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Guyana set to earn close to 1 million US dollars per day from profit oil, royalties

OilNOW -
At the current market price for oil, which hovers around US$50 per barrel, Guyana will earn around 855,000 US dollars from the first day of oil production, set to begin in 2020. This tabulation is based on a 120,000...
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Head of Exxon briefs Guyana President on first oil preparations

OilNOW -
President of ExxonMobil Corporation, Stephen Greenlee says the company is pleased with its level of investment in Guyana and its working relationship with the South American country’s Government. Greenlee met with Guyana’s President David Granger in New York on the sidelines of...
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Belize halts oil purchases from Venezuela’s PDVSA

OilNOW -
Belize Energy Limited (Apbel) will not purchase any oil derived product within Petrocaribe’s framework. The company made this announcement on September 17, after alleging the escalation of issues from PDVSA due to a breach of contract. “We are indeed very...
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Caribbean oil terminals make preparations ahead of Hurricane Maria

OilNOW -
(Reuters) - Several Caribbean oil storage terminals that temporarily closed ahead of Hurricane Irma earlier this month have started making preparations in case they have to shut again due to Hurricane Maria, which was a rare Category 5 storm...
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Business summit slated or September 25-26 to focus on transformation of economy

OilNOW -
The Caribbean-Central American Action (CCAA) and the Inter-American Development Bank (IDB) will be hosting a business summit in Guyana in collaboration with a number of stakeholders, slated for September 25 and 26. The event; The Transformational Economy: Perspectives and Opportunities...
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Global energy consumption to increase by 28% – EIA

OilNOW -
World energy consumption is projected to increase by 28% between 2015 and 2040 according to the US Energy Information Administration. In figures published last week, EIA said coal demand will remain flat, and renewable energy will be the world’s...
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16 more Guyanese undergo training for offshore jobs

OilNOW -
Sixteen more Guyanese are undergoing training for job opportunities offshore, this time as part of the Edison Chouest supply vessel fleet. Manpower provider, El Dorado Offshore in collaboration with Ramps Logistics of Trinidad & Tobago, has been playing an integral...
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Tullow says not much opportunity for local content in exploration phase

OilNOW -
Country Representative of Tullow Oil in Guyana, Joachim Vogt, says not much opportunity exist for local content in the exploration phase of offshore operations. Vogt was at the time responding to a question from OilNOW about the likelihood of Guyanese...
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Suggesting all blocks for petroleum exploration were issued is ‘dangerously wrong’ – Ram

OilNOW -
Guyanese Attorney-at-Law and Chartered Accountant, Christopher Ram, says the suggestion that all of the blocks for petroleum exploration and production were given out prior to 2015 is dangerously wrong, since the available information contradicts this. Speaking at a public forum on Friday...
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Guyanese make up 70% of Exxon direct workforce – Country Manager

OilNOW -
Around 70 percent of ExxonMobil’s direct workforce in Guyana is derived from local content, while the entire exploration and production operation consist of 40 to 50 percent Guyanese. This is equivalent to approximately 40 Guyanese being directly employed by the...
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Libra Consortium announces first oil at third FPSO in Brazil pre-salt

Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, announced on Thursday the start of production of...

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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