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Oil kicks off 2022 on high note

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(Reuters) - Oil prices firmed on Monday as the market kicked off 2022 on a positive note with suppliers in focus ahead of Tuesday's OPEC+ meeting, although surging COVID-19 cases continued to dent demand sentiment. Brent crude added 56 cents,...
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Stabroek Block co-venturer earns climate change leadership status for 13 consecutive years

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Hess Corporation which holds a 30 percent interest in Guyana’s prolific Stabroek Block, has been recognized for its climate change stewardship in CDP’s Climate Change Scores for 2021. Significantly, Hess has maintained Leadership status for 13 consecutive years from...
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Exploration drilling at Kawa-1 will continue this month, could wrap up early February

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Guyana’s Maritime Administration Department (MARAD) said in a notice dated December 31, 2021, that CGX Energy will continue exploration drilling at the Kawa-1 prospect this month. “This operation is scheduled to conclude on February 05, 2022,” MARAD said. Kawa-1 is located...
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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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French firm gets five-year tech support contract from ExxonMobil Guyana

French geophysical technology company Sercel announced on Tuesday that it has been awarded a five-year contract for technical support...

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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