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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,...
Exploration

Opposition party appears to have won, incumbent yet to concede but O&G activities will progress – Fitch Solutions

OilNOW -
Political uncertainty in Guyana will have a limited impact on the ongoing oil and gas development projects in the South American country although the oil price rout and fall in global oil and gas investments could delay exploration and...
News

Eni to sell assets in Norway, Congo

OilNOW -
(Bloomberg) --Eni SpA is looking to sell assets in Norway and the Republic of Congo as oil’s slump prompts companies across the industry to rein in spending, according to people with knowledge of the matter. In Norway, Eni’s majority-owned Var...
News

South America’s newest oil producer drops over 50 million barrels of crude

OilNOW -
A ‘detrimental limbo’ of political uncertainty is becoming increasingly costly to new oil producer on the South American continent, Guyana, where project approval delays for a half-billion barrel offshore development has already resulted in more than 50 million barrels...
Opinions

Guyana facing ‘series of shock and multiplier effects’ triggered by political crisis – Economist

Bobby Gossai, Jr. -
By Bobby Gossai, Jr. - Economist The expected high growth rate of the Guyanese economy will be reduced by several factors outside of the limits of the coronavirus. Guyana had an expected exponential growth from 2020 to 2028 which would...
News

Chevron set to buy out Noble Energy for $5 billion in shares

OilNOW -
Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Noble Energy, Inc. (NASDAQ: NBL) to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or...
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

Suriname deepwater becoming more attractive as Guyana remains stuck in political conflict

OilNOW -
The people of Suriname went to the polls on May 25 and a new President is now in place with a pledge to “reconstruct” the country’s natural resources. No doubt, the newly discovered petroleum resources will be a priority...
Exploration

Heavy oil at Orinduik similar to North Sea, Gulf of Mexico commercial crude

OilNOW -
The heavy oil discovered in 2019 at the Orinduik block offshore Guyana is similar in quality to crude being produced and commercialized in several parts of the world, including the US Gulf of Mexico, North Sea and Brazil’s Campos...
News

ExxonMobil submits application for Kaieteur block activities

OilNOW -
ExxonMobil has submitted a block-wide application for environmental authorization to conduct oil and natural gas activities on the deepwater Kaieteur block, company spokesman Todd Spitler is quoted as saying in an S&P Global Platts report this week. The Kaieteur block...
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Latest News

ExplorationShikema Dey -

Suriname puts 60% of offshore basin on offer in new Staatsolie open-door programme

Staatsolie launched its new Open-Door Offering this morning, creating new opportunities for exploration and production companies to enter the...

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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