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Incompetence, greed and fear main reasons petro-countries do badly – Anthony Paul

OilNOW -
High levels of incompetence, greed, and the fear of making tough decisions are the primary reasons countries rich in petroleum resources do badly. So says Managing Director, Principal Consultant of Association of Caribbean Energy Specialists Ltd. (ACES), Anthony Paul. Paul,...
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New oil discoveries in Guyana make discussion of local refinery more relevant

OilNOW -
As US oil major ExxonMobil continues to discover more oil off the Guyana coast, discussions about the establishment of a refinery in the South American country will become more relevant. A study conducted in 2017 found that pursuing such...
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Poor local content provisions can lead to corruption, conflict

OilNOW -
A study on local content provisions in developing countries has made a nexus between poorly drafted or implemented local content policies, laws and regulations and the emergence of corruption and conflict resulting in little benefit to the country from...
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Renewable energy among key factors to fuel C/bean climate-smart zone

OilNOW -
A ground-breaking partnership to support the Caribbean’s ambition to become the world’s first ‘climate-smart zone’ was launched on Thursday, August 9, 2018. Eight-time Olympic Gold Medal Winner Usain Bolt was in attendance to help fire the starting pistol for...
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Venezuela facing compounding oil woes

OilNOW -
Though it holds the largest reserves of oil in the world, production levels put it only in the middle of the pack among OPEC member states. Venezuelan plans to stabilize crude oil production do little to address bottlenecks and the...
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SBM Offshore says Liza 2 floater would be its largest capacity FPSO ever to be built

OilNOW -
Dutch floater specialist SBM Offshore is awaiting the Liza 2 development sanction in Guyana so it can deliver its largest ever capacity FPSO for the ExxonMobil-operated project. The Company was awarded the Front End Engineering and Design (FEED) study for...
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‘US dollar’ Natural Resources Fund to be held at Bank of Guyana – Green Paper

OilNOW -
In outlining its proposed plan for managing future petroleum revenues and establishing a fiscal rule and a Sovereign Wealth Fund, the Guyana government through its Ministry of Finance stated in a Green Paper presented to Parliament on Wednesday, how...
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Guyana’s O&G earnings to be invested in “safe and liquid assets”- Finance Minister

OilNOW -
A portion of revenues from Guyana’s oil and gas industry, once placed in the imminent Natural Resource Fund (NRF) will be “invested in safe and liquid assets," the country's government proposes.  Among the investment plans touted by the country’s Finance...
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Finance Ministry to manage Guyana’s wealth fund

OilNOW -
Guyana’s Natural Resource Fund—the South American nation’s Sovereign Wealth Fund for its Oil and Gas (O&G) earnings—will be managed by the Ministry of Finance, headed by Minister Winston Jordan.  The Green Paper for the Natural Resource Fund that was recently...
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CLBD, CTVET team up for O&G training

OilNOW -
ExxonMobil Guyana’s Centre for Local Business Development (CLBD) and the Council for Technical and Vocational Education and Training (CTVET) have collaborated to host a two-day workshop for lecturers and instructors of the Government Technical Institute (GTI) and the Linden Technical...
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Latest News

NewsShikema Dey -

Wales Gas-to-Energy project accelerates with 120 day foundation plan

Guyana’s Gas-to-Energy project at Wales is entering a crucial phase as contractor Lindsayca Guyana pushes to complete all foundation...

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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