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Good governance and applying Guyana’s oil income to national benefits

Bobby Gossai, Jr. -
Oil-rich low-income countries have sometimes been advised to accumulate their oil income into a national financial pool or fund (perhaps held in foreign stocks and bonds), and to spend only the “income” or “earnings” on the financial assets in...
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Guyana’s largest oil conference set for November

OilNOW -
The Guyana International Petroleum Exhibition (GIPEX) will take place from November 20 to 22 at the Guyana Marriott Hotel, in the country’s capital city, Georgetown. The event is being organised by UK-based Valiant Business Media in collaboration with the Department...
News

Operationalisation of oil fund expected after elections – Guyana finance minister

OilNOW -
Guyana’s Finance Minister, Winston Jordan, is calling on politicians and others in the country not to politicize the Natural Resource Fund (NRF), also known as the Sovereign Wealth Fund, but see the value in its operationalisation. In a recent interview...
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Eni CEO sees no future for companies working in just oil and gas

OilNOW -
(Reuters) There is no future for companies that work only in oil and gas in the medium- to long-term, the head of Italian major Eni said on Friday. “Diversification into renewable energy and the circular economy is crucial,” Claudio Descalzi...
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SBM is successful bidder for five Brazilian FPSOs

OilNOW -
SBM Offshore said on Friday it is the successful bidder for the interests held by Brazil’s Servicos de Petroleo Constellation in five floating production, storage and offloading vessels. The company said completion of the transaction remains subject to various conditions...
News

TT bank positioning itself for Guyana’s oil windfall

OilNOW -
A Trinidad and Tobago financial institution — First Citizens Bank — is looking to service Guyana’s Oil and Gas industry. This, as Guyana’s prospects increase, and the South American nation moves closer to first oil by 2020. The Bank expressed...
News

SBM secures US$1.14B financing for Liza Unity FPSO from consortium of 9 international banks

OilNOW -
SBM Offshore said on Wednesday it completed the project financing of the Liza Unity FPSO for a total of US$1.14 billion. The project financing was secured by a consortium of nine international banks. The Company said it expects to draw...
News

BHP hits pay in Trinidad while encountering dry hole at other prospect

OilNOW -
Australian based petroleum company BHP said on Thursday it has made one discovery while encountering a dry hole in exploration activities offshore the Caribbean twin island nation of Trinidad and Tobago. The company drilled two additional exploration wells at its...
News

Guyana prepping for 2nd EITI report

OilNOW -
Guyana is in the process of recruiting an Independent Administrator to prepare the country’s second report, which will be submitted to the international secretariat of the Extractive Industries Transparency Initiative (EITI). This is according to National Coordinator of EITI Guyana,...
News

No choice but to invest in oil – Shell CEO says

OilNOW -
Royal Dutch Shell still sees abundant opportunity to make money from oil and gas in coming decades even as investors and governments increase pressure on energy companies over climate change, its chief executive said. But in an interview with Reuters,...
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NewsIşıl Güneş -

Suriname’s National Debt Chief resigns amid enhanced financial scrutiny of NDP government 

PARAMARIBO, SURINAME - Malty Dwarkasing has resigned as Suriname’s Administrator-General of the National Debt Office. Dwarkasing submitted her resignation...

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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