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Beneficial ownership of Guyana oil blocks will have to be disclosed to EITI

OilNOW -
Guyana, as an Extractive Industries Transparency Initiative (EITI) implementing country, is among the those mandated to comply with Requirement 2.5 of the EITI Standard 2019 which relates to full disclosure of beneficial ownership of companies, including those in oil...
Exploration

Petronas spuds first well offshore Suriname

OilNOW -
Malaysian oil and gas company Petronas has spudded its first well - Sloanea-1 - offshore Suriname at Block 52 where it has farm-down 50% of its interest to US oil major ExxonMobil. Denmark-based drilling rig operator Maersk Drilling is carrying out...
News

Another oil major moving to cut jobs

OilNOW -
Chevron Corp employees worldwide are being asked to reapply for positions as part of a cost-cutting program expected to eliminate up to 15% of its workforce, Reuters said in a recent report. The No. 2 U.S. oil producer has begun...
News

Guyana, oil companies must work together – can’t be “us against them” – Energy Consultant

OilNOW -
An energy consultant is urging Guyana to create an investment environment that is built on the pillars of stability and security since this is the most effective way of attracting and keeping the big capital and expertise needed to...
News

Guyana must develop its multi-billion-barrel oil resources in narrow 20-year window

OilNOW -
New oil producer Guyana, with just one field under development so far and two additional projects approved, may have around 20 years remaining to bring to market the several billion barrels of oil equivalent resources found offshore to date....
News

CLBD’s mentorship programme providing pathway for Guyanese companies to elevate standards

OilNOW -
Since the emergence of the oil and gas sector in Guyana, more local companies have been pursuing measures geared towards improving standards, efficiency, customer satisfaction and international recognition.  For such organizations looking to improve the quality of their products and...
News

Guyana poised to drastically transform despite debates about the “best deal” – IDB Report

OilNOW -
Using a model of five developments being underway by 2025 offshore Guyana targeting an estimated 750,000 barrels of oil per day, the Inter-American Development Bank (IDB) says considering the sequencing of the projects, Guyana would ultimately accumulate around US$49...
News

Investors continue to pour in as Guyana’s offshore developments grow

OilNOW -
Interest from investors in the new oil producing country of Guyana continue to grow and this is expected to see major transformational projects getting underway in the coming months and years. Guyana’s President, Dr. Mohamed Irfaan Ali, recently disclosed that...
News

ActionINVEST is latest Guyanese company to achieve ISO 9001 certification

OilNOW -
With support from the Centre for Local Business Development (CLBD), ActionINVEST Caribbean Inc. (ACI), formerly ActionCOACH Guyana, has achieved the ISO 9001:2015 certification from the Global Compliance Service USA. This certification is the international standard for quality management systems. Executive...
News

As Guyana operations move forward, ExxonMobil set to reduce European workforce by up to 1600

OilNOW -
As exploration and production activities ramp-up offshore the South American country of Guyana, US oil major ExxonMobil plans to reduce staffing levels across a number of its European affiliates as part of an extensive global review outlined during the...
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Ali names 25-member cabinet; Vickram Bharrat back at oil ministry

President Irfaan Ali of Guyana unveiled 25 ministerial Cabinet appointees on Saturday evening, as the government embarks on its...

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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