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Indian energy-based company seeking Guyanese joint venture

OilNOW -
Uttam Energy Limited (UEL), based in Pune, Maharashtra, India is seeking a joint venture with companies in the civil construction industry in Guyana. The company says it offers “the highest quality, most technologically advanced, and the most reliable solutions” in...
News

400 students participate in ExxonMobil supported STEM conference

OilNOW -
ExxonMobil Guyana partnered with the Volunteer Youth Corps (VYC) Inc. on Saturday to stage the 7th STEM Conference held at the Ramada Hotel in the country’s capital, Georgetown. The company said this latest collaboration with VYC is part of its...
News

Indonesia considers allowing for production sharing oil and gas contracts options

OilNOW -
(Reuters) - Indonesia is considering letting energy companies stick with the “cost recovery” system for oil and gas production sharing contracts, the energy minister said on Monday, after the government decided to adopt a new scheme in 2017. In 2017,...
Exploration

Apache to drill deeper at Maka-1 wildcat offshore Suriname

OilNOW -
Apache Corporation (NYSE, Nasdaq: APA) said Monday upon reaching a depth of approximately 6,200 meters at the Maka Central - 1 well offshore Suriname at Block 58, the company elected to conduct various testing activities in two distinct Upper Cretaceous...
News

US$120 billion in oil revenue is not the same as ‘nothing’ – Trotman

OilNOW -
Guyana’s Minister of Natural Resources Raphael Trotman says the South American country is set to receive billions of dollars in oil revenue and one of the most important discussions that should be taking place is how that windfall will...
News

Suriname nearshore drilling project ends with six dry holes

OilNOW -
Suriname state oil company Staatsolie has ended its Nearshore Drilling project which got underway in April, after encountering 6 dry holes off the country’s coast. While no commercial oil discovery was made, valuable data has been collected, Staatsolie said,...
News

Saipem awarded three-quarter billion euros in contracts for offshore wind farms

OilNOW -
Saipem has been awarded a contract by the French company EDF Renewables for the construction of the Neart na Gaoithe (NnG) wind farm offshore Scotland. This is the first turn-key project awarded to Saipem in the offshore wind farm sector....
News

OilNOW awarded by business chamber in Guyana

OilNOW -
Guyanese-owned and operated online platform OilNOW has received its second award in three months in recognition of coverage being provided on the country’s emerging oil and gas industry and related business activities. The most recent award was handed over by...
News

Oil recovers as China data offers hope for global demand

OilNOW -
(Bloomberg) Oil recovered some lost ground in Asian trade on Monday after an upbeat Chinese economic report at the weekend offered grounds for optimism on the global demand outlook. Futures were up 1% in New York, after losing 5.1% on...
Opinions

Audit and reporting for Guyana’s oil revenue administration

Bobby Gossai, Jr. -
An important mechanism of accountability is the periodic auditing of the oil fund. An oil revenue management law should specify the accounting method or methods the oil fund should follow and require all activity of the oil account to...
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Latest News

Stories Beyond the BarrelShikema Dey -

From chemistry to cargo: How Natina Singh became ExxonMobil Guyana’s first Operations and Logistics Superintendent

When Natina Singh began her academic journey in chemistry, she never imagined she would one day be managing logistics...

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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