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Guyana discoveries help give China foothold in region but big spending remains tempered

OilNOW -
China National Offshore Oil Corporation (CNOOC) is a minority partner in ExxonMobil's major oil discoveries in Guyana and the company has nabbed licenses in Mexico's deep waters, giving China a foothold in the region's two most exciting frontiers. While...
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BP continues to build on success of 2017

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(Forbes) At last week’s AGM held at Manchester Central Convention Complex, Bob Dudley, BP group chief executive took the opportunity to extol the company’s progress this year. The highlight was the start of seven major projects on time and...
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Darren Woods’ solution on shares: drill big, drill better

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(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...
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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...
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Over 500 Guyanese gain employment through ExxonMobil operations

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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

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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

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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...
News

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...
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MODEC’s Guyana contract drives 1,327% surge in orders for 2025

Japan-based floating production specialist MODEC Inc. has reported strong results for the first nine months of 2025, driven by...

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