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Venezuelan oil output heads to 29-year low as cash crunch grows

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(Bloomberg) -- Venezuela is set to pump the least oil in almost three decades, just when it needs petrodollars the most. Output is expected to slump to 1.84 million barrels a day next year, the lowest compared with official government...
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Mangal’s public utterances disingenuous; should tender his advice to President – Persaud

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In wake of a series of comments made to the media during an interview on Wednesday by Advisor to the President on Petroluem, Dr. Jan Mangal, Guyana’s former Minister of Natural Resources, Robert Persaud, has taken issue with what...
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Government must facilitate more informed views on oil – Presidential Advisor

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A number of people in Guyana are suspicious of the country’s emerging oil and gas industry and their elected representatives, says Advisor to the President on Petroleum, Dr. Jan Mangal. He believes that government must do more to facilitate...
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VLCC for Liza Destiny conversion to arrive in Singapore this month

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SBM Offshore expects the Very Large Crude Carrier (VLCC) for ExxonMobil’s Liza project offshore Guyana to sail into Keppel Shipyard in Singapore later this month, for conversion to an FPSO. The program should get under way later this year. The shipyard’s work scope includes refurbishment...
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No sinister motive behind non-disclosure of contract, several details in public domain – Trotman

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Guyana’s Minister of Natural Resources, Raphael Trotman, reiterated on Wednesday, that the Government believes it should not release the full details of the contract between itself and ExxonMobil at this time, but pointed out that enough details are already...
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‘Iwokrama collaboration fits with our core value of science, protecting the environment’ – Exxon

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ExxonMobil Country Manager in Guyana, Rod Henson, says collaborating with Iwokrama International Centre is in keeping with the company’s core value of science and protecting the environment. Henson was at the time speaking to a number of persons gathered on Wednesday evening...
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Presidential advisor believes oil contract should be disclosed, ‘signing bonus’ audited

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Presidential Advisor on Petroleum in Guyana, Dr. Jan Mangal, believes that in the interest of transparency and accountability, all resource agreements, including the petroleum contract between ExxonMobil and the South American country, should be made public. In an interview with...
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Strong production at Jubilee, TEN pushes Tullow’s forecast up

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Tullow Oil plc has upgraded its production forecast for West Africa following strong output at the Jubilee and TEN oil fields. The full year 2017 West Africa net oil production guidance, including production-equivalent insurance payments, has been revised upwards to...
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Exxon injects US$300,000 into Iwokrama science programme

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The Iwokrama International Centre will soon re-launch its Science Programme with support from ExxonMobil by way of a US$300,000 (G$62M) charitable contribution. The initial contribution from ExxonMobil will support the establishment of the Iwokrama Science Committee and commission initial research,...
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Plexus gets green light to sell subsidiary to TechnipFMC

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Plexus Holdings PLC (LON:POS) has confirmed that the proposed sale of a subsidiary business to TechnipFMC will go ahead after shareholders backed the deal. TechnipFMC has been awarded a contract by ExxonMobil for the engineering, manufacture and delivery of the...
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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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