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FID and key terms in O&G industry

OilNOW -
FID is the Final investment decision to invest in a project, typically made by the board and executive committee of oil companies. At this point, major risks have been mitigated and concerns addressed. The project then moves to execution,...
News

Chevron gets treasure, trouble with rebel-hit Mozambique gas

OilNOW -
(Bloomberg) -- "With great power comes great responsibility," said Uncle Ben in the famous Marvel Comic turned blockbuster film Spider-Man (2002). Chevron Corp.’s acquisition of Anadarko Petroleum Corp. gives it access to the popular Permian Basin, in addition to...
News

China, Russia ‘spread disorder’ in Latin America – Pompeo

OilNOW -
(Bloomberg) Secretary of State Michael Pompeo blamed China and Russia for spreading “disorder” in Latin America by funding failing development projects and supporting leaders such as Venezuelan President Nicolas Maduro, who the U.S. insists must step down from power. Pompeo,...
Opinions

Enabling resource-rich Guyana to reduce poverty and inequality

OilNOW -
What should a government in a resource-rich state do about the gap between rich and poor populations (vertical inequality), and the gap between resource-rich and resource-poor regions (horizontal inequality)? Indeed, oil and gas exporters tend to have more varied...
News

Africa Oil ups stake in Eco Atlantic ahead of Guyana drill campaign

OilNOW -
Canada-based Africa Oil Corp. (AOI–TSX, AOI–Nasdaq-Stockholm) said on Wednesday it had acquired 4,752,850 common shares of Eco (Atlantic) Oil and Gas Ltd. (TSXV: EOG or LSE: ECO) for US$1.05 per common share for a total consideration of US$4,999,998. The common...
News

Chevron joins ranks of ultra-majors in US$50B powerhouse deal – could become operator of Roraima Block

OilNOW -
Chevron’s announcement on Friday that it was acquiring Anadarko in a US$50 billion deal will see it joining the ranks of the ultra-majors and puts it in position to potentially acquire the Roraima Block offshore Guyana, pending approval by...
News

Oil will impact Guyana in multiple ways: preparation to determine outcome

OilNOW -
The main economic impact of the oil sector on Guyana is expected to take place through oil revenues, which offer an opportunity to expand public investment in both human and physical capital, lifting key constraints to inclusive growth. So...
News

Guyana signs US$20M loan agreement for capacity building in Oil and Gas

OilNOW -
Guyana’s Minister of Finance, Winston Jordan on Thursday, April 11, participated in a signing ceremony with Ms. Tahseen Khan, World Bank Country Director for the Caribbean, on a loan agreement to build human resource capacity in the Oil and...
News

Exxon hits milestone at Stabroek Block as 1st pipe for Liza Phase 1 touches seabed

OilNOW -
Installation for the Liza Phase 1 Development in Guyana reached a milestone on Friday as the Saipem FDS 2 vessel lowered the first pipe to the seabed in preparation for oil production just months away. In a comment to OilNOW...
News

Keppel delivers world’s first EU Stage V dredger

OilNOW -
Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary, Keppel Singmarine Pte Ltd (Keppel Singmarine) has delivered the world's first European Union (EU) Stage V dredger on time, within budget and with a perfect safety record, strengthening...
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‘Business as usual’: No disruption in Guyana’s operations despite Venezuela controversy – GCCI Pres.  

Kathy Smith, President of the Georgetown Chamber of Commerce and Industry (GCCI), has made it clear that there has...

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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