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Darren Woods’ solution on shares: drill big, drill better

OilNOW -
(Bloomberg) -- Darren Woods is mounting a strong defense of his plan to rescue ExxonMobil Corp. from its share-price slump with a multi-billion-dollar investment spree that’s at odds with the belt-tightening undertaken by rivals. Woods’ solution, outlined in a Wednesday...
News

Shell boss urges T&T to “diversify economy rapidly”

OilNOW -
Shell’s country manager for Trinidad and Tobago, Derek Hudson, has said the Caribbean country’s offshore oil and gas exploration and production has “only scratched the surface” but the twin island republic must diversify its economy rapidly. Speaking at the Institute...
News

Over 500 Guyanese gain employment through ExxonMobil operations

OilNOW -
Guyanese represent fifty-two percent of ExxonMobil’s local workforce while 227 Guyanese companies supplied its oil and gas operations in 2018. ExxonMobil's Senior Director, Public and Government Affairs, Kimberly Brasington, provided data to Guyana's Department of Public Information (DPI) which indicated...
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Oil hits $80; pipeline operators consolidate

OilNOW -
Oil prices hit $80 per barrel for the first time in more than three years on Thursday on concerns Iranian exports could fall, reducing supply in an already tightening market. Among the analysts weighing in, Boston Consulting Group’s Jamie...
News

8 wells at Liza will produce more oil than Delaware Basin’s 1,400 – Hess

OilNOW -
Chief Executive Officer of Hess Corporation, John Hess, says when it comes to low development cost and favorable financial returns Guyana is a much better prospect than the Permian’s Delaware Basin. The CEO was at the time speaking during a...
News

Petrobras receives new FPSO, takes loan

OilNOW -
Brazil’s Petrobras has received its P-67 FPSO from the China Offshore Oil Engineering Company (COOEC), international media reported Wednesday. The vessel will be remodified in Brazil towards the end of the month before being moved to the NOC’s Lula North pre-salt field. P-67 has...
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Repsol to end pursuit of oil growth in light of clean energy push

OilNOW -
Spanish company Repsol plans to end its pursuit of oil growth amidst a global move to transition to clean energy. This is according to a Bloomberg report published on Tuesday. According to the article, the company is the first of...
News

PCJ looks to next phase of oil exploration as first 3D seismic survey is completed in Jamaica

OilNOW -
(The Gleaner) The Petroleum Corporation of Jamaica (PCJ) is hoping that the post survey data analysis of the first 3D seismic survey of Jamaica's offshore in the exploration for oil and gas will be encouraging enough to move the...
News

ON Energy PSA: 53% profit oil, 1% royalty for Guyana

OilNOW -
The Production Sharing Agreement (PSA) between the Government of Guyana and ON Energy, signed on February 12, 2013, outlines a 53% share of profit oil for the South American country and 1% royalty, payable by the company. Recoverable contract...
News

Guyana contracts American firm to review ExxonMobil application for giant Liza Phase 2 development

OilNOW -
The Environmental Protection Agency (EPA) has hired an American company; Rampal US Corporation to assess and certify an Environmental Impact Assessment (EIA) study for the ExxonMobil Liza phase II development. This was confirmed on Friday by Guyanese Minister of State,...
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Latest News

Energy InsightsChevy Devonish -

New lawsuit claims that the Government of Guyana’s management of the Natural Resources Fund is unlawful and unconstitutional

A local businessman has filed a lawsuit challenging the Government of Guyana’s (GoG) management of the Natural Resources Fund...

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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