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Become “oil smart” urges US Ambassador

OilNOW -
US Ambassador to Guyana, Perry Holloway, is calling on all Guyanese to become oil smart. The Ambassador's call came just days before yet another discovery was announced by US super-major, ExxonMobil, off the Guyana coast. “This is a tremendously,...
News

ExxonMobil, Guyana officials “excited” about new discovery

OilNOW -
The announcement on Tuesday by ExxonMobil of a new oil discovery at the Payara-2 well has reinforced a widely held belief that significantly more oil than what has so far been detected may lie beneath the Atlantic Ocean offshore...
Discoveries

BREAKING: Exxon discovers more oil at Payara; pushing total to 500 million barrels

OilNOW -
ExxonMobil Corporation today announced it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total Payara discovery to approximately 500 million oil-equivalent barrels. The company said these positive well results increase the estimated gross recoverable resource for...
News

“Government wants to do what is right for the industry” – Trotman

OilNOW -
The Guyana government says it remains committed to doing what is best for the country's emerging oil and gas industry and will continue to pursue measures that allow for transparency in the sector. Speaking at a public meeting of the...
News

EITI requires comprehensive tax, revenue disclosures

OilNOW -
The Extractive Industry Transparency Initiative (EITI) requires that all implementing countries, one of which Guyana hopes to soon become, provide a comprehensive reconciliation of company payments and government revenues from the extractive industries. EITI believes an understanding of company...
News

US Ambassador urges widespread consultations for Guyana’s SWF

OilNOW -
Widespread consultations on the creation of a Sovereign Wealth Fund (SWF) and ensuring that the fund is insulated from political interference are two areas that US Ambassador to Guyana, Perry Holloway, pointed to when creating a fund that works...
News

Guyana Shore Base Inc. aiming for 100% Guyanese workforce

OilNOW -
On Friday Guyana's Minister of Natural Resources, Raphael Trotman and members of the media were given a tour of the Muneshwer onshore facility; Guyana Shore Base Inc. (GYBSI) located at Houston, Georgetown, Guyana. GYBSI is a consortium of companies which...
News

IMF team in Guyana advising on Fiscal Responsibility Framework

OilNOW -
Guyana is continuing to receive support from international organizations in the development of policies to successfully manage the emerging Oil and Gas sector, with the recent assistance coming from the International Monetary Fund. The IMF has been in the South...
News

Guyana will be expected to publicly disclose contracts under EITI requirements

OilNOW -
As Guyana seems well on its way to becoming the 53rd country in the world to attain Extractive Industry Transparency Initiative (EITI) candidacy, a leading adviser supporting this process says implementing countries are now required to do much more in...
News

ExxonMobil sues U.S over Russian deal

OilNOW -
ExxonMobil said Thursday it has launched a legal challenge to a finding by the Treasury Department’s Office of Foreign Assets Control (OFAC) that it violated U.S. sanctions against Russia in 2014 when the company followed authoritative and specific guidance from...
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Tariff threat puts new oil projects at risk – Wood Mackenzie analyst 

Dozens of new upstream oil and gas projects could be delayed if Trump-era tariffs are reintroduced, according to energy...

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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