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Clarity, transparency needed for ‘cash transfers’ – expert warns

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Following an announcement by the Guyana Government that there would be targeted cash transfers from oil revenues for the country’s vulnerable, an expert in the natural resources industry is advising that the world’s newest oil producing nation establishes a...
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Stabroek Block flaring 17 times lower than global average

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According to the World Bank Global Gas Flaring Tracker Report released in July this year, the global average for flaring stands at 8.49 billion cubic meters as of 2019. Russia, Iraq, the United States, Iran and Venezuela are the top five countries...
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O&G investments result in capital account surplus of US$1.8 billion for Guyana

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Investments being made in Guyana’s growing oil and gas sector have resulted in a capital account surplus in 2019--the year that the South American nation achieved first oil.  Guyana’s Minister of Public Works, Juan Edghill, highlighted the performance of the...
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Cash transfers from O&G for the vulnerable – says new Guyana Government

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Among the announcements made on Wednesday during a Budget 2020 Speech made by Guyana’s Minister of Public Works, Juan Edghill, was a promise of cash transfers for the country’s vulnerable.  “The oil resource belongs to the people of Guyana. We...
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Approval of Payara this month will keep 2023 first oil target on track – Hess

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Although already delayed since 2019, if the Payara development is approved by the end of September, this will ensure that the 2023 timeline for oil production start-up remains on track, adding another 220,000 barrels of oil per day to...
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TT Energy Chamber launches Local Content Management System

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The Energy Chamber of Trinidad and Tobago on Wednesday launched its Local Content Management System (LCMS), the first of its kind in the region, which seeks to establish a robust framework to estimate the proportion of a dollar spent...
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Shell acquires Kosmos’ offshore interests in Suriname

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Kosmos Energy on Wednesday said that it has entered into an agreement with B.V. Dordtsche Petroleum Maatschappij (Shell), a wholly-owned subsidiary of Royal Dutch Shell PLC, to farm down interests in a portfolio of frontier exploration assets for approximately...
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Tullow still processing ‘heavy oil’ data from Guyana discoveries

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UK-based Tullow Oil said on Wednesday it is still processing data from the discoveries it made last year at the 1,800km2 Orinduik block offshore Guyana. The block partners had found oil at the Jethro-1 and...
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Payara, other offshore developments will help push Guyana’s long-term growth plans – Natural Resources Minister

OilNOW -
As the volume of petroleum resources at the prolific Stabroek Block offshore Guyana continues to increase with yet another discovery announced by US oil major ExxonMobil on Tuesday, the country’s Minister of Natural Resources says the Payara development, which...
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Oil companies commit to have contractors address equal pay concerns – Labour Minister

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Guyana’s new Minister of Labour, Joseph Hamilton has been engaging oil companies to address issues in the oil and gas sector such as equal pay for Guyanese workers. According to the official, companies including ExxonMobil and Tullow Oil have...
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Kumu’s new small-scale hydropower plant now operational

Guyana commissioned a new 1.5 megawatt (MW) hydropower station in the southeastern community of Kumu on Friday, part of...

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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