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Oil production key in catapulting Ghana to one of world’s fastest growing economies

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While seen as a curse by some, oil production and its spin-off effects can positively impact developing countries and change their fortunes for the better. The New York Times in a March 10 report stated that as recently as the...
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US Ambassador wealth fund comments “misinformed” – Finance Ministry

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Guyana’s Ministry of Finance describes as “misinformed” some of the views expressed in an Op-Ed written by US Ambassador to the South American country, Perry Holloway, which called for prioritization of a Sovereign Wealth Fund (SWF). In a statement on...
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Oil revenue will fuel construction boom – Business Minister

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Massive cash injection from oil production is expected to have a multiplier effect on the Guyana economy that will fuel a construction boom and trigger growth in a number of other sectors. This is the view of Guyana’s Business...
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Statoil to change name to Equinor to reflect broad energy push

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(Reuters) - Norway’s Statoil said on Thursday it would change its name to Equinor, saying this would reflect its commitment to be a broad energy company rather than one just focused on oil. In a video posted on social media,...
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Tillerson has 180 million reasons not to return to oil industry

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(Bloomberg) -- It isn’t clear where Rex Tillerson goes from here, but he has 180 million reasons to avoid the oil industry. The freshly ousted Secretary of State’s exit package from former employer Exxon Mobil Corp. stipulates that if Tillerson returns to...
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Urgency of Sovereign Wealth Fund cannot be understated – US Ambassador

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United States Ambassador to Guyana Perry Holloway says the establishment of a revenue and investment framework that effectively manages the expected windfall from oil production is of vital importance if the South American country is to be truly transformed. Writing...
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Ecuador seeks $800M investment in oil & gas bid

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(Reuters) - Ecuador on Tuesday launched a bidding round for foreign companies to develop oil and gas reserves, hoping to attract some $800 million in investment to boost production in the Andean nation’s sluggish economy. Winners will operate four oil...
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Noble crew member wants fellow Guyanese to get on board

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A Guyanese crew member working on the Noble Bob Douglas drillship that will soon depart the Gulf of Mexico to begin development of the Liza oil field in the South American nation is calling on his countrymen to get...
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Hess planning ‘investor day’ for Guyana oil bonanza

OilNOW -
Hess Corporation continues to be encouraged by positive results coming out of Guyana where, in partnership with CNOOC Nexen and the operator - ExxonMobil - 3.2 billion recoverable barrels of oil have been confirmed from 5 out of a...
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Hess moves to buy back US$1B in shares as Guyana gets “bigger, better”

OilNOW -
Hess Corporation said on Thursday that its Board of Directors has authorized the purchase of $1.0 billion of Hess common stock by the end of 2018. The newly authorized program is in addition to the $500 million share repurchase program Hess announced in late...
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Why Guyana and others won’t stop exploring for oil – GEOExpro expert explains 

“Why would we still explore for oil and gas?” René Jonk of ACT GEO asked at the end 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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