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Arbitrary withdrawal, willy-nilly spending of oil money punishable under the law – Dr. Singh

OilNOW -
Guyana’s Natural Resources Fund (NRF) legislation passed this week in Parliament is part of the country’s broader legal architecture, subject to rules and procedures already in place that govern the handling of public funds. And according to Senior Minister with...
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Georgetown port now sees an average of 52 ships per week, up from 7 – Edghill

OilNOW -
The rapidly expanding oil and gas operations in Guyana continue to fuel significant commercial activities and authorities say the local content legislation passed this week will help to ensure Guyanese cash in big on these growing opportunities. “This bill guarantees...
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Oil edges closer to $80 on expectations fuel demand holds up

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(Reuters) - Oil prices rose slightly on Thursday on expectations that fuel demand held up despite soaring Omicron coronavirus infections and that OPEC and its allies would continue to increase imports only incrementally. Gains eased as the world's top importer...
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Chamber ‘shocked, dismayed’ by chaos in Guyana’s Parliament

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI) said on Thursday it was shocked at the behaviour displayed in Guyana’s National Assembly on Wednesday as the government passed major legislation for oil and gas operations in the South American...
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Guyana advances major oil and gas legislation as pandemonium breaks out in Parliament

OilNOW -
Guyana on Wednesday passed major bills in Parliament, soon to be signed into law, that would advance the country’s framework for managing the rapidly expanding oil and gas sector which is set to rake in billions of U.S. dollars...
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Guyana passes landmark local content bill

OilNOW -
Guyana’s long awaited local content legislation will soon be a reality after the landmark Local Content Bill 21 of 2021 was passed today in the National Assembly. The landmark bill paves the way for local companies and citizens to participate...
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Energy Chamber fully supports wealth fund bill, says measures ensure greater accountability

OilNOW -
The Guyana Oil and Gas Energy Chamber (GOGEC) said on Wednesday it is in full support of the Natural Resource Fund Bill 2021 which government hopes to have passed soon in Parliament and signed into law. See GOGEC’s statement below: GOGEC...
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More time needed for public input on wealth fund bill, says GCCI

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI) says while it commends the Guyana government for its effort at attempting to improve public accountability and transparency with respect to the management and operation of the Natural Resources Fund, more...
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Guyana has earned close to one million U.S. dollars per day in oil revenue

OilNOW -
Twenty-four months have gone by since ExxonMobil began producing oil at the prolific Stabroek Block offshore Guyana. The government has exported approximately nine million barrels of Liza Crude over this period - four in 2020 and five this year...
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Products from new Suriname seismic campaign to be available from April 2022

OilNOW -
The first products from a multi-client seismic campaign offshore Suriname will be made available from April 2022. The 3D survey which got underway in November is adjacent to the prolific Block 58 and will cover the up-dip portions of...
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Chevron CEO hails Hess deal as 2025’s biggest U.S. merger, bets on lasting oil demand

Mike Wirth, Chief Executive Officer of Chevron, defended the company’s oil-first strategy in a recent interview with the New...

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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