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Oil money will go towards savings, infrastructure and social programmes – Trotman

OilNOW -
A percentage of revenue from oil production in Guyana will go towards savings via the Sovereign Wealth Fund (SWF) and investments will be made in a raft of social and infrastructural programmes which the country’s government believes will help...
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Bank account for every baby, free education and better infrastructure; Guyanese vision for oil money mixed

OilNOW -
UPDATE: This report was first published on September 23, 2017. Oil production in Guyana started on December 20, 2019 at the Liza Phase 1 Development. As preparation for oil production in Guyana continues, the view of the population regarding what...
News

Newly trained Guyanese urge countrymen to acquire skills in oil & gas

OilNOW -
Fourteen Guyanese departed the South American country for neighboring Trinidad and Tobago in August for what has been a life-changing experience developing skills and expertise for work in the oil and gas industry. Hands-on exposure to the marine work environment...
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Guyana set to earn close to 1 million US dollars per day from profit oil, royalties

OilNOW -
At the current market price for oil, which hovers around US$50 per barrel, Guyana will earn around 855,000 US dollars from the first day of oil production, set to begin in 2020. This tabulation is based on a 120,000...
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Head of Exxon briefs Guyana President on first oil preparations

OilNOW -
President of ExxonMobil Corporation, Stephen Greenlee says the company is pleased with its level of investment in Guyana and its working relationship with the South American country’s Government. Greenlee met with Guyana’s President David Granger in New York on the sidelines of...
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Belize halts oil purchases from Venezuela’s PDVSA

OilNOW -
Belize Energy Limited (Apbel) will not purchase any oil derived product within Petrocaribe’s framework. The company made this announcement on September 17, after alleging the escalation of issues from PDVSA due to a breach of contract. “We are indeed very...
News

Caribbean oil terminals make preparations ahead of Hurricane Maria

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(Reuters) - Several Caribbean oil storage terminals that temporarily closed ahead of Hurricane Irma earlier this month have started making preparations in case they have to shut again due to Hurricane Maria, which was a rare Category 5 storm...
News

Business summit slated or September 25-26 to focus on transformation of economy

OilNOW -
The Caribbean-Central American Action (CCAA) and the Inter-American Development Bank (IDB) will be hosting a business summit in Guyana in collaboration with a number of stakeholders, slated for September 25 and 26. The event; The Transformational Economy: Perspectives and Opportunities...
News

Global energy consumption to increase by 28% – EIA

OilNOW -
World energy consumption is projected to increase by 28% between 2015 and 2040 according to the US Energy Information Administration. In figures published last week, EIA said coal demand will remain flat, and renewable energy will be the world’s...
News

16 more Guyanese undergo training for offshore jobs

OilNOW -
Sixteen more Guyanese are undergoing training for job opportunities offshore, this time as part of the Edison Chouest supply vessel fleet. Manpower provider, El Dorado Offshore in collaboration with Ramps Logistics of Trinidad & Tobago, has been playing an integral...
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Stories Beyond the BarrelShikema Dey -

Zero experience, full determination: Dakarai Griffith’s journey

The world of machinery, hydraulics, and offshore operations wasn’t part of Dakarai Griffith’s plan. His early days were spent...

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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