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Preparations for operationalization of Guyana’s Department of Energy to commence

OilNOW -
Guyana’s Department of Energy, which will have oversight of the country’s emerging Oil and Gas (O&G) industry was on Wednesday, August 1, 2018, officially established, with the unit being formally listed in the South- American nation’s Official Gazette. With the...
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ExxonMobil to implement wide-ranging measures in the event of oil spill in Guyana

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ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) has outlined a number of measures the company will take in the event of an oil spill from its Liza Phase 1 development. The company’s Oil Spill Response Plan (OSRP) was...
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Positive IMF global growth forecasts propel oil prices upwards

OilNOW -
Oil prices rose last week, after several significant political and economic developments around the world, including Saudi Arabia's suspension of oil shipments through a strait in the Red Sea following an attack on two oil tankers as well as eased trade...
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Shell Brazil invests in solution for inspecting FPSO tanks

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(World Oil) Aberdeen-based inspection technology and service provider for the oil and gas industry, Innospection, Shell Brazil and SENAI CIMATEC technology institute in Salvador, Brazil, have recently signed a partnership agreement to develop a robot-based technology for in-service inspection...
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UK Firm to prepare Guyana’s first EITI Report

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A United Kingdom (UK) Accountancy and Advisory firm has been selected to prepare Guyana’s first Extractive Industries Transparency Initiative (EITI) Report. This was revealed by National Coordinator of Guyana Extractive Industries Transparency Initiative (GYEITI), Dr. Rudy Jadoopat on Tuesday, July...
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Guyana State Minister, private sector members discuss O&G

OilNOW -
Guyana’s Minister of State, Joseph Harmon, on Monday, met with the executive members of the Private Sector Commission (PSC) at his office at the Ministry of the Presidency. Among the areas discussed were increased collaboration between the Government and the...
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Guyana businesses want local content legislation – GCCI President

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President of the Georgetown Chamber of Commerce and Industry, Deodat Indar, says that the business community in the South American country would like to see, at the very least, some degree of legislation enacted for local content rather than...
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Higher oil price boosts BP’s recovery, second-quarter profit up four-fold

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(Reuters) - Higher oil prices and increased output helped BP quadruple its second-quarter profit from a year earlier as the oil major finally shakes off the after-effects of 2010’s Deepwater Horizon spill and the last oil market slump. Second-quarter results...
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ExxonMobil sees agro support as key to helping small businesses grow

OilNOW -
Dozens of Guyanese agro-processors once again had an opportunity to showcase and market their products at the second UncappeD Marketplace event held on Saturday, July 28 at the National Track and Field Centre, Leonora, West Coast Demerara. More than 50...
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High production and prices will help ExxonMobil recover CAPEX quickly; Guyana revenue to spike

OilNOW -
High oil production and price in the early years of the Liza Phase 1 development will help ExxonMobil recover its Capital Expenditure rapidly, after which Guyana can expect a spike in revenue from its share of oil. So says Trinidad...
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Guyana’s annual take from oil to balloon to US$9.2 billion in 2030 – Rystad Energy

Guyana is projected to receive US$9.2 billion in revenue from oil sales and royalties in 2030, according to a...

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