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Guyana to establish petroleum cost recovery sub-committee

OilNOW -
As preparation ramps up for oil production in 2020, the Government of Guyana is to establish a cost-recovery sub-committee, according to information reaching OilNOW. While details remain sketchy, it is believed that this sub-committee will be resident within the...
News

Liza Destiny builder Keppel secures $130M in projects

OilNOW -
Keppel Offshore & Marine (Keppel O&M) has bagged projects from repeat customers Petrobras and SOFEC Inc. (SOFEC) with a total value of $130M. According to a press release, the projects were bagged by its two wholly-owned subsidiaries Keppel FELS Brasil...
News

Oil workers sue Shell over Gulf of Mexico platform fire

OilNOW -
(Reuters) Three offshore oil workers filed a lawsuit against units of Royal Dutch Shell and Enbridge, seeking $1 million in damages for injuries they allegedly received during a Nov. 8 fire on a U.S. Gulf of Mexico production platform. The...
News

Japan’s MODEC to supply FPSO for Libra consortium in Brazil

OilNOW -
Japan’s MODEC, Inc. said on Tuesday it has signed a contract for supply, charter, and operations of a Floating Production Storage and Offloading (FPSO) vessel with Petróleo Brasileiro S.A. (Petrobras) as Leader and Operator of the Libra Consortium on...
News

CGX renegotiates work programme for oil blocks in Guyana

OilNOW -
CGX Energy Inc. said Monday it has successfully renegotiated its work commitments for the Demerara, Corentyne and Berbice Petroleum Prospecting Licenses with the Government of Guyana. As part of the renegotiation, the Company has also agreed to relinquish 25% of...
News

Brazil’s Temer relaxes stringent local content requirements

OilNOW -
The Government of the Federation of Brazil has yielded to demands for higher minimum percentages as they edge closer to an industry-wide local content policy. Brazil in recent years has become known for its stringent local content requirements; some of...
News

The World Bank won’t back oil and gas – what now?

OilNOW -
(Chatham House) At the One Planet Summit in Paris last week, the World Bank Group announced that, from 2019, it will no longer finance upstream oil and gas. This reflects the Bank’s decision to realign its development assistance with...
Opinions

Oil agreements: regulatory tools vs. sweet deals

Robert Persaud -
There is the misplaced belief, in some quarters of our society, that ALL licenses and agreements, which have been issued for exploration and production (E&P) of oil and gas, between past and current administrations and the International Oil Companies...
News

ExxonMobil Liza FPSO contractor SBM in $375 m bribery settlement in Brazil

OilNOW -
SBM Offshore, the company contracted by ExxonMobil to convert an oil tanker into a Floating Production, Storage and Offloading facility (FPSO) for the Liza Phase 1 development in the South American country of Guyana, has reached a settlement in...
News

Hedge fund Elliott prepares second challenge to Hess Corp

OilNOW -
(Reuters) - Elliott Management Corp is readying for a new fight with Hess Corp (HES.N) to remedy what the activist hedge fund called on Thursday “continuing underperformance” by the U.S. oil and gas producer. This would be the second time...
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Latest News

NewsKemol King -

Guyana to engage U.S. partners on tariffs as gold, oil exports remain exempt

If Guyana has its way in talks with the United States, recently announced tariffs on Guyanese exports would be...

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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