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CGX contract outlines 53% profit oil, 1% royalty for Guyana

OilNOW -
The petroleum agreement between the Government of Guyana and Canadian-based CGX Resources Inc. (CGX Energy) stipulates 53 percent profit oil and 1 percent royalty for the South American country in the event the company makes a discovery and moves...
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Guyana President downplays ‘renegotiation’ of ExxonMobil contract

OilNOW -
Guyana’s Head of State, President David Granger has downplayed the notion of renegotiating the Production Sharing Agreement between the South American country and ExxonMobil affiliate - Esso Exploration and Production Guyana Limited. Speaking to members of the media on Wednesday...
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Maduro claims Venezuela lifted oil production by 250,000 Bpd

OilNOW -
(OilPrice) While analyst estimates and official figures show that Venezuela’s crude oil production continues to plummet amid a severe economic crisis and cash crunch, Venezuelan President Nicolas Maduro—true to his rhetoric--said on Thursday that the country’s oil production had increased...
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Largest oil and gas lease sale in U.S. history set for March

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The U.S. Department of the Interior will offer 77.3 million acres offshore of Texas, Louisiana, Mississippi, Alabama and Florida for oil and gas exploration and development. This will be the largest such lease sale in the country's history. It will...
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Guyana oil will fuel global economic growth – ExxonMobil VP

OilNOW -
The emerging oil and gas industry in Guyana, where ExxonMobil has to date discovered an estimated 3.2 billion recoverable oil-equivalent barrels, will not only fuel economic growth in the South American country, but across the world. This is according...
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Noble Energy divesting Gulf of Mexico assets for $710 million

OilNOW -
Noble Energy, Inc. (NYSE: NBL) announced on Thursday that a $750 million share repurchase program has been authorized by its Board.  In addition, the Company has executed an agreement to sell its deepwater Gulf of Mexico assets to Fieldwood Energy LLC ("Fieldwood") for a total value of $710...
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Guyana must avoid borrowing on projected oil revenue – Fmr T&T Energy Minister

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Former Minister of Energy and Energy Affairs in Trinidad and Tobago, Kevin Ramnarine, believes Guyana would do well to guard against any borrowing on its projected income from oil since these revenues are merely estimates, being made in an...
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GTT CEO tells investors Guyana is the place to do business

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Guyana’s push for improved telecommunications infrastructure and e-governance connectivity along with its secure geopolitical environment and stable currency rate make it an ideal investment destination. This is according to Justin Nedd, Chief Executive Officer (CEO) of the American owned...
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Shell, SBM Offshore win OTC Distinguished Achievement Award for Stones Field

OilNOW -
(Oil and Gas Facilities) Shell and SBM Offshore will be presented with the OTC Distinguished Achievement Award in recognition of the successful development of the world’s deepest oil and gas project; the Gulf of Mexico Stones field, using the Turritella FPSO....
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Broad representation of companies at GIPEX 2018 impressive – Alison Redford

OilNOW -
The participation of more than 200 companies and 600 delegates at the just concluded Guyana Petroleum Exhibition and Summit (GIPEX) has been described as “impressive” by former Alberta Premier, Alison Redford. Speaking to OilNOW on the sidelines of GIPEX 2018,...
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Ali names 25-member cabinet; Vickram Bharrat back at oil ministry

President Irfaan Ali of Guyana unveiled 25 ministerial Cabinet appointees on Saturday evening, as the government embarks on its...

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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