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Sustained US$100-$130 oil prices expected through third quarter as food crisis looms – Rystad Energy

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With both Brent and WTI crude trading over US$100 per barrel for weeks since Russia first invaded Ukraine, Norwegian business intelligence firm, Rystad Energy now projects that this is going to last for several more months. Rystad said in its...
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Trinidad’s oil-driven economy in shambles; Guyana working to be an exception – VP Jagdeo

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While his counterparts in Trinidad and Tobago have taken umbrage at his latest public comments that the economy of the Twin-Island Republic is falling apart, Vice President, Dr. Bharrat Jagdeo has no intention to change his position. For him,...
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Analyst urges quick action on approval of Guyana’s largest oil development to date

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Negotiations are underway for the Stabroek block consortium to provide a guarantee that they would have adequate resources to respond to an oil spill. Arthur Deakin, who is energy co-director at Americas Market Intelligence (AMI), said that while this...
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CGX prepping for next target on Corentyne Block with initial cost pegged at US$93M

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CGX Resources Inc. (CRI) in partnership with its Canadian joint venture partner, Frontera Energy Corporation, said the Wei-1 prospect in the Corentyne Block will be drilled in the May to August period with costs to execute said project starting...
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Dr. Chesney hopes “substantial” oil resources will be used to expand Guyana’s agriculture sector

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Leading agriculturalist, Dr. Arlington Chesney said the Guyana government should accelerate its agriculture program, and that he hopes a substantial portion of the revenues gained from the production and sale of crude will be invested in this sector. It is...
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Guyana in talks with CARICOM states to remove trade barriers – Ali

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Guyana is in discussion with other member states of the Caribbean Community (CARICOM) to remove barriers to trade among nations, said President Dr. Mohamed Irfaan Ali on Sunday. The barriers are obstacles to the oil producing nation’s goal of making...
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T&T local content policy more “deadly” than Guyana’s; “illegal” trade barriers should be removed – Guyanese business exec

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Following criticism of Trinidad and Tobago’s trade barriers against Guyana by President of the Georgetown Chamber of Commerce and Industry (GCCI), Timothy Tucker, an executive of another Guyanese business service organization, the Guyana Manufacturing and Services Association (GMSA) has...
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Analysts agree current extreme global shocks illuminate need for Guyana to pipe gas to shore

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The need for any country to build resilience against oil price volatility and global supply shocks is a recurring conversation. But when Russia invades Ukraine, and causes the biggest oil price jump in years, the urgency to convert this...
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Guyana Labour Minister aiming for monthly visits to ExxonMobil’s offshore operations

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As Guyana continues to build capacity to regulate the oil and gas industry, the Ministry of Labour is training officers to be able to conduct inspections at the site of ExxonMobil’s offshore operations. Minister of Labour, Joseph Hamilton told OilNOW...
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Natural Resources Minister warns companies not to lowball Guyanese workforce

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Guyana’s Minister of Natural Resources, Vickram Bharrat, said companies involved in the extractives sector must remove disparities in the treatment of local and expatriate workers, when it comes to pay and occupational health and safety (OHS). He said too,...
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Americas oil outlook revised down, but Guyana’s offshore boom remains a bright spot 

Production across the Americas is forecast to reach 63 million barrels of oil equivalent per day (mmboe/d) by 2031,...

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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