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Stabroek Block royalties not part of cost oil – Guyana tax boss

OilNOW -
Commissioner-General of the Guyana Revenue Authority (GRA), Godfrey Statia said on Saturday that royalties paid by the Stabroek Block consortium are not allowable in the calculation of cost oil. The tax boss explained this in response to “misinformation” in the...
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Economist Michael Porter, Hess helping Guyana modernise services needed for booming oil economy

OilNOW -
Vice President Dr. Bharrat Jagdeo recently clarified that Hess Corporation along with revered United States academic and economist, Michael Porter do not have a hand in crafting Guyana’s national development strategy building on its oil resources; but rather, are...
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Commonwealth reaffirms support for Guyana’s sovereignty in Venezuela border case

OilNOW -
As the curtains of the Commonwealth Summit held in Kigali, Rwanda closed, the Heads of Government present reaffirmed their “firm and unwavering support for the maintenance and preservation of the sovereignty and territorial integrity of Guyana” in the matter...
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Over 4,000 locals now employed in Guyana’s O&G sector – Bharrat

OilNOW -
When Guyana discovered oil in 2015, it had no capacity whatsoever to fulfill the ever-increasing needs of the budding sector, but the country has come a far way. It is now 2022 – seven years on, and the country has...
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As Petrobras divests, Norway-based E&P snatches up deepwater blocks

OilNOW -
Norway’s BW Energy has reached an agreement with Brazil’s state-owned Petrobras to acquire two of its major deepwater clusters – Golfinho and Camarupim – in a deal costing up to US$75 million. The sale is part of Petrobras' strategy to divest assets and focus...
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Company quickly contains small oil spill off Australia coast

OilNOW -
Jadestone Energy – an oil and gas company with operations focused in the Asia-Pacific region – was able to quickly identify and stop a small oil spill in the Montara field offshore Australia. Giving an update on the matter, the...
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Fire Juggling in the Energy Sector: Part 2

OilNOW -
Dr. Lorraine Sobers – OilNOW Last week, we looked at the “fire juggling act” between renewable energy development and natural gas development with a regional outlook. I suggested that Guyana and other Caribbean Community (CARICOM) countries can reduce their low...
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Ramps had threatened Guyana customs regulator with lawsuit over $20M fine

Kemol King -
After being fined GY$20 million for breaching customs law earlier this year, Ramps Logistics had threatened the Guyana Revenue Authority (GRA) with a lawsuit if it did not return the fine. The letter dated March 4, 2022, from its attorney-at-law,...
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Exciting discoveries off Africa result in oil block awards to Shell, APA by Uruguay

OilNOW -
Uruguay announced on Thursday that it awarded three of six oil blocks on its continental shelf, through its state energy company, National Administration of Fuels, Alcohols and Portland (ANCAP). ANCAP said the winning bids for the blocks are Block OFF-2: Shell, which...
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New laws will award permits by default if regulators don’t meet deadlines – Guyana Attorney General

OilNOW -
As it finalises legislation to govern the efficiency of the business environment in Guyana, government is including detailed provisions to prevent corruption and negligence from slowing up permit awards. Attorney General, Mohabir Anil Nandlall said these provisions will allow for...
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Baker Hughes backlog hits record US$32.1 billion as LNG, offshore orders surge

Baker Hughes has reported a record $32.1 billion backlog in the third quarter of 2025, driven by strong orders...

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