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Exxon earns $3.1 billion in Q2 2019 as Liza 1 approaches start-up

OilNOW -
Exxon Mobil Corporation on Friday announced estimated second quarter 2019 earnings of $3.1 billion, or $0.73 per share assuming dilution, compared with $4 billion a year earlier. Earnings included a favorable identified item of about $500 million, or $0.12...
News

Liza Phase 2 targeting 600 million barrels of oil

OilNOW -
ExxonMobil’s recently sanctioned Liza Phase 2 development offshore Guyana will be targeting 600 million barrels of oil when it gets underway in 2022. The US$6 billion Liza Phase 2 Development project was sanctioned in May and will have a total...
Exploration

Eco Atlantic closes financial year with strong balance sheet amid Guyana prospects

OilNOW -
Eco (Atlantic) Oil & Gas Ltd (AIM: ECO, TSX-V: EOG) announced Tuesday that it has ended the financial year with cash and cash equivalents of CAD 25.0 million. As of 31 March 2019, Eco had total assets of CAD...
News

Liza Destiny crew training for emergency response

OilNOW -
The crew that is onboard the Liza Destiny—the  Floating, Production, Storage and Offloading (FPSO) vessel that is currently en route to Guyana—has been engaging in emergency response activities and other safety training while the vessel travels to the South...
News

Inpex enters Anadarko’s Gulf of Mexico blocks

OilNOW -
(Offshore Energy) Japan’s Inpex has reached an agreement with Anadarko Petroleum to acquire a 40 percent participating interest in Keathley Canyon blocks 921 and 965 as well as Walker Ridge blocks 881 and 925 in the U.S. Gulf of...
News

Opposition Leader wants more oil benefits for Guyana; says this must be balanced against investor returns

OilNOW -
Guyana's Opposition Leader Bharrat Jagdeo believes the South American country needs to alter the terms of future Production Sharing Agreements (PSAs) to maximize benefits for all Guyanese, but says this must be balanced against investor returns. “They will be...
Exploration

UK Analyst and Guyanese Economist say high royalty rate could make Guyana less competitive

OilNOW -
UK-based data analytics and consulting company GlobalData and a Guyanese Economist both say the scope for an upward adjustment in the royalty rate under Guyana’s current model Production Sharing Agreement is limited and warns that increasing this beyond a...
News

Ratio Petroleum inks deal with Philippine National Oil Company

OilNOW -
The Philippine National Oil Company (PNOC) on July 12 inked a deal with Israeli firm ration Petroleum to “establish cooperation” for the exploration and development of oil and gas resources in the country, the Energy Department said. According to a...
News

Guyana, TT American Chambers stage 1st HSSE conference in Georgetown

OilNOW -
As Guyana prepares for first oil, the need for Health, Safety, Security and the Environment (HSSE) standards was further highlighted on Wednesday when the American Chamber of Commerce Guyana (AMCHAM), in collaboration with its sister organisation in Trinidad and...
News

One oil major walked away, 20 companies said no to Guyana exploration

OilNOW -
The financial risk was high and the prospects of finding oil off the Guyana coast was low in the lead-up to the 2015 drill campaign that saw the largest discovery for that year being made at the Liza field....
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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