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Guyana expected to become less dependent on donor funds when oil begins to flow

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Guyana is less than two years away from becoming a major oil producing economy and Chief Executive Officer of the CARICOM Development Fund (CDF), Rodinald Soomer, said the imminent revenue expected from this development could change the South American country’s...
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In pursuit of oil Guyana remains committed to going green

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As Guyana gears up to become a major oil producer in the region the South American country’s commitment to a green economy can be maintained by pursuing a ‘regenerative model’ of development according to Secretary General of the Commonwealth...
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Guyana on BP’s radar as oil major looks to expand presence in region

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Oil major BP Plc is closely following oil auctions in Brazil, Mexico and other potential offshore investment opportunities in Guyana, Colombia and Suriname in a bid to expand its presence in the region. Rising crude prices and energy reforms in...
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Exxon’s success off Guyana coast fueled Latin America dominance in 2017

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Latin America dominated the world on the exploration front in 2017 in terms of both discovery numbers and size, mainly due to ExxonMobil’s continuing success offshore Guyana, according to investment research and advisory company, Edison, in its 2018 Exploration...
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Hart Energy: Guyana-Suriname basin shows long-term promise – OTC 2018

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The first rule of puzzle assembly is to start with the edges and work in, flipping pieces this way and that, until the snap of snug fit indicates correct piece placement. When looking at a world map, it is...
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Noble reports net loss for Q1 2018; expects fleet utilization to ramp up

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Noble Corporation, the same company contracted by ExxonMobil to drill 17 wells for the Liza Phase 1 development in Guyana, on Wednesday reported a net loss for the three months ended March 31, 2018 of $142 million, or $0.58 per diluted share, on revenues...
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Positive cash flow from Guyana may not come before 2022 – Hess

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Hess Corporation does not expect oil production in the South American country of Guyana where it has a 30% stake in the Stabroek Block, to turn a profit for the company before 2022 when the larger Liza Phase 2...
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Anadarko posts Q1 2018 profit

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Anadarko Petroleum Corp reported a quarterly profit on Tuesday as higher crude prices helped the oil and gas producer earn more per barrel. The company, which had its vessel seized by Venezuela while conducting a seismic study off the Guyana...
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Petrobras chips away at debt with asset sales

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(Hart Energy) Brazil’s Petrobras intends to raise US$21 billion with the sale of assets by the end of this year, according to its 2018-2022 business plan, as the company works to lower debt while carrying out activities, mainly in...
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Guyana oil spill response plan in line with international guidelines – CDC Director General

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Guyana’s National Oil Spill Contingency Plan has benefited from the input of several notable international organizations and following a series of reviews, the document will be open for public consultations in the South American country. Director General (ag) of the...
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Hess reports Q3 gains with Guyana leading production growth

Hess Corporation revealed a strong third quarter driven by expanded production in Guyana’s offshore Stabroek Block. The company reported...

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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