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IMF predicts Guyana oil fund to hit US$11 billion by 2028  

OilNOW -
The International Monetary Fund (IMF) has released its latest report on Guyana's economic outlook, projecting the country's oil revenues to soar to a staggering US$11 billion (GY$2.3 trillion) by 2028. This estimate is derived from royalties and profit oil...
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Atlantic restructuring deal sealed: Energy Chamber applauds achievement

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The Energy Chamber of Trinidad and Tobago welcomed the final signing of the Atlantic restructuring agreement, marking a pivotal moment for the country's gas sector and overall economic landscape. In praising the negotiating teams from bpTT, Shell, the National...
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UN Secretary General updates Security Council on ICJ provisional orders

OilNOW -
United Nations (UN) Secretary General, António Guterres, has transmitted the notice of the provisional measures ordered by the International Court of Justice in the Guyana-Venezuela border controversy, to the UN Security Council. The announcement was made on Wednesday by Stéphane...
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Gil, Todd hold talks on Venezuela’s aggressive actions to enforce referendum

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In a bid to address escalating tensions, Guyana's Minister of Foreign Affairs and International Cooperation, Hugh Todd, engaged in a discussion via telephone today with his Venezuelan counterpart Yvan Gill. The conversation was instigated by Carlos Amador Pérez Silva,...
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Guyana engaging U.S. Southern Command, assures investors of stability as Venezuela crisis intensifies  

Shikema Dey -
In a firm and resolute address to the nation on Tuesday night, Guyana’s President, Dr. Irfaan Ali, vehemently denounced Venezuela's apparent move to enforce a December 3 referendum on Guyana’s Essequibo Region, in blatant disregard of an International Court...
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With six FPSOs onstream, Guyana could be debt-free by 2027 – Vice President Jagdeo

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With Guyana expected to produce over one million barrels of oil per day from six floating, production, storage and offloading (FPSO) vessels by 2027, the country will likely have enough money to clear its debt. This is according to...
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No signs of inflationary pressures, overheating in Guyana’s economy which tripled since oil production began – IMF reports

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The International Monetary Fund's (IMF) 2023 report on Guyana revealed no signs of inflationary pressures or economic overheating despite the substantial influx of oil revenues since 2020. Concerns had lingered about Guyana falling prey to the resource curse. Since the...
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Petrobras serves as “observer” in OPEC+  says CEO, production cuts do not apply 

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Petrobras, Brazil's state-controlled oil company, is set to become an observer in OPEC+ starting January 2024, enabling the country to engage in group discussions without being bound by production quotas, as clarified by  Jean Paul Prates, its Chief Executive...
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TT Opposition Leader tells Maduro; ‘touch one you touch all’

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At the UNC Report in Penal last night, Trinidad and Tobago’s opposition leader Kamla Persad-Bissessar issued a resolute warning to Venezuelan President Nicolas Maduro, cautioning against any interference with the Guyanese people and asserting that such actions would implicate...
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Georgetown Chamber to lead Guyana delegation at OTC 2024

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI), the oldest private sector representative organisation in Guyana, will be the lead body responsible for the country’s participation at the Offshore Technology Conference (OTC) set to take place at the NRG...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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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