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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...
News

‘Job-creation, world-class education and health care’ among campaign promises of Guyana’s main opposition party as oil production set to get underway

OilNOW -
With what is being described as the ‘mother of all elections’ on the horizon, the main opposition party in the soon-to-be newest oil producing country in South America – Guyana - has released an excerpt of its manifesto which...
News

Brazil, China, UAE firms in second round of bids for Petrobras refineries

OilNOW -
(Reuters) - Brazil’s state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) has selected four groups for the second round of bidding for four refineries up for sale, including China’s Sinopec, Abu Dhabi’s state investor and two Brazilian firms, according to...
News

Adjustment in policies, enabling business environment for Guyanese necessary – fmr. Jamaican PM

OilNOW -
As Guyana swiftly approaches first oil, which is expected next month, former Prime Minister of Jamaica, Portia Simpson-Miller, is warning that certain adjustments need to be made as the South American country prepares for the anticipated windfall. She expressed these...
News

Guyana Shore Base is now a 24hr facility employing 94% locals

OilNOW -
Majority Guyanese-owned port company – Guyana Shore Base Inc. (GYSBI) has moved from operating on a 12-hour basis employing just a handful of Guyanese to what is now a 24-hr facility with a 94% local workforce. Muneshwers Limited, Pacific Rim...
News

Brazil + OPEC forever? Hold off on those wedding invites says Rystad Energy

OilNOW -
At an October forum in Saudi Arabia, Brazil’s president Jair Bolsonaro suggested that he would like to see Brazil join OPEC. If such a marriage were to come to fruition, OPEC would be the clear winner and Brazil the...
News

Noble Don Taylor sails into Stabroek Block

OilNOW -
The drillship Noble Don Taylor has arrived offshore Guyana to begin a one-year contract for drill campaigns at the Stabroek Block, operated by US oil major ExxonMobil, with co-venturers Hess and China’s CNOOC. The Noble Don Taylor brings the total number...
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NewsOilNOW -

Staatsolie approves commercial field for Sloanea-1 gas discovery in Suriname’s Block 52

Staatsolie Maatschappij Suriname N.V. has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname....

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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