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Laid-off sugar workers finding hope in Guyana’s petroleum industry

OilNOW -
Several sugar workers who lost their jobs when estates began closing in Guyana last year have now been given a second chance at acquiring new skills and gaining employment in the oil and gas industry through the operations of...
Exploration

Schlumberger CEO warns of tightening oil market

OilNOW -
The head of the world’s largest oilfield service company warned of growing global supply challenges in the coming year as Venezuelan production falls and Nigerian and Libyan output reach capacity amid lingering fears of possible sanctions against Iran, Hart...
News

Curtain drawn back on the energy giant that makes more profit than all of Big Oil combined

OilNOW -
For the first time in 40 years Saudi Aramco numbers have been revealed — and they are huge — in fact the world’s biggest For four decades the financial performance of Saudi Aramco has been one of the biggest secrets...
News

Ranger and Pacora discoveries among 6 CNOOC made for Q1 2018

OilNOW -
CNOOC Limited achieved total net production of 120.1 million barrels of oil equivalent for the first quarter of 2018, representing an increase of 0.8% year over year. According to a statement from the company, production from offshore China decreased...
News

Despite chaos oil major Total says it will not leave Venezuela

OilNOW -
French oil major Total S.A. says despite declining production and immense hardships it will remain in Venezuela. The South American oil producing nation has tumbled into an economic and social crisis, with millions suffering food and medicine shortages. Since last...
News

Int’l experts say frontier countries offer ‘favourable fiscal terms’ to secure oil deals

OilNOW -
It is not uncommon for countries with little or no proven oil reserves to offer prospective investors favourable fiscal terms in an effort to kick-start their petroleum ambitions says the International Monetary Fund (IMF), Norway-based industry analyst, Rystad Energy...
News

Sovereign Wealth Fund critical to Guyana benefiting from billions in oil revenue – Commonwealth

OilNOW -
The small South American country of Guyana is on the verge of receiving big money when oil from the giant Liza field begins flowing in less than two years. However, the extent to which this newfound wealth benefits the...
News

Venezuela arrests two Chevron executives amid oil purge

OilNOW -
(Reuters) - Chevron Corp (CVX.N) said on Tuesday two of its executives were arrested in Venezuela, a rare move likely to spook foreign energy firms still operating in the OPEC nation stricken by hyperinflation, shortages and crime. Venezuelan Sebin intelligence...
News

Guyana to take IMF’s recommendation on petroleum taxation on board

OilNOW -
Guyana will be taking on board some of the recommendations made by the International Monetary Fund (IMF) recently with regards the modernizing of its petroleum fiscal regime, taxation structure and Production Sharing Agreements (PSAs). The International Financial Institution, in 2017,...
News

Time will tell how successful Guyana policy framework for O&G is, Jamaica must prepare says former PM

OilNOW -
Former Prime Minister of Jamaica, Bruce Golding says a number of examples in the region point to mistakes that can be made by oil producing nations and while time will tell how successful Guyana is in avoiding pitfalls, Jamaica,...
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Exxon not backing out of Block S8 talks – Jagdeo 

ExxonMobil, Hess and CNOOC are not backing out of talks with the Guyana government for a shallow water block...

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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