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Guyana competing for investments and must get its act together – Chamber President

OilNOW -
Political instability is a major deterrent to economic growth and Foreign Direct Investment (FDI) and with competition for financial resources, investors looking to come into Guyana will tend to reconsider their options if an improvement in the country’s political...
News

Aquaterra gets Trinidad & Tobago platform contract

OilNOW -
UK-based Aquaterra Energy, a global offshore engineering solutions provider, has been awarded the FEED (Front End Engineering and Design) contract by DeNovo Energy for a second Sea Swift platform to be located in the Zandolie field, off of the...
News

Chinese oil demand has reportedly almost rebounded to pre-pandemic levels

OilNOW -
Oil demand in China has almost returned to its level before the coronavirus pandemic spurred the government to impose lockdowns and shut down industries, Bloomberg reported Monday. Consumption has rebounded to about 13 million barrels per day, Bloomberg said, citing Chinese energy...
News

ExxonMobil acquires 50% stake in Suriname block from Petronas

OilNOW -
Malaysian oil and gas company Petronas through its subsidiary, Petronas Suriname Exploration & Production B.V. (PSEPBV), has completed the farm-down of 50 percent of its participating interest to ExxonMobil Exploration and Production Suriname B.V. (ExxonMobil) from a 100 per cent...
News

Guyana energy department beefing up human resource capacity

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Guyana’s Department of Energy (DE) is looking to engage the services of several specialists as it continues to build capacity and acquire the expertise needed to effectively manage the country’s emerging oil and gas industry. DE Director Dr. Mark Bynoe...
Exploration

Stabroek Block: Discovery Highlights

OilNOW -
ExxonMobil initiated oil and gas exploration activities in Guyana in 2008, collecting and evaluating 3-D seismic data that led to the company safely drilling its first exploration well in 2015. The 6.6 million acres (26,800 square kilometers) Stabroek Block is located...
News

Petrobras looks to China’s ‘teapots’ to keep oil exports flowing

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(Reuters) - Brazil’s state-run Petrobras sees no need for cuts in oil production, executives say, as the market for its crude remains robust in China, while domestic demand for fuel picks up amid social distancing fatigue in Latin America’s...
News

Exxon prioritizing development wells at Stabroek Block in coming months – Deedra Moe

OilNOW -
US oil major ExxonMobil will be focusing heavily on development drilling at the Stabroek Block offshore Guyana in the coming months. The company has been working to ensure the safety and health of its employees and the crews working offshore...
News

Westmount buys shares in JHI ahead of Bulletwood drill campaign at Guyana’s Canje Block

OilNOW -
Westmount Energy Ltd has purchased 1,350,000 common shares in JHI Associates Inc through the issue of 15,930,000 new ordinary Westmount shares which will represent approximately 12.7% of Westmount's enlarged issued share capital. The transaction prices the New Ordinary Shares...
News

Dutch floater specialist looks ahead to larger projects with its state-of-the-art programme

OilNOW -
Dutch floater specialist SBM Offshore, while currently dealing with the challenges brought on by the COVID-19 pandemic and low oil price environment, is looking ahead to large capacity offshore developments where its state-of-the-art Fast4Ward® programme will be playing a...
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Latest News

NewsOilNOW -

Staatsolie seals offshore deals with PETRONAS, Chevron for Suriname’s Blocks 9 and 10

Staatsolie Maatschappij Suriname N.V. signed Production Sharing Contracts (PSCs) for offshore Blocks 9 and 10 with PETRONAS Suriname E&P...

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