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Loquan to exit Trinidad’s National Gas Company after eight years

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The National Gas Company of Trinidad and Tobago Limited (NGC) announced in a Jan. 18 release that Mark Loquan will not be renewing his contract with the company. His term as Director on the NGC Board and its affiliates...
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With 39 new licenses, Equinor seeks to reduce Norway’s production decline

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Equinor was awarded 39 new production licenses by Norway’s Ministry of Energy. The licenses, distributed across the North Sea, Norwegian Sea, and Barents Sea, position Equinor as the operator in 14 of these licenses and a partner in 25...
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Government to seek out auditor for 2020-2023 Stabroek block expenses – VP

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Plans are underway to commence the audit of Stabroek block expenses incurred by ExxonMobil, Hess and CNOOC for the period 2020-2023, said Vice President Bharrat Jagdeo.  “We are … going out to tender soon for the audit up to the...
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ABB cops contract to supply electrical, digital systems for Uaru FPSO

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ABB has been awarded a contract by Offshore Frontier Solutions Pte Ltd to provide a comprehensive electrical system and digital solutions for ExxonMobil's Errea Wittu floating production, storage and offloading (FPSO) vessel. Offshore Fronter Solutions is a joint venture...
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100 paid internships in Guyana’s oil sector being targeted this year

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Approximately 100 Guyanese will be offered a paid internship opportunity as part of local content training initiatives being implemented this year.  Senior Minister with responsibility for Finance, Dr. Ashni Singh, who presented Guyana’s 2024 budget on Jan. 15, reported that...
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Oil fund withdrawal rule too conservative, says Guyana VP

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Guyana's Vice President Dr. Bharrat Jagdeo is defending a decision to revise the withdrawal rule in the country's Natural Resource Fund (NRF) Act, telling reporters at a press conference on Thursday that the original rule is “very conservative”. This...
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Guyana to conduct review of offshore resources for potential second auction

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The Guyana government plans to conduct an internal review of its offshore resources, a key step towards a potential second auction of its oil blocks.  Vice President Bharrat Jagdeo clarified that the exercise, described as a study this week by...
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NGC’s ‘Green Company’ to hold 30% equity stake in Trinidad’s Project Lara

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The NGC Group of Companies said its new subsidiary, NGC Green Company Limited (NGC Green), will be a 30% equity investor in 'Project Lara', Trinidad and Tobago’s first industrial-scale solar farm project, following the planned transfer of the interest...
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Record-breaking 2023 visitor influx to Guyana equates to 40% of country’s population

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With growing appeal as a travel destination, new oil producer Guyana recorded a record-breaking influx of tourists in 2023. The number, 319,056, equates to 40% of the country’s total population. This not only surpassed the previous record of 314,727 set...
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Over 1,600 more Guyanese to be hired by oil sector over next three years

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Guyana’s oil and gas sector is set to hire over 1,600 Guyanese in the period 2024-2026. During the reading of the 2024 national budget, Guyana's finance minister, Dr. Ashni Singh, outlined the hiring forecast as detailed in the five-year...
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ExxonMobil enters exclusive talks to sell French refinery to North Atlantic

ExxonMobil has entered exclusive negotiations with Canadian fuel retailer North Atlantic for the sale of its 82.89% stake in...

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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