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Canada says it strongly supports Guyana’s territorial integrity

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In a recent statement by Global Affairs Canada, the Canadian government reaffirmed its strong support for Guyana's territorial integrity amid the ongoing border controversy with Venezuela.  “Canada has been closely monitoring recent developments following the consultative referendum on the Essequibo...
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Guyana EITI says report on fiscal year 2021 will be out before yearend

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The Guyana Extractive Industries Transparency Initiative (GYEITI) has announced the forthcoming release of its fiscal year 2021 report, which is expected to be published on or before December 31, 2023. This announcement coincides with the launch of the organization’s...
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TotalEnergies in JV to develop 1,500-MW hydropower project for Mozambique

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TotalEnergies and partners EDF and Sumitomo Corporation have embarked on a joint venture to develop the Mphanda Nkuwa hydropower project (MNK). The consortium, comprising EDF (40%), TotalEnergies (30%), and Sumitomo Corporation (30%), has been chosen by the Mozambican government...
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Noble Innovator jackup gets contract extension with bp in North Sea

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Noble Corporation said bp has exercised an option to add one well to the work scope of the ultra-harsh environment jackup rig Noble Innovator in the United Kingdom North Sea.  The Noble Innovator is currently operating for bp in the...
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UK foreign minister for Guyana visit in support of country’s sovereignty

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The United Kingdom continues to express support for Guyana amid the ongoing territorial controversy with Venezuela. David Rutley, the Parliamentary Under-Secretary of State for Americas and Caribbean, will visit Guyana in the coming days as a gesture of solidarity....
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Guyana’s oil ends 20-year current account deficit, as 2022 exports overtake imports – IMF

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Guyana’s economic landscape underwent a major transformation in 2022, as the country’s current account shifted to a surplus of 23.8% of gross domestic product (GDP). This notable change comes after two decades of consistent deficits. According to the International...
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SBM Offshore raises US$210 million revolving credit facility to finance its Fast4Ward hulls

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SBM Offshore has secured a US$210 million revolving credit facility (RCF) to finance the construction of Fast4Ward® Multi-Purpose Floater (MPF) hulls, the company said in December 15 release.  The tenor of the RCF is eighteen months with an extension option...
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Suriname awards deepwater blocks to TotalEnergies, Shell, Petronas, QatarEnergy

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Staatsolie, Suriname's state oil company, announced on December 15, that it has signed three production sharing contracts (PSC) for the offshore deepwater blocks 63, 64, and 65. The blocks were part of the Demerara bid round held from November...
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Commitment to no military action welcomed in Argyle Declaration, but little else has changed – Member of Parliament

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The Argyle Joint Declaration, a result of the recent meeting between Guyana and Venezuela Presidents, Irfaan Ali and Nicolas Maduro, has elicited a critical response from Guyana’s shadow foreign minister and Member of Parliament (MP), Amanza Walton-Desir.  The Declaration’s commitment...
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Guyana, Venezuela in joint declaration for peace in the region

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Pro-Tempore President of the Community of Latin American and Caribbean States (CELAC), Dr. Ralph Gonsalves brought to a close, a meeting of the Presidents of Guyana and Venezuela, Irfaan Ali and Nicolas Maduro, on December 14, 2023.   While both Presidents...
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Guyana’s AFC party promises transparency, amended contracts in oil sector if it wins elections

Guyana’s Alliance for Change (AFC) political party is promising oil and gas transparency reforms and a review of existing...

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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