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Staying home, getting cheque in mail not on the cards for oil revenue – Finance Minister

OilNOW -
Guyana’s finance minister, Winston Jordan, says while the prospect of cash payouts to citizens from oil revenue has not been discussed at the level of Cabinet since it was first floated several months ago, it is not something that...
News

CARICOM reaffirms ‘unswerving support’ for Guyana in border spat with Venezuela

OilNOW -
The Caribbean Community said this week in a Communique coming out of the 40th Regular Meeting of the Conference of Heads of Government that it remains committed to supporting Guyana in the country’s efforts to preserve its sovereignty in...
News

Mexico moratorium on oil auctions giving rival Brazil an edge

OilNOW -
(Bloomberg) -- Mexico’s moratorium on auctioning off its oil riches to foreign producers is giving a leg up to nearby rivals Brazil and Guyana. Mexico President Andres Manuel Lopez Obrador has halted new bid rounds, and state-owned Petroleos Mexicanos has...
News

Hammerhead opened pathway to potential 10-billion-barrel province

OilNOW -
Hammerhead, the 9th of 13 discoveries made so far off the oil-rich coast of Guyana, opened a new play in the Stabroek block that potentially unlocks a pathway for the emergence of a multi-billion-barrel province. So says Westwood Global...
News

New pipeline needed to meet surge in demand for Permian crude

OilNOW -
Growing supply of Permian crude means the basin will need extra crude oil takeaway capacity of up to 500,000 barrels per day (b/d) by the end of next decade, according to new research from global natural resources consultancy Wood...
Exploration

2016 Stabroek contract revisions followed dry hole at Skipjack

OilNOW -
When US oil major ExxonMobil first started exploration activities at the Liza field the odds of finding oil at the high-risk Guyana basin was less than 20 percent. The giant discovery in 2015 of 800 million to 1.4 billion...
News

Major trade & investment show launched in Guyana

OilNOW -
The second Guyana Trade and Investment Exhibition (GuyTIE) was officially launched on Wednesday, July 3, at the Arthur Chung Conference Centre on the outskirts of the country's capital, Georgetown, under the theme, “Made Locally, Trading Globally.” GuyTIE is intended to...
News

Risk and reward: less than 9 months to first oil

OilNOW -
With roughly less than nine months to go until first oil, there is great anticipation of the positive impact that oil revenues would potentially have on Guyana’s economic development. The 13 discoveries made by ExxonMobil thus far do not only...
News

Malaria surges back in crisis-hit Venezuela

OilNOW -
El Tucuco (Venezuela) (AFP) - The sweltering heat of the Venezuelan forest makes no difference to Jose Gregorio, who trembles with a cold chill. "I have pain everywhere, fever," he stammers. Gregorio has the classic symptoms of malaria, a disease...
News

Exxon to begin drilling development wells for Liza Phase 2 early next year

OilNOW -
ExxonMobil Guyana will begin drilling development wells for the 220,000 barrels per day Liza Phase 2 Development project early 2020 and is already looking to bring in a fourth drill ship by the end of this year, to facilitate...
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MODEC’s Guyana contract drives 1,327% surge in orders for 2025

Japan-based floating production specialist MODEC Inc. has reported strong results for the first nine months of 2025, driven by...

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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