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Guyana gov’t not keen on tapping into oil fund now for ‘emergency relief’, says it’s following budgetary process

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Rising commodity prices in Guyana now worsened by fallout from the Russia-Ukraine war is seeing calls being made by the political opposition for government to tap into the Natural Resource Fund (NRF) and use a portion of the increased revenues...
News

Stabroek Block partners continue support for women entrepreneurs through AccelerateHER program

OilNOW -
The free Accelerate-Her mentorship programme for women entrepreneurs, introduced last year through the Centre for Local Business Development (CLBD), has been extended for a second year thanks to the patronage of the Stabroek Block co-venturers through the Greater Guyana Initiative...
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Canadian drillers spring to life as war dents supply

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(Bloomberg) — Canada’s slumbering oil industry is beginning to stir. For years, the country’s drillers, like those in the shale fields of West Texas, have been under great pressure from their investors to avoid the kind of expansion plans that...
News

Guyana reviewing measures to soften blows of Russia-Ukraine crisis on food security, fuel prices

OilNOW -
Since Russia’s invasion of Ukraine on February 24, 2022, international observers predicted that harsh sanctions on the Vladimir Putin administration could propel oil prices to a record-breaking US$200 a barrel, US$53 higher than it ever was on July 11,...
News

Guyana lifts most COVID-19 restrictions, greenlighting increased economic activity

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The private sector in Guyana has been given a welcome boon by the government, after the effect that global supply chain bottlenecks and war in eastern Europe have had on commodity prices and working-class pockets. After nearly two years of...
News

New oil province grappling with fallout from global disruptions

OilNOW -
The economic impact of the war in Ukraine is being felt around the world as oil prices become more volatile with surges pushing Brent to its highest level in nine years at one point. This follows the impacts of...
News

Norway’s Equinor will stop trading Russian oil after this month

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(S&P Global Platts) Norway's state-controlled Equinor is to stop trading or transporting Russian oil, it said late March 14, following a decision to exit its Russian joint ventures in response to the invasion of Ukraine. In a statement, Equinor said...
News

Eco Atlantic to acquire 100% of JHI Associates in deal valued over US$50 million

OilNOW -
Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX ‐ V: EOG), announced on Monday that it has signed a Commercially Binding Term Sheet to acquire 100% of JHI Associates Inc., including JHI's 17.5% Working Interest (WI) in the Canje Block offshore Guyana. The deal...
News

Rapid development of oil resources will deliver benefits to Guyana now, say academics

OilNOW -
In the context of arguments that Guyana should not develop its oil and gas resources as quickly as the government intends to, energy policy specialist Wazim Mowla asks “Why wait?” Mowla is a non-resident scholar at Florida University’s Jack D. Gordon...
Exploration

Repsol in search of critical services for new well at Kanuku Block

OilNOW -
Spanish oil firm Repsol, operator of the Kanuku Block offshore Guyana, is in search of companies to provide information regarding well testing services. In Requests For Information (FRI) posted by its local affiliate Repsol Exploración Guyana on Friday, the company...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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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