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Guyana President says gov’t will comply with any court ruling on signing bonus account

OilNOW -
Guyana’s Head-of-State, President David Granger says his government will comply with any court ruling or legal advice stipulating that the US$18M signing bonus received from ExxonMobil affiliate Esso Exploration and Production Guyana Limited be placed in the Consolidated Fund. The...
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Guyana SWF draft Bill ready for Executive approval ahead of legislators vote

OilNOW -
Guyana’s government is one step closer to establishing its Sovereign Wealth Fund - meant to serve as a holding deposit for a percentage of oil and other extractive industries’ revenues for future generations - having completed its final review...
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Oil and gas supply disruptions ripple around the world

OilNOW -
(The Economist) Call it the hydrocarbon equivalent of the butterfly effect. As oil and gas supplies tighten during the northern winter, disruptions as remote as a hairline fracture on a piece of Scottish pipeline, and an explosion in an...
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Petrobras, ExxonMobil in strategic alliance

OilNOW -
Petrobras and ExxonMobil today signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities. The memorandum of understanding was signed in Rio de Janeiro today by Pedro Parente, president of Petrobras, Brad Corson, president of...
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Cabinet approved receipt of signing bonus, Foreign Affairs advised on special account – Greenidge

OilNOW -
The Guyana Government continues to defend its handling of the negotiation and receipt of a US$18M ‘signing bonus’ from US Oil Major, ExxonMobil, this time placing its position on record in the National Assembly, saying too the ‘clandestine’ deposit...
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US$18M ‘signing bonus’ will eventually be placed in Consolidated Fund – Finance Minister

OilNOW -
Guyana’s Finance Minister Winston Jordan says CGX Energy must be commended if they did indeed pay US$10M in legal fees on behalf of Guyana several years ago stemming from a maritime dispute with Suriname. Mr. Jordan said unlike that...
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DDL partners with T&T distributor for ‘natural gas pilot’

OilNOW -
Trinidad and Tobago based ICON LNG Holdings Ltd. and local beverage giant Demerara Distillers Limited (DDL) on Wednesday formally launched their pilot project in Guyana, substituting in part, conventional fuels for cleaner Liquefied Natural Gas (LNG) for power generation. Held...
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Non-disclosure of signing bonus not intended to deceive says Guyana President

OilNOW -
Guyana’s President David Granger told reporters on Wednesday that as Head-of-State he made the decision not to disclose the payment of a US$18M signing bonus received from ExxonMobil affiliate; Esso Exploration and Production Guyana Ltd (ESSO). Mr. Granger said setting...
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Guyana perception of corruption score “unacceptably low” – British High Commissioner

OilNOW -
Guyana continues to record unacceptably low scores in the annual Transparency International (TI) Corruption Perceptions Index, a state of affairs that Government, in cooperation with the private sector, must collaborate to address, urges the UK’s chief diplomat in the...
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Fmr Guyana President says CGX Energy did not pay ‘signing bonus’

OilNOW -
Former Guyana President, Bharrat Jagdeo, has denied that Canadian Oil Exploration Company CGX Energy paid a ‘signing bonus’ to the then administration - monies that were used to pay legal fees for the Guyana/Suriname border dispute some years ago. The...
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Guyana and global oil exports marked safe as US market tariffs hit other industries

By Alana Nadir The energy industry was marked safe from sweeping tariffs announced this week by U.S. President Donald...

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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