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The type of crude affects the price

OilNOW -
Crude oils have various attributes that make them more or less attractive to refiners. West Texas Intermediate (WTI), the U.S. marker crude traded at Cushing Oklahoma, for example, is quite different than Western Canadian Select (WCS) produced and traded...
News

Trinidad squandered US$77B in oil revenue between 1999 & 2016 – TT Economist

OilNOW -
A Trinidadian Economist is urging Guyana not to make the same mistakes the twin island republic has made in the management of revenue generated from petroleum production, and the neglect of other sectors of the economy. Dr. Roger Hosein, an...
Featured

Texas visit was part of ongoing dialogue between ExxonMobil & Guyana

OilNOW -
The recent visit to ExxonMobil’s Houston, Texas campus by a team of Guyanese officials was part of ongoing dialogue, project updates and capacity building related to offshore deep-water activities being undertaken by the US super-major in the South American country. OilNOW...
Regional

Maersk agrees to sell oil unit to Total in $7.45 bln deal

OilNOW -
(Reuters) Total is buying Maersk Oil in a $7.45 billion deal which the French oil major said would boost its earnings and cash flow, and bolster its dividend prospects. Danish company A.P. Moller-Maersk is selling its Maersk Oil division to Total to focus...
News

“Stop doing things piecemeal”- vision urgently needed for oil revenue – Dr. Adams

OilNOW -
The absence of a well-articulated vision that outlines how oil revenue will be spent to transform Guyana and improve the living standards of its small population of 750,000 is a matter that needs urgent attention. This is the view...
News

Shell Nigeria sounds alarm over potential oil spill, fire outbreak

OilNOW -
Shell Petroleum Development Company (SPDC) said on Sunday it was “deeply concerned” that unauthorized persons (including women and children) have been observed in close proximity to equipment at its Belema Flow Station and Gas Plant, and nearby communities, at...
News

GCCI looking to play key role in helping ExxonMobil business centre push local content

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI) is looking to work closely with ExxonMobil’s Centre for Local Business Development (CLBD) in Guyana, as part of its push to build capacity across the private sector for the oil and...
News

Setting up strong framework, learning from successes can put Guyana on right path

OilNOW -
Among the options Guyana should consider in preparation for its emerging oil and gas industry is the development of prescriptive and outcome-based frameworks, which, according to a consultant on regulation and standards in the industry, will outline clearly how...
Exploration

Noble will begin Liza campaign in 2018 – ExxonMobil Guyana

OilNOW -
ExxonMobil Guyana has confirmed that Noble Corporation has been contracted by the US super-major for an offshore campaign in the Stabroek Block, located 120 miles offshore the South American country. The 2013-built Noble Bob Douglas drillship will commence operations at...
News

Guyana submits application for EITI candidacy

OilNOW -
Guyana officially submitted its candidature application to the International Secretariat of the Extractive Industries Transparency Initiative (EITI) in Oslo, Norway, on Friday. The application was submitted by Minister of Natural Resources, Raphael Trotman, in the presence of members of...
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Guyana continues to defy expectations, says U.S. market intelligence firm

Americas Market Intelligence (AMI) has once again placed Guyana in a category of its own, labeling it as “great”...

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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