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Guyana advances major oil and gas legislation as pandemonium breaks out in Parliament

OilNOW -
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...
News

Guyana passes landmark local content bill

OilNOW -
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...
News

Energy Chamber fully supports wealth fund bill, says measures ensure greater accountability

OilNOW -
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...
News

More time needed for public input on wealth fund bill, says GCCI

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The Georgetown Chamber of Commerce and Industry (GCCI) says while it commends the Guyana government for its effort at attempting to improve public accountability and transparency with respect to the management and operation of the Natural Resources Fund, more...
News

Guyana has earned close to one million U.S. dollars per day in oil revenue

OilNOW -
Twenty-four months have gone by since ExxonMobil began producing oil at the prolific Stabroek Block offshore Guyana. The government has exported approximately nine million barrels of Liza Crude over this period - four in 2020 and five this year...
News

Products from new Suriname seismic campaign to be available from April 2022

OilNOW -
The first products from a multi-client seismic campaign offshore Suriname will be made available from April 2022. The 3D survey which got underway in November is adjacent to the prolific Block 58 and will cover the up-dip portions of...
News

Mexico will stop exporting crude to U.S. by 2023

OilNOW -
(S&P Global Platts) Mexico's Pemex plans to reduce crude oil exports to the US to 435,000 b/d in 2022 and to stop it completely in 2023 as the state-run company increases its refining capacity to meet domestic fuel demand,...
News

Board overlooking oil fund protects country from whims of lone official, says Ali in public message

OilNOW -
Guyana’s President, Dr. Irfaan Ali on Tuesday put forward an impassioned case in support of the Natural Resources Fund (NRF) Bill 2021 which his administration laid in Parliament this month, saying key provisions in the document takes away extraordinary...
News

Nasdaq says Guyana GDP will hit double digits by 2023

OilNOW -
Guyana is among the few nations in the world which managed to evade economic contraction during 2020 as massive investments fueled by the more than 10 billion barrels of oil equivalent resources found off of its coast continue to...
Exploration

Repsol conducting survey at Guyana block ahead of 2022 drill campaign

OilNOW -
Spanish oil company Repsol is moving to conduct a geotechnical survey at the Kanuku Block offshore Guyana where it plans to drill another exploration well in 2022. This exercise will incorporate the use of the PSV MIA and will take...
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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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