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Study shows Suriname businesses must boost capacity to benefit from offshore oil industry

OilNOW -
As the search for oil continues offshore Suriname, the Dutch-speaking South American country is looking to put systems in place for what the country hopes is an imminent discovery. State oil company Staatsolie recently commissioned an Industrial Baseline Study (IBS)...
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IDA to provide US$1.6M for capacity building

OilNOW -
The International Development Association (IDA), a branch of the World Bank will be providing some US$1.6 million, to aid in preparations for Guyana’s developing oil and gas sector. During a Thursday, August 16, 2018, press conference at the South-American nation’s...
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Venezuela’s crack-up is accelerating

OilNOW -
Country’s neighbors — and the world — should prepare for the worst (Bloomberg) What happens when the country with the world’s largest oil reserves becomes its latest failed state? As Venezuela’s government grows increasingly despotic, a crack-up is accelerating —...
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Guyana President pledges full transparency in stewardship of O&G sector

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Guyanese Head of State, President David Granger has pledged his administration’s ethical stewardship of the country’s developing Oil and Gas industry and integrity in the management of the revenues from the sector. In addressing his supporters at the People’s National...
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Guyana Business Minister to meet with potential UK investors

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Guyana’s Minister of Business Dominic Gaskin will be travelling to the United Kingdom (UK) to meet with potential investors in a number of the South-American nation’s productive sectors, including the emerging petroleum industry. The decision to send the Minister on...
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GRA boss for overseas oil and gas training

OilNOW -
Commissioner General of the Guyana Revenue Authority (GRA), Godfrey Statia, has been selected to attend the 5th Government Oil & Gas Fiscal Summit in the United Kingdom. It takes place from October 4 -5, 2018. This was announced by Guyana’s...
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No more cheap fuel…for some

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Venezuelan President Nicolás Maduro has the announced the end of Venezuela’s notoriously inexpensive subsidized gasoline for opponents. According to a report in the Panam Post, the Venezuelan President said on August 14 that he will maintain the subsidy for...
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Oil refinery not on “immediate horizon” – Guyana Finance Minister

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As preparations move forward in Guyana for oil production, set to begin in less than 24 months, the country’s Finance Minister, Winston Jordan, says the prospect of building a local refinery is not an immediate concern of government. Mr Jordan...
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Kosmos on location for new drill campaign at Pontoenoe-1 in Suriname

OilNOW -
Kosmos Energy’s Ensco DS-12 drillship is on location approximately 17 km east of the Guyana-Suriname maritime boundary in its new search for hydrocarbons at the Pontoenoe-1 prospect on Block 42 offshore Suriname. OilNOW understands the Ensco DS-12 arrived on location...
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Int’l expert was envisioned to head Guyana’s Energy Department – Fmr Presidential Advisor

OilNOW -
When initial discussions took place on what the requirements should be for the person to head Guyana’s new Department of Energy, expertise in the area of oil and gas was one of the main criteria. Speaking to OilNOW from Houston,...
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CNOOC’s record production in Guyana boosts strong Q3 results

CNOOC Limited announced its highest-ever net production and net profit for the third quarter of 2024, crediting increased output...

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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