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ExxonMobil to ease shut-ins to 200,000 boe/d in Q3 on recovering demand

OilNOW -
(S&P Global Platts ) ExxonMobil aims to ease global oil and gas production shut-ins by about 40% to 200,000 b/d of oil equivalent as demand for transportation fuels slowly recovers from a second-quarter plunge. About 70% of the shut-ins expected...
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Saipem in ground-breaking agreement for deep-seabed mining

OilNOW -
Fincantieri and Saipem have signed a Memorandum of Understanding (MoU) to promote the development of deep-seabed mining (DSM), i.e. the sustainable exploitation of deep-sea floors over 3,000 metres in depth. This agreement sets the ground for a strategic partnership...
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Back from the brink – Guyana looks ahead to oil-rich future

OilNOW -
Guyanese breathed a sigh of relief on Sunday when it became apparent that a five-month long ordeal that saw no end to the March 2 elections was finally ending. A meeting of the Guyana Elections Commission (GECOM) started just...
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75% of Stabroek block expected resources still to be developed – WoodMac

OilNOW -
The volume of revenue flows to Guyana and the Stabroek block consortium is dependent on the timely development of oil resources, 75% of which is still to be developed with the Payara project accounting for 16%. The findings of a...
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New ExxonMobil Guyana President looking to build on company’s success

OilNOW -
Alistair Routledge, the new President of ExxonMobil Guyana says he is looking to build on the accomplishments the company has made over the past several years, as he takes up the top leadership role. That success includes 16 oil discoveries,...
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Why developing Guyana’s oil fields early matters

OilNOW -
The jury is out on what future oil demand will look like, when the world will hit peak oil and what long-term impacts the coronavirus and the energy transition are likely to have on demand. With Guyana sitting on...
News

Getting ‘advantaged barrels’ out of the ground early means bigger returns for companies, host countries

OilNOW -
The demand for petroleum is expected to remain robust in coming years but trends that point to an accelerated shift to renewables mean developing oil and gas resources sooner rather than later will ensure the most favourable returns for...
News

Elections impasse puts millions of barrels and billions of dollars on the line for Guyana – Rystad Energy in new report

OilNOW -
Country could lose up to US$1.6 billion from delays in project approvals for Payara-Pacora development Up to 75 million barrels of oil on the line The prolonged delay in concluding the highly contested Guyana elections is becoming...
News

Guyana oil field equipment expenditure to hit peak in 2022 on FPSO demand

OilNOW -
The largest component of forecast offshore Oil Field Equipment (OFE) expenditure will be fixed and floating production equipment, totalling $139 billion, bolstered by activity in Latin America, particularly Guyana, where regional expenditure on the floating platform sector is set...
News

TechnipFMC in major deal with Assiut National Oil Processing Company

OilNOW -
UK-based TechnipFMC has signed a major Engineering, Procurement, and Construction (EPC) contract with Assiut National Oil Processing Company (ANOPC) for the construction of a new Hydrocracking Complex for the Assiut refinery in Egypt. TechnipFMC said Tuesday this EPC contract covers new...
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SBM sponsors international trips, science equipment for winners of Guyana mousetrap competition

SBM Offshore Guyana’s 2025 Guyana-Monaco Mousetrap Car Grand Prix Competition wrapped up with an impressive display of creativity, problem-solving...

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