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Tullow gets key nod to exit Orinduik, but might remain on Kanuku license

Kemol King -
Tullow Oil  has received preliminary approval to divest from its position in the Orinduik Block, Vice President Dr. Bharrat Jagdeo related August 31.  “On the Orinduik issue, we have in principle agreed that the approval will be given for Tullow...
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Repsol to pay signing bonus, higher gov’t take, reduced block size if Kanuku license is renewed – Jagdeo

Kemol King -
Guyana Vice President, Dr. Bharrat Jagdeo, said that if Repsol's request to renew its license for the Kanuku Block is approved, the firm would be navigating a new terrain of increased government take, an obligatory signing bonus, and reduced...
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Suriname, Guyana initiate first steps to establish Bilateral Chamber of Commerce

OilNOW -
Members of the business communities of Suriname and Guyana convened in a virtual meeting on Aug. 30. The primary objective of this meeting was to lay the groundwork for the establishment of the Suriname-Guyana Chamber of Commerce (SGCC) on...
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Gabon oil production expected to remain unaffected following military coup

OilNOW -
A military coup has unfolded in the African nation of Gabon, unseating the long-standing regime of President Ali Bongo Ondimba. The president, who had been in power for 14 years, faced accusations of corruption during his tenure, which prompted...
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Exxon, COVs invests US$45,000 in Community Wellness project benefitting 150 Guyanese

OilNOW -
The Greater Guyana Initiative (GGI) is supporting the "Enhancing Community Wellness" pilot project with an investment of US$45,000. The project's official launch took place at 3t EnerMech’s Lusignan training facility on Aug. 30, heralding a positive step towards tackling...
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US Ambassador to Guyana gov’t: Do as much as you can to show citizens impact of oil on country

OilNOW -
Rome was not built in a day. The same can be said about Guyana’s oil sector since it was only in 2015 that the first discovery was made, and in 2020 that the first barrel was produced. While Guyana...
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Ministry addressing technical glitch on Guyana oil production data portal

OilNOW -
Guyana’s Ministry of Natural Resources recently issued a statement concerning a technical issue that has been affecting its Petroleum Management Programme's Data Centre, which is used to publish oil production volumes. "Our thorough checks have revealed that users have encountered...
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Guyana goes after hefty investments in oil blocks auction

OilNOW -
Guyana is accepting bids in its first ever offshore licensing round covering 14 oil blocks both in shallow and deep-water acreages. How is the Ministry of Natural Resources shaping the landscape for these bidders? The minimum work and expenditure...
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BW Energy moves forward with acquisition of FPSO Cidade de Vitória in Brazil

OilNOW -
Oslo-based BW Energy is set to proceed with its acquisition of the FPSO Cidade de Vitória, located on the Golfinho field in Brazil, following an agreement reached with the vessel's Italian owner, Saipem. This development comes more than a...
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Ambassador Lynch stresses due diligence for US companies entering Guyana market

OilNOW -
United States Ambassador to Guyana, Sarah Ann-Lynch, highlighted the need for careful consideration and research when US companies enter the local market during a radio interview on August 29.  Her remarks were prompted by questions regarding a July 14 Reuters...
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Guyana's Oil LedgerKemol King -

Guyana gets another US$191 million from oil sales in June

Guyana earned just over US$191 million (GY$40 billion) from the sale of three oil cargoes (each about a million...

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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