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Cabinet approved receipt of signing bonus, Foreign Affairs advised on special account – Greenidge

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The Guyana Government continues to defend its handling of the negotiation and receipt of a US$18M ‘signing bonus’ from US Oil Major, ExxonMobil, this time placing its position on record in the National Assembly, saying too the ‘clandestine’ deposit...
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US$18M ‘signing bonus’ will eventually be placed in Consolidated Fund – Finance Minister

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Guyana’s Finance Minister Winston Jordan says CGX Energy must be commended if they did indeed pay US$10M in legal fees on behalf of Guyana several years ago stemming from a maritime dispute with Suriname. Mr. Jordan said unlike that...
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DDL partners with T&T distributor for ‘natural gas pilot’

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Trinidad and Tobago based ICON LNG Holdings Ltd. and local beverage giant Demerara Distillers Limited (DDL) on Wednesday formally launched their pilot project in Guyana, substituting in part, conventional fuels for cleaner Liquefied Natural Gas (LNG) for power generation. Held...
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Non-disclosure of signing bonus not intended to deceive says Guyana President

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Guyana’s President David Granger told reporters on Wednesday that as Head-of-State he made the decision not to disclose the payment of a US$18M signing bonus received from ExxonMobil affiliate; Esso Exploration and Production Guyana Ltd (ESSO). Mr. Granger said setting...
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Guyana perception of corruption score “unacceptably low” – British High Commissioner

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Guyana continues to record unacceptably low scores in the annual Transparency International (TI) Corruption Perceptions Index, a state of affairs that Government, in cooperation with the private sector, must collaborate to address, urges the UK’s chief diplomat in the...
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Fmr Guyana President says CGX Energy did not pay ‘signing bonus’

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Former Guyana President, Bharrat Jagdeo, has denied that Canadian Oil Exploration Company CGX Energy paid a ‘signing bonus’ to the then administration - monies that were used to pay legal fees for the Guyana/Suriname border dispute some years ago. The...
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Shell, Repsol among big names pursuing natural gas production in Bolivia

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(Hart Energy) Bolivia’s gas industry could begin 2018 on a positive note, following years of low exploration investment that shrank gas reserves as production increased amid less demand from its top customer Brazil. The country is working to boost investment...
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Guyana legislators approve US$5.3M natural resources work programme

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Guyana’s legislators on Tuesday approved - unchallenged in the National Assembly - the Ministry of Natural Resources US$5.3M (G$1.1B) 2018 work programme of which US$145,000 (G$30M) has been allocated for oil gas related activities next year. Included in the allocations...
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Finance Minister says no rules broken with special account for signing bonus

OilNOW -
Guyana’s Minister of Finance, Winston Jordan, has defended the deposit of an US$18M ‘signing bonus’ into a special account at the Bank of Guyana, as ‘standard practice,’ saying “we are not breaking any rule.” Mr. Jordan defended the transaction in...
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Multi-sector stakeholder group to steer Guyana O&G sector

OilNOW -
The Guyana Government has embarked on the establishment of a multi-sector stakeholder committee for the oil and gas sector which it hopes will comprise members of civil society and the parliamentary parties. The announcement came as Minister with responsibility for...
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Fiscal terms in Guyana, Namibia, Angola ‘striking the right balance’ – WoodMac

Global provider of data and analytics, Wood Mackenzie, said host governments, such as those in Guyana, Namibia, and Angola,...

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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