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ExxonMobil makes natural gas discovery offshore Cyprus

OilNOW -
ExxonMobil on Thursday said it has made a natural gas discovery offshore Cyprus in the Eastern Mediterranean at the Glaucus-1 well wrapping up what has been a good month with two major discoveries made earlier in February in the...
News

Political discord hindering Guyana’s preparations for oil – Nigel Hughes

OilNOW -
Guyanese Attorney–At–Law, Nigel Hughes, believes that uncertainty surrounding the current political climate in the South American country following the December 21 passage of a no-confidence motion against the government is hindering its ability to effectively prepare for the start...
News

Guyana business minister plugs investment at Baker Institute forum

OilNOW -
Guyana’s Minister of Business, Dominic Gaskin, told a forum in the United States on Tuesday that the South American country is looking to chart its own course for economic prosperity and welcomes foreign investment that advances this agenda. Mr. Gaskin...
News

EITI assesses implementation in eight countries; TT acknowledged for ‘dynamic platform’

OilNOW -
As Guyana prepares to submit its first report to the Extractive Industries Transparency Initiative (EITI), the organization said on Wednesday that its Board assessed the status of eight implementing countries, including Ethiopia, Ghana, Guinea, Malawi, Mauritania, Nigeria, Norway and...
News

Possible oil reserves upsized for Jamaica

OilNOW -
The probability of finding oil offshore Jamaica improved to a one-in-five chance of success, based on an independent report utilising 3D data, the Jamaica Gleaner reported on Wednesday. The 2019 report also upsized the 2017 baseline estimates of the quantity...
News

AmCham aiming to attract foreign investment to Guyana at upcoming NY forum

OilNOW -
The Guyana affiliate of the American Chamber of Commerce (AmCham) will be hosting a Business Forum and Outreach with members of the business community in New York on March 2 at the Inter-Continental Hotel at Times Square. The forum was...
Exploration

Guyana discoveries help ExxonMobil add 4.5 billion barrels to its reserves

OilNOW -
ExxonMobil said on Tuesday it added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, replacing 313 percent of the year’s production. The company said continuing success in exploration and strategic acquisitions in Guyana and Brazil have...
News

Department of Energy officials could soon have to declare assets – Integrity Commission

OilNOW -
The Integrity Commission in Guyana which is tasked with combating corruption in public office, is looking to add officials from the Department of Energy to its list of persons required to declare their assets. Assets, according to the Integrity Commission,...
News

Fourth batch of young Guyanese certified in oil and gas safety

OilNOW -
A total of 25 Guyanese, including three women, graduated from the TOTALTEC Academy on February 21, 2019, bringing the number of persons to complete the one-year old programme to over 100. The graduating class is now trained and ready to...
News

Half-billion dollars of sanction-stained oil sits off Venezuela

OilNOW -
(Bloomberg) Venezuela is running out of space to store its sanction-stained crude that few dare to buy, forcing it to reduce output at a time when the world is thirsty for heavy, sulfurous oil. Tankers holding 8.36 million barrels of...
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U.S. Bank confirms US$526M loan to help Guyana slash 460,000 tonnes of emissions annually

The Export-Import Bank of the United States (EXIM) confirmed that its Board approved a $526 million loan to Guyana...

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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