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“We have to take energy seriously” – Guyana President tells residents in remote border village

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Villagers in the remote Rupununi - an area located in the south-west of Guyana bordering the Brazilian Amazon - are being urged to harness the power of the sun to push economic diversity. The charge was given by President...
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Brazil’s Petrobras to pay $853.2 million in penalties

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(AP) — Brazil's state oil company Petrobras said Thursday it had agreed to pay more than $850 million in penalties for bookkeeping violations related to bribes to Brazilian politicians and political parties. Petrobras said in a securities filing that the...
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CNOOC considering selling US oil assets as Guyana discoveries redefine company’s perspective

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China’s CNOOC which owns a 25 percent interest in the Stabroek Block offshore Guyana is considering selling parts of its U.S. oil assets in the Gulf of Mexico, Reuters reported a company spokesperson as saying on Thursday.  The spokesperson...
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World Bank funding to help expedite ExxonMobil cost recovery audit

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Guyana’s Opposition Leader, Bharrat Jagdeo, had suggested that the Government should consider hiring external experts to audit the pre-production cost incurred by ExxonMobil in its operations offshore, particularly since the Guyana Revenue Authority (GRA) is already overburdened with work. In...
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Int’l expert due in November to aid GRA in setting up O&G unit – Statia

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Commissioner General of the Guyana Revenue Authority (GRA), Godfrey Statia told media operatives on Wednesday that an ‘in-house expert’ for the soon-to-be functional oil and gas unit within the GRA has been recruited. Statia pointed out that, “He would be with...
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No guarantee other oil companies in the Guyana Basin will strike it big like Exxon – Wood Mack

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The Guyana-Suriname Basin is a vast expanse of deep to ultra-deep water with multiple play types where, despite ExxonMobil’s unprecedented success, exploration is still a high-risk venture. But Exxon’s 9 discoveries, which to date, amounts to more than 4...
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“We work with an ethical supply chain that values women, men and different races” – Saipem President

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Italian oil and gas industry contractor, Saipem, on Tuesday facilitated a safety leadership forum in Guyana at ExxonMobil’s Centre for Local Business Development. Saipem is one of the primary contractors for the US oil major in Guyana and was recently awarded...
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Total eyes deepwater expansion to 2025, scope for new projects

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(S&P Global Platts) Total expects its deepwater oil and natural gas production to grow by more than 40% to around 500,000 b/d of oil equivalent by 2025 on the back of new projects in offshore Brazilian and Gulf of...
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Brazil cuts oil royalties to boost recovery rates

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(Argus Media) Brazil's hydrocarbons regulator ANP reduced royalties to 5pc from around 10pc in an effort to boost recovery at qualifying mature fields. The royalty reduction is contingent on new investment commitments and only applies to those fields that have...
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‘No need to delay Liza Phase 2’ – Dr Mark Bynoe

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Head of Guyana’s Department of Energy (DOE) Dr Mark Bynoe says there is no need to delay the Liza Phase 2 development pending an audit of contract costs for Liza Phase 1. Over the last week, Dr Jan Mangal, former...
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Hess reports Q3 gains with Guyana leading production growth

Hess Corporation revealed a strong third quarter driven by expanded production in Guyana’s offshore Stabroek Block. The company reported...

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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