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OilNOW awarded by business chamber in Guyana

Guyanese-owned and operated online platform OilNOW has received its second award in three months in recognition of coverage being provided on the country’s emerging oil and gas industry and related business activities. The most recent award was handed over by...

Oil recovers as China data offers hope for global demand

(Bloomberg) Oil recovered some lost ground in Asian trade on Monday after an upbeat Chinese economic report at the weekend offered grounds for optimism on the global demand outlook. Futures were up 1% in New York, after losing 5.1% on...

Audit and reporting for Guyana’s oil revenue administration

An important mechanism of accountability is the periodic auditing of the oil fund. An oil revenue management law should specify the accounting method or methods the oil fund should follow and require all activity of the oil account to...

‘Job-creation, world-class education and health care’ among campaign promises of Guyana’s main opposition party as oil production set to get underway

With what is being described as the ‘mother of all elections’ on the horizon, the main opposition party in the soon-to-be newest oil producing country in South America – Guyana - has released an excerpt of its manifesto which...

Brazil, China, UAE firms in second round of bids for Petrobras refineries

(Reuters) - Brazil’s state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) has selected four groups for the second round of bidding for four refineries up for sale, including China’s Sinopec, Abu Dhabi’s state investor and two Brazilian firms, according to...

Adjustment in policies, enabling business environment for Guyanese necessary – fmr. Jamaican PM

As Guyana swiftly approaches first oil, which is expected next month, former Prime Minister of Jamaica, Portia Simpson-Miller, is warning that certain adjustments need to be made as the South American country prepares for the anticipated windfall. She expressed these...

Guyana Shore Base is now a 24hr facility employing 94% locals

Majority Guyanese-owned port company – Guyana Shore Base Inc. (GYSBI) has moved from operating on a 12-hour basis employing just a handful of Guyanese to what is now a 24-hr facility with a 94% local workforce. Muneshwers Limited, Pacific Rim...

Brazil + OPEC forever? Hold off on those wedding invites says Rystad Energy

At an October forum in Saudi Arabia, Brazil’s president Jair Bolsonaro suggested that he would like to see Brazil join OPEC. If such a marriage were to come to fruition, OPEC would be the clear winner and Brazil the...

Noble Don Taylor sails into Stabroek Block

The drillship Noble Don Taylor has arrived offshore Guyana to begin a one-year contract for drill campaigns at the Stabroek Block, operated by US oil major ExxonMobil, with co-venturers Hess and China’s CNOOC. The Noble Don Taylor brings the total number...

Texas oil explorers say predictions of growth contradict dire reality

(Bloomberg) Texas wildcatters, after years eye-rolling at shale skeptics, are now saying global analysts are underestimating just how severe the industry’s slowdown is. What’s ticking folks off these days is how the International Energy Agency in Paris and the Energy...

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Ali in fiery exchange with BBC journalist about Guyana’s oil

Guyana’s President, Dr. Mohamed Irfaan Ali, sat down for an interview with BBC journalist, Stephen Shakur, on the sidelines...