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Exxon’s success off Guyana coast fueled Latin America dominance in 2017

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Latin America dominated the world on the exploration front in 2017 in terms of both discovery numbers and size, mainly due to ExxonMobil’s continuing success offshore Guyana, according to investment research and advisory company, Edison, in its 2018 Exploration...
News

Hart Energy: Guyana-Suriname basin shows long-term promise – OTC 2018

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The first rule of puzzle assembly is to start with the edges and work in, flipping pieces this way and that, until the snap of snug fit indicates correct piece placement. When looking at a world map, it is...
News

Petrobras chips away at debt with asset sales

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(Hart Energy) Brazil’s Petrobras intends to raise US$21 billion with the sale of assets by the end of this year, according to its 2018-2022 business plan, as the company works to lower debt while carrying out activities, mainly in...
News

Hess reports US$106M net loss; Guyana remains shining light in company’s outlook

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Hess Corporation (NYSE: HES) on Wednesday reported a net loss of $106 million, or $0.38 per common share, in the first quarter of 2018, compared to a net loss of $324 million, or $1.07 per common share, in the...
News

Liza SURF contractor Saipem posts loss of $2.4M in Q1 2018

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ExxonMobil Guyana Tier 1 contractor Saipem has narrowed its losses to $2.4m for the first quarter of 2018. The Italian oil and gas company's Q1 2018 loss marks an improved financial performance, following the $331m loss reported in Q4 2017. However, the Milan-based firm, operational in Saudi...
News

CNOOC wants China to speed up reform of fuel pricing

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Chinese operator CNOOC Ltd, a joint venture partner together with ExxonMobil and Hess in the Stabroek Block offshore Guyana, is calling on Beijing to speed up the liberalisation of its retail fuel pricing scheme as high diesel and gasoline...
News

“It’s not all about oil…it’s about investing in Guyanese” – TOTALTEC

OilNOW -
As the oil age dawns on Guyana in 2020, there is little time to prepare the hundreds of Guyanese that need to be trained in the basics of Oil and Gas and to obtain the necessary certifications that provide...
News

Laid-off sugar workers finding hope in Guyana’s petroleum industry

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Several sugar workers who lost their jobs when estates began closing in Guyana last year have now been given a second chance at acquiring new skills and gaining employment in the oil and gas industry through the operations of...
Exploration

Schlumberger CEO warns of tightening oil market

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The head of the world’s largest oilfield service company warned of growing global supply challenges in the coming year as Venezuelan production falls and Nigerian and Libyan output reach capacity amid lingering fears of possible sanctions against Iran, Hart...
News

Int’l experts say frontier countries offer ‘favourable fiscal terms’ to secure oil deals

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It is not uncommon for countries with little or no proven oil reserves to offer prospective investors favourable fiscal terms in an effort to kick-start their petroleum ambitions says the International Monetary Fund (IMF), Norway-based industry analyst, Rystad Energy...
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Guyana’s energy boom could fuel AI revolution, says industry expert

Guyana’s economic growth and expanding energy sector present a major opportunity to embrace artificial intelligence (AI) and data mining....

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