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Excluding Exxon, other operators could reduce competitiveness of auction – VP

OilNOW -
While the Guyana government has not yet decided on whether it will exclude from its upcoming oil blocks auction, international oil companies (IOCs) that already have substantial interest in oil block(s) offshore Guyana, Vice President Dr. Bharrat Jagdeo said...
News

Guyana moves to screen public office holders’ assets, as oil economy swells

OilNOW -
As Guyana’s economy continues to grow - faster than any other in the world - five persons have been sworn in as members of the country’s Integrity Commission, an independent agency responsible for screening the assets of public office...
News

T&T hopes to court more investors for deep water, onshore acreage with revised tax terms

OilNOW -
In recognition of the immediate need to increase gas supply capacity to preserve its world-class petrochemical and liquefied natural gas sector, Trinidad and Tobago is making swift moves to review its tax system governing shallow water, deep water and...
News

EPA renews ExxonMobil’s Liza-1 permit

OilNOW -
The Environmental Protection Agency (EPA) has renewed ExxonMobil's environmental permit for the Liza Phase One project. It announced the official renewal on Tuesday evening. See below for the full statement: The Environmental Protection Agency (EPA) has renewed the Environmental Permit for...
News

Profit share, royalty, ringfencing, taxation for major upgrades in Guyana’s new model PSA – VP

OilNOW -
Guyana's Vice President Dr. Bharrat Jagdeo said that the new model production sharing agreement (PSA) to be introduced later this year will feature major improvements in four areas: profit sharing, royalty, ringfencing and taxation. The Stabroek Block PSA, granted to...
News

Britain’s energy profits levy a threat to Shell’s North Sea oil and gas investment, company says

OilNOW -
Shell said its North Sea oil and gas investment is being threatened by Britain’s windfall tax, as the country attempts to increase its domestic energy supply. The 25% energy profits levy on oil and gas operators was introduced days ago...
News

New oil province undergoing dramatic modern transformation

OilNOW -
Guyana is undergoing a transformation that will in the next five years, make it unrecognisable. This transformation has been deemed the dawn of a modern Guyana, according to the South American nation’s Minister of Finance, Dr. Ashni Singh. Billions in...
Opinions

Is T&T slipping on Local Content?

OilNOW -
By Kevin Ramnarine – OilNOW Guyana's decision to legislate for local content in its oil and gas industry has been the source of debate in Guyana and in T&T. At the heart of the issue is the value captured or...
News

Guyana steering clear of ‘old style’ NOC to avoid corruption, other risks – VP

OilNOW -
As Guyana nears a decision on whether to form a national oil company (NOC), it is looking to mitigate risks historically associated with some NOCs such as corruption. To this end, government wants to ensure it does not create...
News

Guyana now ahead of US, just behind Russia for largest discovered volumes since 2015 – Norway Group

OilNOW -
As 2022 enters the mid-year point, ExxonMobil has already added over 1 billion fresh barrels of oil equivalent (boe) resources at Stabroek Block, placing Guyana at number two in the world for largest discovered volumes since 2015. Norway-based Rystad Energy...
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MODEC: Eight Guyanese trainees head to Singapore for second phase of development program

Eight Guyanese nationals have completed the first phase of MODEC Guyana’s 20-month Onshore Trainee Program and are set to...

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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