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Guyana tax agency introducing upgraded revenue management system

OilNOW -
The Guyana Revenue Authority (GRA) said it will be replacing the current tax administration software - TRIPS II with a new tax software Optimal Revenue Management System (RMS) In February 2021, to improve taxpayer convenience and internal operational efficiencies. In...
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Onshore producers have higher carbon intensity says Rystad Energy in new analysis

OilNOW -
The carbon footprint of exploration and production companies (E&Ps) is having an increasing impact on investment levels, access to capital and – in some regions – the social license to operate. Rystad Energy has conducted a comprehensive company-level analysis...
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High impact drilling for Guyana this year, Wood Mackenzie says

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With limited budgets and rich inventories after a few years of active acreage loading, explorers will drill only the prospects that really matter this year. In its new report on global exploration, UK-based consultancy group Wood Mackenzie said companies...
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Pandemic brings new oil reality; some governments will offer better terms – Wood Mackenzie

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Governments, particularly those in economies dependent on the oil industry are looking to do their part by ensuring exploration and production activities remain economically feasible in an era where fiscal stress continues to be high, brought on by the...
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Crude oil futures rise, ICE Brent March contract settles above $57/b

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(S&P Global Platts) Crude oil futures rose in mid-morning trade in Asia Jan. 13 on a larger-than-expected draw in US crude inventories and a weakening US dollar. At 10:29 am Singapore time (0229 GMT), the ICE Brent March contract was...
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Venezuela increasingly isolated in bid to grab territory from Guyana through ‘illegal decree’

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The Caribbean Community on Tuesday joined with Guyana and the international community in condemning the move by President of Venezuela, Nicolas Maduro, to claim sovereignty in the waters and seabed adjacent to Guyana’s coast, west of the Essequibo River,...
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Ford puts brakes on operations in South America’s largest oil producing nation

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(AP) — Ford Motor Co. said Monday it will close three plants in Brazil and stop producing automobiles in the South American country where it has been operating since 1919. The company said in a statement it will cease production...
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Guyana political parties, stakeholders roundly condemn Venezuela ‘illegal decree’

OilNOW -
In a rare show of unity among the two major political parties in Guyana, both groups have issued statements strongly condemning the move by Venezuelan President Nicolas Maduro to issue a decree claiming sovereignty in the waters and seabed...
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Oil holds close to 11-month high, edges above $56

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(Reuters) - Oil rose above $56 a barrel on Tuesday and stayed close to an 11-month high, as tighter supply and expectations of a drop in U.S. inventories offset concerns over climbing coronavirus cases globally. Saudi Arabia has said it...
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Trotman slams Global Witness over ‘abominable, dirty deed’ as “Signed Away’ is withdrawn

OilNOW -
Former Guyana Minister of Natural Resources, Raphael Trotman, on Monday released a statement heavily criticizing international NGO, Global Witness, in wake of the organisation’s move to withdraw its controversial report - Signed Away – issued in February 2020. Below is...
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Energy InsightsChevy Devonish -

The Oil Pollution Prevention, Preparedness Response and Responsibility Act: Liability 

In my last piece, I gave an overview of Guyana’s new Oil Pollution Prevention, Preparedness Response and Responsibility Act...

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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