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‘We will have a SWF long before first oil’ – Trotman

OilNOW -
Minister with responsibility for petroleum in Guyana, Raphael Trotman, has assured that the South American country will have a fully established and functional Sovereign Wealth Fund (SWF) "long before" oil production gets underway in 2020. Mr. Trotman’s remarks come in...
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Reports point to heightened security around energy assets in T&T amid terror concerns

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Warnings about Islamist group ISIS having a local cell in Trinidad and Tobago (TT) has prompted energy companies in the twin island republic to beef up security. London-based Argus Media reported on Monday that government, industry officials and diplomats told...
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Ram invited by gov’t to share views on Petroleum Commission Bill

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A number of individuals including Chartered Accountant and vocal critic in Guyana’s oil and gas sector, Christopher Ram, have been invited by Guyanese authorities to share their views on the Petroleum Commission Bill. This was disclosed by Minister of Natural...
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Trump doesn’t care about Latin America, Lula tells Correa

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Former Brazilian President Luiz Inacio Lula Da Silva says US President, Donald Trump “doesn't care about Latin America in the least” and added that “Bush and Condoleezza Rice pursued a much more democratic policy towards Brazil than Barack Obama...
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Saipem contracts Guyanese company for shorebase services

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Saipem America Incorporated has indicated that it will be contracting a Guyanese company to provide shore-base services for its operations in the Liza Field in the Stabroek Block. The company - a tier one contractor of ExxonMobil Guyana – has been...
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GCCI embraces two-pronged strategy to bolster private sector O&G involvement

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The discovery of oil in Guyana and imminent first oil in 2020 has pushed the Georgetown Chambers of Commerce and Industry (GCCI) to embrace a two-pronged approach to promoting the country’s private sector involvement in and around the oil...
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Guyana to cycle its signing bonus through national coffers

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Guyanese Minister of State, Joseph Harmon has assured stakeholders that funds to be used from the US$18M signing bonus will first be placed in the country’s Consolidated Fund before being disbursed. The US$18 signing bonus paid by US Oil Major...
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No guarantee unprecedented rate of oil discoveries will continue – ExxonMobil Country Manager

OilNOW -
Despite the discovery of more than 3.2 billion barrels of oil off the Guyana coast, the South American country’s offshore basin still remains risky with no guarantee that the unprecedented rate of discoveries – seven to date – will...
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Business Ministry to take lead on development of local content policy framework

OilNOW -
Guyana’s Ministry of Business has been tasked with spearheading the development of the country’s local content policy framework, now slated to be finalized and completed by the end of April. This was disclosed by the South American country’s Minister of...
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Guyanese authorities meet to finalize national oil-spill response plan

OilNOW -
Guyanese authorities today began—through a one day stakeholder workshop—a review of its National Draft Oil Spill Contingency Plan, for finalizing and implementation within the next 24 months, ahead of first-oil in March 2020. Spearheaded by the South American country’s Civil...
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ExxonMobil taps MODEC for second Guyana FPSO as Hammerhead project advances

ExxonMobil has awarded a limited notice to proceed to Japanese offshore engineering firm MODEC for the development of a...

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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