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Oil will convert Guyana’s deficit to surplus – IMF

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The International Monetary Fund (IMF) said that Guyana’s external outlook remains favourable and is expected to improve with the start of oil production. The IMF Staff Country Report for Guyana, released on June 28, says the commencement of oil production...
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IDB willing to fund creation of “proper institutions” in Guyana for oil & gas

OilNOW -
The Inter-American Development Bank (IDB) is open to providing technical and financial assistance to Guyana for the creation of institutions needed to support the country’s emerging oil and gas sector. A team of officials from the Extractive Industries Transparency Initiative...
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Report finds offshore recovery still held back by oil price

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(Offshore) Westwood Energy’s updated World Oilfield Equipment Market Forecast projects higher offshore expenditure between now and 2021. The analyst now predicts total investments of $254 billion compared with $224 billion in its previous forecast. It cautions, however, that the market will...
News

Shell, Exxon to appeal latest Groningen gas production cap

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(Reuters) A joint venture between Royal Dutch Shell and Exxon Mobil said on Wednesday it would appeal against a Dutch government plan to lower a production cap at the Groningen natural gas field by a further 10 percent. The Dutch...
News

New helicopter base under construction for Bristow in UK

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Construction has begun on a new HM Coastguard search and rescue (SAR) helicopter base at Lydd Airport in the UK which will be operated by Bristow Helicopters. The £7.8 million project will create a new focal point for the region’s...
News

ExxonMobil, Hess and Statoil farm into Suriname blocks

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Suriname state oil company Staatsolie and the consortium consisting of ExxonMobil, Hess and Statoil have reached an agreement regarding a PSC for Block 59 offshore Suriname. At the same time, an agreement was reached with Statoil for Block 60. The...
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ExxonMobil says it is eager to partner with Guyanese businesses

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ExxonMobil announced today the establishment of the Centre for Local Business Development in Georgetown, Guyana, and signaled its commitment to work with the country’s business community. The centre will assist small and medium-sized Guyanese businesses with building their capacity and...
News

ExxonMobil confirms award of contracts to SBM for Liza project in Guyana

OilNOW -
ExxonMobil has formally confirmed the award of contracts to SBM Offshore for the next phase of the Liza project in Guyana. Under these contracts, SBM Offshore will construct, install, lease and operate a Floating Production, Storage and Offloading Vessel...
Editorial

Guyana: Managing Local Content Expectations

OilNOW -
The need for, and introduction of requirements for local content in Guyana’s emerging oil and gas industry, continues to engage the attention of stakeholders and the public at large. Even as a draft local content policy framework is being...
News

Qatar’s emir meets ExxonMobil’s CEO

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(Reuters) The emir of Qatar met with ExxonMobil Corporation’s Chairman and CEO Darren Woods in Doha on Saturday for talks on "cooperation," state news agency QNA reported, following a rift between four Gulf states and Qatar that has raised...
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Hess reports Q3 gains with Guyana leading production growth

Hess Corporation revealed a strong third quarter driven by expanded production in Guyana’s offshore Stabroek Block. The company reported...

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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