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Guyana urged to approach accelerated spending of oil money with caution, gov’t says it is ready

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While it has applauded the Guyana Government for its prudent review and amendment of the Natural Resource Fund Legislation, thereby making it more effective and transparent, the International Monetary Fund (IMF) has urged local authorities to be mindful of...
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As oil production surges, IMF says Guyana making progress in strengthening anti-corruption framework

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History has shown that many oil-producing states often see an increase in corruption with the onset of oil and gas production. Angola, Nigeria, and Uganda are examples of this. In light of this risk, the International Monetary Fund (IMF)...
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IMF backs Guyana’s Gas-to-Energy Project

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The International Monetary Fund (IMF) has thrown its support behind Guyana’s plans to bring down electricity costs, which include the implementation of the transformative gas-to-energy project. The initiative will see the construction and operation of a pipeline from the Liza...
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Trinidad’s deepwater auction: 13 of 17 blocks receive no bids

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Trinidad and Tobago’s deepwater auction concluded on the final day of the Trinidad and Tobago Energy Conference, Thursday. Companies showed little interest, submitting bids for just four of 17 blocks. Information received from the Energy Chamber of Trinidad and Tobago indicates...
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Leading by example, ExxonMobil’s local content centre now ISO 9001 certified

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The Centre for Local Business Development (CLBD) has been making strides over the years to grow with Guyana's nascent oil and gas sector and now, the Centre has been ISO 9001:2015 certified. The Centre's journey to ISO 9001 began back...
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IMF says oil production ramp up makes Guyana’s prospects more favourable than ever before

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The International Monetary Fund (IMF) noted on Friday that Guyana’s medium-term prospects are “more favorable than ever before,” given its increasing oil production and the fact that it holds the potential to greatly transform the nation’s economy. This was specifically...
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Oil and gas related activities are far beyond Guyana’s major fishing zone – FAO report

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The Food and Agriculture Organisation (FAO) of the United Nations has found no correlation between the oil and gas activities offshore Guyana and low catches that are sometimes experienced by local fisherfolk. In fact, FAO has found that while the oil...
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Like Guyana, Trinidad going after relinquishment of oil blocks

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Along with a comprehensive review of its tax system, bid rounds for 17 deep water blocks, and the pursuit of gas exploration in cross border acreage to attract deep-pocket investors; the Government of Trinidad and Tobago says it is...
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Suriname “open for business” as over 2,000 energy stakeholders expected at upcoming oil and gas summit

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Suriname’s Energy, Oil and Gas Summit and Exhibition (SEOGS) will be making a return for its second edition, at a time when the South American nation is poised to be a major player in the global energy industry. Staatsolie Maatschappij...
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GYSBI joins forces with Houston logistics provider to service Guyana’s booming oil sector

OilNOW -
UTC Overseas, an international freight forwarding, and cargo logistics company headquartered in Houston, has expanded its operations in Guyana after teaming up with the South American country’s largest shore base contractor, Guyana Shore Base Inc. (GYSBI). GYSBI’s 130-acre supply base...
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Guyana records US$3 billion trade surplus in Q1 2025, driven by oil exports

Guyana posted a trade surplus of US$3.01 billion in the first quarter of 2025, driven by crude oil exports,...

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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