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Results from Redtail-1 drill campaign expected this month – Neil Chapman

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Results from the Redtail-1 prospect located some 103 nautical miles off the coast of Guyana at the Stabroek block is expected this month, according to ExxonMobil Senior Vice President, Neil Chapman. The drillship Noble Don Taylor moved to the Redtail-1...
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Guyana’s economic take-off tied to development of multi-billion-barrel oil resources

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Guyana’s positive economic outlook even in face of the coronavirus pandemic is based on the development of several billion barrels of discovered oil resources and the impact this is expected to have on the economy. Should these resources remain...
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UPDATED: Irfaan Ali sworn in as Guyana’s 9th Executive President

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Guyana's General and Regional Elections held on March 2, 2020 finally concluded on Sunday with the Guyana Elections Commission (GECOM) declaring the opposition People’s Progressive Party Civic (PPP/C) as having received the majority of votes and its candidate Dr....
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Second royalty payment pushes Guyana’s oil revenue above US$98 million

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Guyana’s second royalty payment from oil produced and sold in Q2 2020 now pushes the total revenue the country has received since oil production began last December to more than US$98 million. Finance Minister, Winston Jordan, has confirmed that the...
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Magazine celebrating achievements of women to be launched soon in Guyana

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Guyana’s first Women’s Chamber has partnered with Creative Marketing Company (CMC) to produce its first edition of ‘Women in Focus’, a publication aimed at inspiring women and promoting their achievements. The Women’s Chamber of Commerce and Industry Guyana (WCCIG) was...
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U.S. defense firm joins creditors seeking to enforce Venezuela judgments

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(Reuters) - U.S. defense contractor Huntington Ingalls Industries Inc has joined a long line of creditors seeking to enforce a judgment against heavily indebted OPEC member Venezuela, court documents filed on Friday showed. Huntington Ingalls’ shipbuilding unit earlier this year...
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OPEC July oil output surges as Gulf voluntary cuts end: survey

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(Reuters) - OPEC oil output has risen by over 1 million barrels per day (bpd) in July as Saudi Arabia and other Gulf members ended their voluntary extra supply curbs on top of an OPEC-led deal, and other members...
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September time-frame for Payara approval “very important” – Neil Chapman

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Guyana Government approval of the 220,000 barrels per day Payara Development Project by September is being viewed as “very important” if ExxonMobil is to capitalize on a crucial window of opportunity to get the project going without further delays. The project was...
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Apache’s Block 58 offers most promise for Suriname resource – Morgan Stanley

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US multinational investment bank and financial services company Morgan Stanley says despite a wave of lease awards beginning in 2010, no commercial oil resource had been discovered in offshore Suriname prior to Maka Central-1, Apache's first exploration well on...
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Venezuela supreme court approves extradition request to Italy for ex-oil czar

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(Reuters) - Venezuela’s supreme court said on Friday it had approved a request to Italy for the extradition of Rafael Ramirez, a once powerful oil minister and former head of state oil company Petroleos de Venezuela, on corruption charges. Authorities...
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Guyana Electric boosts grid reliability with specialized high-voltage training

Guyana Electric has launched specialized training courses in medium and high-voltage cable terminations and joints, aimed at improving installation...

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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