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The World Bank won’t back oil and gas – what now?

OilNOW -
(Chatham House) At the One Planet Summit in Paris last week, the World Bank Group announced that, from 2019, it will no longer finance upstream oil and gas. This reflects the Bank’s decision to realign its development assistance with...
Opinions

Oil agreements: regulatory tools vs. sweet deals

Robert Persaud -
There is the misplaced belief, in some quarters of our society, that ALL licenses and agreements, which have been issued for exploration and production (E&P) of oil and gas, between past and current administrations and the International Oil Companies...
News

ExxonMobil Liza FPSO contractor SBM in $375 m bribery settlement in Brazil

OilNOW -
SBM Offshore, the company contracted by ExxonMobil to convert an oil tanker into a Floating Production, Storage and Offloading facility (FPSO) for the Liza Phase 1 development in the South American country of Guyana, has reached a settlement in...
News

Hedge fund Elliott prepares second challenge to Hess Corp

OilNOW -
(Reuters) - Elliott Management Corp is readying for a new fight with Hess Corp (HES.N) to remedy what the activist hedge fund called on Thursday “continuing underperformance” by the U.S. oil and gas producer. This would be the second time...
News

Guyana waives import taxes to set up ‘natural gas’ refilling stations

OilNOW -
The Guyana Government in its push to prepare for an Oil and Gas sector has, as part of its incentive regime for the private sector, waived all Customs duties for machinery and equipment imported to set up refilling stations...
News

Canadian support for private sector to tap into O&G opportunities

OilNOW -
Head of the Canadian Diplomatic Mission to Guyana has pledged further support from that country to the local private sector in order to fully realise the market opportunities presented by the South American nation’s emerging Oil and Gas sector. The...
News

House Speaker rejects motion over ‘signing bonus’

OilNOW -
Guyana’s political opposition, the Peoples Progressive Party Civic (PPP/C) on Friday unsuccessfully brought to the National Assembly; a motion looking to compel the government to have reflected in the State’s National Estimates as revenue, the US$18M ‘signing bonus’ it...
News

Guyana President says gov’t will comply with any court ruling on signing bonus account

OilNOW -
Guyana’s Head-of-State, President David Granger says his government will comply with any court ruling or legal advice stipulating that the US$18M signing bonus received from ExxonMobil affiliate Esso Exploration and Production Guyana Limited be placed in the Consolidated Fund. The...
News

Guyana SWF draft Bill ready for Executive approval ahead of legislators vote

OilNOW -
Guyana’s government is one step closer to establishing its Sovereign Wealth Fund - meant to serve as a holding deposit for a percentage of oil and other extractive industries’ revenues for future generations - having completed its final review...
News

Oil and gas supply disruptions ripple around the world

OilNOW -
(The Economist) Call it the hydrocarbon equivalent of the butterfly effect. As oil and gas supplies tighten during the northern winter, disruptions as remote as a hairline fracture on a piece of Scottish pipeline, and an explosion in an...
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Trinidad commences 12-18 months of wind power assessment

Trinidad and Tobago's Ministry of Energy and Energy Industries (MEEI) has announced the successful deployment of Light Detection and...

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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