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Private sector to help mobilise financing for mega projects this year, Ali says at historic signing of local content bill

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President of Guyana, Dr. Mohamed Irfaan Ali on Friday assented to the landmark Local Content Bill 2021 at a simple ceremony held at the Office of the President in Georgetown. "It sets the framework for Guyanese to win, and that...
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Exxon looking at up to $1.9B in Q4 operating gains

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According to its latest 8-K filing, Exxon Mobil (NYSE:XOM) expects changes in natural gas prices will raise Q4 earnings by $700M-$1.1B compared with Q2 and changes in liquids prices will lift earnings by $400M-$800M. According to an article published on...
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Ali delivers new year address to nation

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2022 New Year Address to the Nation By His Excellency Mohamed Irfaan Ali, President of the Co-operative Republic of Guyana My People of our One Guyana I speak to you now to wish you all, sincerely, a Happy New Year. I know...
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Arbitrary withdrawal, willy-nilly spending of oil money punishable under the law – Dr. Singh

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Guyana’s Natural Resources Fund (NRF) legislation passed this week in Parliament is part of the country’s broader legal architecture, subject to rules and procedures already in place that govern the handling of public funds. And according to Senior Minister with...
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Georgetown port now sees an average of 52 ships per week, up from 7 – Edghill

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The rapidly expanding oil and gas operations in Guyana continue to fuel significant commercial activities and authorities say the local content legislation passed this week will help to ensure Guyanese cash in big on these growing opportunities. “This bill guarantees...
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Oil edges closer to $80 on expectations fuel demand holds up

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(Reuters) - Oil prices rose slightly on Thursday on expectations that fuel demand held up despite soaring Omicron coronavirus infections and that OPEC and its allies would continue to increase imports only incrementally. Gains eased as the world's top importer...
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Chamber ‘shocked, dismayed’ by chaos in Guyana’s Parliament

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The Georgetown Chamber of Commerce and Industry (GCCI) said on Thursday it was shocked at the behaviour displayed in Guyana’s National Assembly on Wednesday as the government passed major legislation for oil and gas operations in the South American...
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Guyana advances major oil and gas legislation as pandemonium breaks out in Parliament

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Guyana on Wednesday passed major bills in Parliament, soon to be signed into law, that would advance the country’s framework for managing the rapidly expanding oil and gas sector which is set to rake in billions of U.S. dollars...
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Guyana passes landmark local content bill

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Guyana’s long awaited local content legislation will soon be a reality after the landmark Local Content Bill 21 of 2021 was passed today in the National Assembly. The landmark bill paves the way for local companies and citizens to participate...
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Energy Chamber fully supports wealth fund bill, says measures ensure greater accountability

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The Guyana Oil and Gas Energy Chamber (GOGEC) said on Wednesday it is in full support of the Natural Resource Fund Bill 2021 which government hopes to have passed soon in Parliament and signed into law. See GOGEC’s statement below: GOGEC...
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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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