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Guyana’s windfall from oil production is not fake news – US Ambassador

OilNOW -
United States Ambassador to Guyana Perry Holloway on Tuesday told an oil and gas forum that Guyana is set to receive significant revenue  when oil production begins in 2020 and this “is not fake news.” The US Ambassador vigorously outlined...
News

Guyana moving towards compilation of first EITI report

OilNOW -
An independent administrator will soon be hired, as part of the requirement by the international body of the Guyana Extractive Industries Transparency Initiative (GYEITI), to support the South American country with the compilation of its first report. This was disclosed...
News

Nabi Oil & Gas PSA outlines ‘sliding’ 70% cost recovery pegged on oil price of US$100 per barrel

OilNOW -
The Government of Guyana is to release another Petroleum Agreement shortly; this time for Nabi Oil and Gas Inc., signed in 2012. This is according to sources close to Cabinet. OilNOW understands that the Nabi contract could be released to...
Regional

S/America’s O&G output flat until 2023; Guyana seen as new supply source

OilNOW -
Crude oil and natural gas production in South America is likely to remain fairly flat over the next five years, slightly increasing to roughly 11.7 million barrels of oil-equivalent per day (MMBOE/d) by 2025, Rystad said Tuesday. The lone English speaking...
News

Giant oil trader with no women in top jobs says change must come

OilNOW -
Commodity houses must do more to get women into top jobs, according to Vitol Group, the biggest independent oil trader, and a firm that like others in the industry staffs its leadership committee entirely with men. “We accept that it’s...
News

Gov’t maintained ExxonMobil 600-block acreage for strategic reasons – Trotman

OilNOW -
The new coalition government that came to office in Guyana in 2015 felt it was in the country’s best interest for ExxonMobil – the only company with a willingness at the time to explore in territory threatened by Venezuela...
News

First cohort of TOTALTEC Academy starts oilfield training today

OilNOW -
The new TOTALTEC academy will today commence its Oilfield Operator Training Programme with a first cohort of 24 young Guyanese. TOTALTEC is one of the investors in the Guyana Shore Base Inc., which has been contracted by ExxonMobil Guyana to...
News

36 companies set to bid for blocks in Mexico’s next round

OilNOW -
(Hart Energy) An opportunity to develop and produce oil from the Burgos, Tampico-Misantla-Veracruz and Cuencas del Sureste (Southeast) basins has attracted three dozen companies—including the U.K.’s BP, Capricorn Energy and Premier Oil—to Mexico. Mexico’s National Hydrocarbons Commission (CNH) said 36...
News

Guyana basin still risky for oil companies – Source

OilNOW -
The notion that the Guyana basin has been completely de-risked because of the multiple oil discoveries made by US oil major, ExxonMobil, is misleading says a source. Speaking to OilNOW on condition of anonymity, the source said discoveries by a...
News

“All legal requirements fulfilled in issuing petroleum license” says Guyana gov’t

OilNOW -
The Government of Guyana has once again reiterated its position that all legal requirements were fulfilled in the issuance of petroleum production licenses to all oil exploration companies operating in the South American country. In a public correspondence on Friday,...
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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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