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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...
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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...
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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...
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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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Kosmos expects results from Anapai this month

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Kosmos Energy says it expects results from the Anapai-1 well in Suriname later this month as drill operations continue in Block 45 where the company holds a 50% interest. The company announced its first quarter 2018 results on Monday, reporting...
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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...
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Hart Energy: Guyana-Suriname basin shows long-term promise – OTC 2018

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

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

OilNOW -
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...
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President signs Guyana’s Oil Spill Bill into law

Guyana’s President Irfaan Ali has enacted a comprehensive oil spill law which sets out a national framework for oil...

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