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Guyana’s take from oil production larger than Exxon, COVs, royalty not recoverable

OilNOW -
South America’s newest oil producing nation is in the midst of an oil boom which started in 2015 when ExxonMobil discovered the Liza field, the largest deepwater discovery in the world that year. Since that time, the US oil...
Exploration

180 million barrels of oil in place at new Suriname well, APA confirms

OilNOW -
APA Corporation announced Tuesday flow test results from the Krabdagu exploration well (KBD-1) on Block 58 offshore Suriname. APA Suriname holds a 50% working interest in the block, with TotalEnergies (TTE), the operator, also holding a 50% working interest. TotalEnergies...
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Timeline for audit of ExxonMobil’s expenses can be extended if needed – Vice President

OilNOW -
Vice President, Dr. Bharrat Jagdeo has acknowledged that the four-month timeline for the completion of the audit for ExxonMobil Guyana’s post-2018 bills does appear short. Be that as it may, the senior government official assured that the timeline can...
Exploration

Guyana not the only ‘iron in the fire’ for Hess; Suriname, GoM being targeted – CEO

OilNOW -
The oil industry has been hard hit by two unprecedented risk factors—the COVID-19 pandemic and the war in Ukraine. To survive these turbulent times and any other similar risks well into 2040, Hess Corporation believes the key is continued...
News

Lessons for Guyana from T&T: what to embrace and what to avoid?

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By Dr. Graham King - OilNOW Commodity-rich developing countries can suffer terribly from Dutch Disease. Commodity wealth bolsters imports, making them relatively cheaper and more readily accessible to the population. Local products can struggle to compete as labour rates climb...
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Knowing Vice’s reputation, no international investor will believe its claims – Jagdeo

Kemol King -
In his first press conference since the airing of a controversial Vice News feature last Sunday, Vice President Dr. Bharrat Jagdeo said no international investor believes the narrative the publication crafted. “You ask any of the oil companies whether they will take...
News

Gas production more important now than ever; Guyana forging ahead

OilNOW -
Outside of the introduction of a robust Local Content Legislation, Guyana intends to use the Gas-to-Energy project as a means of maximising benefits to the country from the deal it has with ExxonMobil. This was said by Vice President,...
News

Chinese ambassador says Vice News came to Guyana with ‘anti-China agenda’

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Chinese Ambassador to Guyana Guo Haiyan is heavily criticizing US based Vice News for having an anti-China agenda. This follows the release of a documentary by the media outfit, aired a SHOWTIME, alleging Chinese investors and Guyana government officials...
News

Preparing Guyana for next stage of development calls for heavy spending – VP Jagdeo

OilNOW -
The government of Guyana understands its responsibility to ensure that it does not manage the economy in a manner that will cause it to overheat. However, the government is also aware that it is important to prepare the nation...
News

Guyana offered more payments to keep its forests standing

OilNOW -
With exceptional forest cover, boasting more than 19 gigatonnes (Gt) of stored carbon, Guyana is preparing to collect more payments for keeping its forests standing. But this time, the partnership will extend to more than just Norway. Vice President Dr....
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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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