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ConocoPhillips targets $50 billion free cash flow over next decade

OilNOW -
ConocoPhillips unveiled a long-term plan on Tuesday to boost oil and gas production by about 3% per year, restrain annual spending to about $7 billion and return $50 billion to shareholders over the next decade. The announcement comes as investors,...
News

Exxon to divest $15 billion in assets by 2021 as development of Guyana oil fields progress

OilNOW -
US oil major ExxonMobil is among several global giants in the oil and gas industry looking to sell assets that could fetch a total of $27.5 billion according to Rystad Energy’s latest assessment. The plans by Exxon to divest...
News

AMCHAM, JHI set to discuss how Guyana arrived at first oil at pre GIPEX event

OilNOW -
The American Chamber of Commerce Guyana (AmCham) and JHI Associates Inc. are set to stage a discussion on how Guyana arrived at first oil, slated for Tuesday ahead of the opening of the country’s largest petroleum exhibition and conference...
News

A subsea giant could be in the making with Saipem, Subsea 7 merger

OilNOW -
A merger between Italian-based Saipem – one of ExxonMobil’s Prime Contractors for its offshore project in Guyana – and UK-based Subsea 7 would create a subsea giant in the oilfield services industry. Commenting on unconfirmed reports that such a merger...
News

Saipem clinches subsea contract for Payara project

OilNOW -
ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded a subsea contract to Saipem for the proposed Payara development project located in the Stabroek block offshore Guyana, at a water depth of around 2000 metres. Saipem said on...
News

Orinduik explorers remain confident of Guyana prospects – gunning for ‘lighter oil’

OilNOW -
While analysis of Tullow Oil’s recent discoveries at the Orinduik Block offshore Guyana has proven to be disappointing, the Joint Venture Partners remain confident of prospects offshore the South American country and will be updating their modelling to guide...
News

All eyes on multi-billion-barrel Atlantic Margin play

OilNOW -
Geologists and experts in the oil and gas industry have long been intrigued with similarities between the MSGBC Basin - Mauritania, Senegal, The Gambia, Guinea Bissau and Guinea Conakry, off the coast of West Africa and that of the...
Exploration

Iran says oil field found with more than 50 billion barrels

OilNOW -
(Associated Press) Iran has discovered a new oil field in the country's south with over 50 billion barrels of crude oil, its president said Sunday, a find that could boost the country's proven reserves by a third as it...
News

No new oil blocks to be awarded in Guyana at least for another year

OilNOW -
South America’s newest oil and gas hotspot, Guyana, may not award any new oil blocks for at least another year as the country’s Department of Energy (DE) moves to put a number of measures in place which includes enhancement...
News

Liza Unity hull 85 percent complete

OilNOW -
The hull for the Liza Unity FPSO – Guyana’s second oil production complex – is now 85% complete as work on the 220,000 barrels per day vessel that will be producing oil from the Liza Phase 2 Development project...
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Guyana and global oil exports marked safe as US market tariffs hit other industries

By Alana Nadir The energy industry was marked safe from sweeping tariffs announced this week by U.S. President Donald...

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