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With LCDS 2030, Guyana aligns oil sector with global climate ambitions

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Today, Guyana joins the globe in celebrating World Environment Day 2022. This year’s campaign “Only One Earth” calls for collective, transformative action on a global scale to celebrate, protect and restore the planet. For many countries restoring the planet will prove...
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Guyana oil projects moving 2-3 times faster than any other in the world – Hess CEO

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Guyana's offshore Stabroek Block developments have been outstanding performers when it comes to pace and efficiency. Hess Corporation’s Chief Executive Officer (CEO), John Hess said the projects come on two to three times faster than any other global offshore...
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NOC partner must have deep pockets, deepwater experience – Guyana VP

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As it continues to weigh the pros and cons of having passive ownership in a National Oil Company (NOC), the Guyana Government has said any potential partner it chooses to manage the facility would need to have “deep pockets”...
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Guyana urged to approach accelerated spending of oil money with caution, gov’t says it is ready

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While it has applauded the Guyana Government for its prudent review and amendment of the Natural Resource Fund Legislation, thereby making it more effective and transparent, the International Monetary Fund (IMF) has urged local authorities to be mindful of...
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As oil production surges, IMF says Guyana making progress in strengthening anti-corruption framework

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History has shown that many oil-producing states often see an increase in corruption with the onset of oil and gas production. Angola, Nigeria, and Uganda are examples of this. In light of this risk, the International Monetary Fund (IMF)...
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IMF backs Guyana’s Gas-to-Energy Project

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The International Monetary Fund (IMF) has thrown its support behind Guyana’s plans to bring down electricity costs, which include the implementation of the transformative gas-to-energy project. The initiative will see the construction and operation of a pipeline from the Liza...
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Guyana will set aside 15% of earnings from forest conservation for its Indigenous people

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Vice President Dr. Bharrat Jagdeo said during a recent press conference that Guyana’s expanded Low Carbon Development Strategy (LCDS) 2030 will set aside 15% of all funds earned through the conservation of its lush forests, to be used for the advancement...
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Trinidad’s deepwater auction: 13 of 17 blocks receive no bids

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Trinidad and Tobago’s deepwater auction concluded on the final day of the Trinidad and Tobago Energy Conference, Thursday. Companies showed little interest, submitting bids for just four of 17 blocks. Information received from the Energy Chamber of Trinidad and Tobago indicates...
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Leading by example, ExxonMobil’s local content centre now ISO 9001 certified

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The Centre for Local Business Development (CLBD) has been making strides over the years to grow with Guyana's nascent oil and gas sector and now, the Centre has been ISO 9001:2015 certified. The Centre's journey to ISO 9001 began back...
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IMF says oil production ramp up makes Guyana’s prospects more favourable than ever before

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The International Monetary Fund (IMF) noted on Friday that Guyana’s medium-term prospects are “more favorable than ever before,” given its increasing oil production and the fact that it holds the potential to greatly transform the nation’s economy. This was specifically...
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Chinese oil and gas giant CNOOC eyes greater role in Trinidad and Tobago’s energy sector

Executives from China National Offshore Oil Corporation (CNOOC) this week met with Trinidad and Tobago’s Ministry of Energy and...

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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