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Oil workers sue Shell over Gulf of Mexico platform fire

OilNOW -
(Reuters) Three offshore oil workers filed a lawsuit against units of Royal Dutch Shell and Enbridge, seeking $1 million in damages for injuries they allegedly received during a Nov. 8 fire on a U.S. Gulf of Mexico production platform. The...
News

Japan’s MODEC to supply FPSO for Libra consortium in Brazil

OilNOW -
Japan’s MODEC, Inc. said on Tuesday it has signed a contract for supply, charter, and operations of a Floating Production Storage and Offloading (FPSO) vessel with Petróleo Brasileiro S.A. (Petrobras) as Leader and Operator of the Libra Consortium on...
News

CGX renegotiates work programme for oil blocks in Guyana

OilNOW -
CGX Energy Inc. said Monday it has successfully renegotiated its work commitments for the Demerara, Corentyne and Berbice Petroleum Prospecting Licenses with the Government of Guyana. As part of the renegotiation, the Company has also agreed to relinquish 25% of...
News

Brazil’s Temer relaxes stringent local content requirements

OilNOW -
The Government of the Federation of Brazil has yielded to demands for higher minimum percentages as they edge closer to an industry-wide local content policy. Brazil in recent years has become known for its stringent local content requirements; some of...
News

The World Bank won’t back oil and gas – what now?

OilNOW -
(Chatham House) At the One Planet Summit in Paris last week, the World Bank Group announced that, from 2019, it will no longer finance upstream oil and gas. This reflects the Bank’s decision to realign its development assistance with...
Opinions

Oil agreements: regulatory tools vs. sweet deals

Robert Persaud -
There is the misplaced belief, in some quarters of our society, that ALL licenses and agreements, which have been issued for exploration and production (E&P) of oil and gas, between past and current administrations and the International Oil Companies...
News

ExxonMobil Liza FPSO contractor SBM in $375 m bribery settlement in Brazil

OilNOW -
SBM Offshore, the company contracted by ExxonMobil to convert an oil tanker into a Floating Production, Storage and Offloading facility (FPSO) for the Liza Phase 1 development in the South American country of Guyana, has reached a settlement in...
News

Hedge fund Elliott prepares second challenge to Hess Corp

OilNOW -
(Reuters) - Elliott Management Corp is readying for a new fight with Hess Corp (HES.N) to remedy what the activist hedge fund called on Thursday “continuing underperformance” by the U.S. oil and gas producer. This would be the second time...
News

Guyana waives import taxes to set up ‘natural gas’ refilling stations

OilNOW -
The Guyana Government in its push to prepare for an Oil and Gas sector has, as part of its incentive regime for the private sector, waived all Customs duties for machinery and equipment imported to set up refilling stations...
News

Canadian support for private sector to tap into O&G opportunities

OilNOW -
Head of the Canadian Diplomatic Mission to Guyana has pledged further support from that country to the local private sector in order to fully realise the market opportunities presented by the South American nation’s emerging Oil and Gas sector. The...
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Latest News

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Staatsolie approves commercial field for Sloanea-1 gas discovery in Suriname’s Block 52

Staatsolie Maatschappij Suriname N.V. has approved the Commercial Field for the Sloanea-1 gas discovery in Block 52 offshore Suriname....

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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