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300 women part of local workforce supporting ExxonMobil operations in Guyana

OilNOW -
At the close of the third quarter of 2019, more than 1,700 of the workers supporting project development activities at the Stabroek Block offshore Guyana are Guyanese, 300 of which are women in both the professional and technical fields. ExxonMobil...
News

Dept. of Energy assures it is pursuing best value for Guyana’s crude

OilNOW -
Guyana’s Department of Energy (DE) on Sunday issued a statement responding to concerns in sections of the media about the approach being taken to sell the country’s first three lifts of crude from the Liza Phase 1 Development set...
News

Measures to introduce Liza grade crude to market consistent with Petroleum Agreement – Dr. Bynoe

OilNOW -
As Guyana gears up for oil production, possibly within days, the Department of Energy (DE) is pursuing discussions with a few companies for the potential placement of the country’s first 3 cargoes from its entitlement, as part of measures...
Opinions

Public governance and integrity for Guyana’s oil wealth

Bobby Gossai, Jr. -
Matters such as public governance and integrity may be already addressed by existing legislation; if not, they should be addressed in the oil revenue management law or in ancillary regulation. At a minimum, the basic principles of public governance...
News

Traders expected in Guyana within days to bid on oil cargoes

OilNOW -
At least half a dozen traders from Houston, Geneva and London are set to arrive in Guyana this weekend to bid on some of the first oil cargoes to be produced by the tiny South American nation. "After careful consideration,...
News

Global upstream investments set to decline in 2020

OilNOW -
Rystad Energy is forecasting that overall global upstream investments in 2020 will decrease by around 4%. Investments in shale/tight oil are expected to contract the most next year by almost 12%. Rystad Energy believes that the lower oil price and...
News

Mexico’s major oil find could strangle foreign investment for years: analyst

OilNOW -
(S&P Global Platts) Pemex's massive new oil discovery at the Quesqui field might paradoxically prove to be the worst news of 2019 for Mexico's energy sector, as it will be used to justify a shunning of badly needed private investment...
News

USAID $500K project to boost Guyana’s transparency efforts

OilNOW -
The United States Agency for International Development announces a $500,000 USD Extractive Industries Transparency Project to promote transparency and good governance in Guyana’s extractive industries. According to a statement from the US Embassy in Georgetown on Friday, the aim of...
News

Safety first, then first oil – production imminent

OilNOW -
From the first discovery announced in May 2015, to first oil, now potentially just days away; the tremendous work that has gone into bringing the Liza Phase 1 Development project to the point of production will soon pay off. The...
News

Oil fields above $60 break-even will be priced out – Stabroek remains viable

OilNOW -
Energy projects that need oil prices above $60 per barrel in order to break even risk being uncommercial going forward, according to Rystad Energy. However, massive investments in exploration and sanctioning are still needed to meet growing global demand. As...
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MODEC to introduce new offshore training programme in Guyana 

MODEC is expected to unveil a new training programme to bolster Guyana’s existing offshore capabilities, Country Manager Rafeal Fumis...

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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