

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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