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Local regionalisation and regulatory framework for Guyana’s future energy market

OilNOW -
Privatisation of the energy industry will only be effective in improving efficiency to the extent that it creates a market in the purchase and sale of energy; in other words, only if the present public sector monopoly can be...
News

Exxon to begin drilling development wells for Liza Phase 2 early next year

OilNOW -
ExxonMobil Guyana will begin drilling development wells for the 220,000 barrels per day Liza Phase 2 Development project early 2020 and is already looking to bring in a fourth drill ship by the end of this year, to facilitate...
News

Venezuela: from a bright future to an economic disaster in 20 years

OilNOW -
Venezuela enjoys the largest proven oil reserves in the world. According to OPEC’s 2018 Annual Statistical Bulletin, some of Venezuela’s natural resources include gas, iron, gold, bauxite, and diamonds. Its economy, however, is spiraling downward with no end in...
Exploration

Tullow spuds Guyana wildcat; results expected in August

OilNOW -
UK-based Tullow Oil and its joint venture partners have spudded their first well at the Orinduik Block offshore Guyana located just miles away from the multi-billion-barrel Stabroek Block where US oil major ExxonMobil has to date made a record...
News

Halliburton and other drillers are fighting for new life in a world of cheap oil

OilNOW -
For the oilfield services industry, it’s no longer about merely navigating a downturn. It’s now about survival. Five years after crude began its plunge to less than $30 a barrel from more than $100, the companies that drill and frack...
News

Guyana to raise gov’t royalties for future oil licenses

OilNOW -
(Reuters) - Guyana is preparing to raise the take of the government in future oil licences, the director of the South American country’s Department of Energy said on Wednesday. U.S. energy giant Exxon, French group Total and Britain’s Tullow Oil...
News

Guyana did not receive signing bonus from Frontera-CGX farm-in – Dept. of Energy clarifies

OilNOW -
When Frontera Energy Corporation acquired a 33.33 percent share in CGX Energy’s license for exploration in the Corentyne and Demerara offshore blocks in 2018, the Guyana government did not receive revenue from this deal since it was a business-to-business...
News

Major O&G summit on Guyana begins July 3 in London

OilNOW -
As one of the few major new conventional oil regions discovered this century, Guyana is set to be transformed over the course of the next decade, with the country predicted to emerge as a top per capita producer of...
News

Tullow shares jump

OilNOW -
Shares in Tullow Oil jumped by a further 4% on the back of the company forecasting slightly higher production levels at a key asset in western Africa and exploration at a wildcat in the South American country of Guyana,...
News

GDP growth will not show level of national well-being – Guyanese Economist

OilNOW -
The recently published article by Nasdaq on the five fastest growing economies in the world, from which Guyana has been highlighted as the number one ranked economy to grow the fastest in the coming years with a projected growth...
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Latest News

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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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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