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Shift in equity financing, farm-in timetable won’t affect CGX’s first well

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CGX Energy Inc. and Frontera Energy Corporation say that a pushing back of their equity financing and joint venture farm-in timeline to February 6. 2019 will not affect the drilling schedule for Utakwaaka-1 exploration well offshore Guyana in November. The...
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TechnipFMC’s Chairman calls it a day

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ExxonMobil Guyana Prime Contractor – TechnipFMC, announced on Wednesday that the company’s Executive Chairman, Thierry Pilenko has decided to retire from the Board of Directors, effective May 1, 2019, after the Company’s Annual General Meeting. Mr. Pilenko was appointed Executive...
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Venezuela claim on Guyana territory cuts Stabroek Block…’entirely’ – Greenidge

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More than five billion barrels of oil have been discovered to date off the Guyana coast in an area called the Stabroek Block which is internationally recognized to be part of the South American country’s Exclusive Economic Zone (EEZ)....
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Private refiners in Guyana will have to buy oil at market cost

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The Government of Guyana will not sell oil at a subsidized cost to any private investor who undertakes to build a refinery in the South American country. “Anyone who wishes to open a refinery can do so but they will...
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Guyana should seek broader alliance with US military to ward off threat from ‘desperate Venezuelan regime’ – Former Minister

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A former Guyanese government official believes that a sustained programme to facilitate military tactical support and coordination between Guyana and the United States of America would help to deter further aggression from Venezuela. Former Minister of Natural Resources and the...
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Canada’s ties to Venezuela hanging by a thread as clash escalates

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(CBC) Relations between Canada and Venezuela took a sudden plunge today as Ottawa appeared to reject an ultimatum issued by President Nicolas Maduro on the eve of his second inauguration. The dispute began with a letter sent by the Lima...
News

Lima Group won’t recognize Maduro regime; calls on Venezuela to desist from violating sovereign rights of neighbours

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The Lima Group says it has no intention of recognizing the new Nicolás Maduro regime in Venezuela and called on the South American country to desist from violating the sovereign rights of its neighbours. In a joint statement issued on...
News

Venezuela becoming increasingly aggressive in push for more territory

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Reports indicate that Venezuela has signaled its intention to remap its Caribbean oil and gas prospects which is a move that could further escalate rising tensions between that country and neighbouring Guyana, which has of late become an oil...
News

WoodMac estimates Pluma could contain 300 million barrels of oil

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Industry analyst Wood Mackenzie estimates that ExxonMobil’s 10th discovery off the Guyana coast at the Pluma 1 well could add an additional 300 million barrels of oil to what is a rapidly growing resource base for the US oil...
News

Demand for land increases with oil and gas prospects

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As the development of Guyana’s oil and gas resources continues, the Guyana Lands and Surveys Commission (GL&SC) has seen an increased demand for land. “There is a lot of interest in…waterfront lands and many people have their own idea about...
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Hull for Guyana’s Jaguar FPSO arrives at Singapore yard

SBM Offshore said the multi-purpose floater (MPF) 5 has arrived at the Seatrium yard in Singapore. The hull is...

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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