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Low quality Guyana oil among list of Tullow’s 2019 disappointments

OilNOW -
Executive Chair of Tullow Oil PLC Dorothy Thompson reported the Board’s disappointment in the company’s operational and financial performance for 2019, saying that in 2020 the British oil and gas operator will work to rebuild the stakeholder trust that...
News

Guyana remains a bright spot in oil’s universe but politics could change the outlook

OilNOW -
The International Monetary Fund, World Bank, and several other institutions, analysts and experts have all placed Guyana on the road to rapid economic growth and transformation fueled by the massive oil resources discovered by ExxonMobil off the country’s coast...
News

CGX’s Logistics Yard to service development of Guyana Deep Water Port

OilNOW -
CGX Energy Inc. through its wholly owned subsidiary Grand Canal Industrial Estates Inc. (GCIEI) will in 2020 begin construction of phase 1a of the deep-water port at the mouth of the Berbice River in the South American country of...
News

CNOOC lifts 1st oil cargo from Guyana, reports record performance for 2019

OilNOW -
China’s state oil company CNOOC has lifted its first 1 million barrels of light, sweet Liza crude from Guyana’s offshore Liza Phase 1 Development project. The company has a 25% stake in the 6.6 million acres Stabroek block as...
News

O&G project sanctioning faces up to US$131 billion in reduction this year

OilNOW -
The effect of the COVID-19 virus on global demand for oil and gas, along with an ongoing price war that has sent oil prices tumbling at an unprecedented rate, are poised to wreak havoc on new project development plans...
News

Bristow deploys helicopters for corona evacuations in UK

OilNOW -
Bristow Helicopters has successfully repatriated offshore workers in the oil and gas industry with suspected cases of the novel coronavirus – COVID-19 – using three specially-configured former search and rescue aircraft. Three suspected COVID-19 cases have been flown from offshore...
Exploration

How will the oil price crash hit the upstream sector?

OilNOW -
(Wood Mackenzie Analysis) The coronavirus outbreak has derailed OPEC+, thrown the oil market into turmoil and sent an already unloved sector into freefall, setting in motion a chain of events that led to the biggest fall in the oil price...
Exploration

Tullow writes off Jamaican oil exploration licence

OilNOW -
(The Gleaner) Tullow oil Plc has fully written off its oil exploration licence for the Walton-Morant Basin offshore Jamaica, on which it has taken a US$36-million hit. The write-off relates to what the company indicated in its most recent earnings report...
News

Stabroek Block operations could be affected due to COVID-19 disruptions – ExxonMobil

OilNOW -
The impact of the coronavirus (COVID-19) outbreak globally continues to impact the oil and gas industry and could see operations at Guyana’s Stabroek Block slowing down as ExxonMobil grapples with travel restrictions which is affecting the movement of personnel...
News

Suriname’s Maka well can bring US$50M per year in revenue

OilNOW -
The Maka Central-1 discovery has the potential to bring more than US$50m in revenue per year to the Surinamese Government if it sees similar success to Guyana’s Stabroek, according to leading data and analytics company GlobalData. Gregory Bosunga, Oil and Gas Analyst...
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Exxon says U.S. senators were misled; no Guyana tax credits included in its 2023 & 2024 filings

President of ExxonMobil Guyana, Alistair Routledge, has rejected claims that the company benefited from tax credits in Guyana for...

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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