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NIS rakes in over $24M in benefits from Oil and Gas sector in 2018

OilNOW -
Guyana’s largest pension fund and health insurance body; the National Insurance Scheme (NIS), has begun targeting companies registering in the emerging petroleum sector to ensure that employees’ benefits are being paid. At the agency’s 49th Anniversary ceremony on Friday, September...
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Reducing revenue leakage among Energy Dept top priorities

OilNOW -
Among the top priorities for recently appointed Head of the Government’s Energy Department, Dr. Mark Bynoe is “reducing revenue leakage” or the unnoticed or unintended loss of revenue. Dr. Bynoe was appointed to lead the department which was set up...
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Deep-water feeding frenzy in South America as Brazil and Guyana lead enthusiasm

OilNOW -
Good reservoir quality and improved upstream terms have combined with cost declines and firmer oil prices to spark enthusiasm for deep offshore oil exploration in South America. According to a report in the Petroleum Economist, analysts say that while the...
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Exxon adds more than 71,500 net acres to its Brazil portfolio

OilNOW -
ExxonMobil has increased its holdings in Brazil’s pre-salt basins after it won the Titã exploration block with co-venturer Qatar Petroleum during Brazil’s 5th pre-salt bid round. The block awarded added more than 71,500 net acres to the ExxonMobil portfolio, expanding the...
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Hughes, Fields and Stoby targets oil and gas with opening of Houston office

OilNOW -
Guyana’s exciting move into the Oil and Gas sector records another significant step with the historic opening of the law office of Hughes, Fields and Stoby USA PLLC in Houston, Texas. The official launch of its overseas presence took place...
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Mexico’s next president will honor existing oil contracts -official

OilNOW -
(Reuters) - Mexico’s president-elect, Andres Manuel Lopez Obrador, assured private energy executives in a closed-door meeting on Thursday their contracts will not be canceled if they meet existing terms, the head of the country’s main oil producers’ association said. Lopez...
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‘We must put up a good fight to cash in on O&G opportunities’ – Guyana Business Minister

OilNOW -
Guyana’s Minister of Business, Dominic Gaskin, said if the country wants to maximize the full value of local content from the oil and gas sector then it needs to build local capacity. The Minister was at the time delivering an...
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“We have to take energy seriously” – Guyana President tells residents in remote border village

OilNOW -
Villagers in the remote Rupununi - an area located in the south-west of Guyana bordering the Brazilian Amazon - are being urged to harness the power of the sun to push economic diversity. The charge was given by President...
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Brazil’s Petrobras to pay $853.2 million in penalties

OilNOW -
(AP) — Brazil's state oil company Petrobras said Thursday it had agreed to pay more than $850 million in penalties for bookkeeping violations related to bribes to Brazilian politicians and political parties. Petrobras said in a securities filing that the...
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CNOOC considering selling US oil assets as Guyana discoveries redefine company’s perspective

OilNOW -
China’s CNOOC which owns a 25 percent interest in the Stabroek Block offshore Guyana is considering selling parts of its U.S. oil assets in the Gulf of Mexico, Reuters reported a company spokesperson as saying on Thursday.  The spokesperson...
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Europe took all of Guyana’s Golden Arrowhead oil cargoes lifted in September

Europe received all four cargoes of Golden Arrowhead crude oil lifted from ExxonMobil’s Yellowtail project in September, according to...

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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