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Oil rises on stronger economic outlook

OilNOW -
(Reuters) -Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States, the world’s biggest fuel consumer, fell. But optimism about talks between...
News

Local content to remain at forefront of agenda, says newly elected GCCI President Timothy Tucker

OilNOW -
The newly elected Council of the Georgetown Chamber of Commerce and Industry (GCCI) in Guyana held its first Statutory Council Meeting on Tuesday and elected a new Executive Management Committee (EMC) for the year 2021/2022. This saw former Vice...
News

New discovered volumes in Guyana shrank to 1 billion barrels for first time last year

OilNOW -
2020 saw a dip in the number of exploration wells drilled in Guyana for the first time since 2015 with new discovered volumes shrinking to 1 billion barrels of oil equivalent resources. This further highlights the risky nature of...
News

Local content commission could ensure Guyanese are not being hoodwinked – Timothy Tucker

OilNOW -
Senior member of the Georgetown Chamber of Commerce and Industry (GCCI) Timothy Tucker says several of the factors that constitute what a local business is should be strengthened in the context of Guyana’s revised draft local content policy and...
News

Tullow kicks off multi-well drill campaign in Ghana

OilNOW -
Tullow Oil plc (Tullow) announced on Tuesday the start of a multi-year, multi-well drilling campaign offshore Ghana with the commencement of drilling of the first well at the Jubilee Field on April 5. As previously announced, the Maersk Venturer, which...
News

Brazil’s oil industry in grip of deadliest pandemic wave yet

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(Reuters) - The deadly coronavirus wave that has torn through Brazil in recent weeks has not spared its oil industry, according to unions and government data reviewed by Reuters, with infections among workers jumping and production taking a hit. New...
News

Guyana seeking firm to conduct cost-recovery audit, validation of profit oil share

OilNOW -
Guyana’s Ministry of Natural Resources is seeking consultancy services for cost recovery audit and validation of the country’s profit oil share for the period January 2018 to December 2020. According to a notice published by the Ministry of Natural Resources,...
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Local content and immigration in Guyana

OilNOW -
By Steven Jasmin - OilNOW Over the past 4 years Guyana has worked hard to iterate and develop a local content strategy and policy that strikes the balance of helping and protecting the Guyanese population, while simultaneously encouraging growth. As it...
News

OilNOW TV webinar series continue tonight with focus on local content

OilNOW -
A revised draft Local Content Policy has been the focus of intense consultations in Guyana since February, and it is expected that an updated version of this document will form the basis for a local content framework that would...
News

Oil giant Saudi Arabia aims to build futuristic zero-carbon city of the future

OilNOW -
(S&P Global Platts) In an isolated patch on the Red Sea coast, Saudi Arabia has unveiled a grand vision of a futuristic zero-carbon community called Neom, fueled by hydrogen, a showpiece for Crown Prince Mohammed bin Salman in his...
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Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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