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Macroeconomic effects of oil price volatility and the implications of energy subsidy reforms

Bobby Gossai, Jr. -
Sharp increases in the price of oil and other energy products are referred to as classical examples of negative supply shocks (Hamilton 2005). Increases in the price of oil lead to increases in the cost of production, which in...
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Capping stack, decommissioning pact among Liza 2 requirements – Dr. Bynoe

OilNOW -
Guyana’s Department of Energy (DE) on Friday disclosed a number of measures which it says is tied to the approval granted to ExxonMobil for the 220,000 bpd Liza Phase 2 Development project in the Stabroek Block offshore the South...
News

CGX begins survey ahead of Utakwaaka-1 drill campaign

OilNOW -
CGX Energy is moving to undertake a shallow hazard survey at the Utakwaaka-1 well site within the Corentyne Block, offshore the South American country of Guyana. The operation, set to begin on May 5 and conclude on May 31, will...
News

Guyana approves Frontera/CGX farm-in

OilNOW -
Director of the Department of Energy Dr Mark Bynoe said that the Government of Guyana has given its approval for the farm-in joint venture agreement between CGX Energy and Frontera Energy Corporation for exploration in the Corentyne and Demerara...
News

ExxonMobil to proceed with US$6 billion Liza Phase 2 project in Guyana

OilNOW -
US oil major ExxonMobil announced on Friday it will be proceeding with its US$6 billion Liza Phase 2 Development project offshore the South American country of Guyana. ExxonMobil’s announcement comes just after Director of Guyana’s Department of Energy, Dr. Mark...
News

Large Guyana contingent for OTC 2019

OilNOW -
The South American country of Guyana will be sending a large contingent to the upcoming Offshore Technology Conference (OTC) to be held from May 6 to 9 at the NRG Park, Houston, Texas. The Government of Guyana through the Guyana...
News

Oil & gas contributed GY$2.8 billion in revenue to Guyana in 2017

OilNOW -
The recently released Guyana Extractive Industries Transparency Initiative (GYEITI) country report for the year 2017 said with regards to government revenues, the oil and gas sector contributed some $2,860,000,000 (USD14,300,000). The report which was compiled over the course of 2018...
News

Guyana EPA says all environmental requirements met for Liza Phase 2

OilNOW -
The Environmental Protection Agency (EPA) in Guyana says all requirements for which it has responsibility have been met by ExxonMobil Guyana for the 220,000 bpd Liza Phase 2 Development Project. Executive Director of the EPA, Dr. Vincent Adams, told OilNOW...
News

ExxonMobil conducting met-ocean survey at Stabroek

OilNOW -
ExxonMobil Guyana is currently conducting a met-ocean survey at its Stabroek Block offshore the South American country of Guyana. The operation, which is scheduled to conclude on May 5, is being executed by the M/V Sea Service some 90 nautical...
News

Trade unionist wants Guyana to use oil revenue to boost health care, provide free education

OilNOW -
General Secretary of the Guyana Trades Union Congress (GTUC), Lincoln Lewis on Wednesday called on authorities to use some of the monies coming from the oil and gas sector to revamp the country’s healthcare system and provide free education. Speaking...
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Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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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