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Support for fund to manage billions in oil revenue growing in Guyana – Commonwealth

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The Commonwealth, which has been playing an integral role in helping Guyana to create regulations, policies and legislation for its emerging petroleum industry says support for a fund to manage oil revenue has grown among key stakeholders in the...
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Oil producer Ghana taking steps to curb fuel prices at the pump

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The oil producing West African nation of Ghana is looking to take steps to curb volatility in prices consumers pay at the pump for fuel, amid the rising cost for oil on the global market. According to a Bloomberg report,...
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Guyana urged to avoid poor governance, bad investments of oil revenue

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The resource curse, sometimes referred to as the paradox of plenty, afflicts a number of resource-rich countries around the world, and with the coming of oil, Guyana is becoming increasingly aware of the dangers associated with this scourge. In addition...
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Roraima, PAL partner for O&G aerial surveillance services in Guyana

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Guyanese air services company Roraima Airways is partnering with PAL Aerospace, an international aerospace and defence company headquartered in Canada, for provision of a range of services in the oil and gas industry. PAL provides most of Canada’s maritime domain...
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Chevron names Brazil chief to lead Venezuela operations after arrests

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(Reuters) - U.S. oil producer Chevron Corp has permanently assigned its Brazil country chief to run its Venezuelan operations after the months-long detention of two executives escalated tensions between the OPEC-member nation and foreign oil firms. Javier La Rosa, who had...
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JP Morgan forecasts lower oil prices this year and further drop in 2019

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Oil prices are heading for a downturn later this year and will sink even lower in 2019 as the fundamentals of supply and demand weaken, J.P. Morgan forecast in a research note on Friday. "While geopolitical tensions and lingering risks of large...
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Liza Destiny contractor ramping up human resources in Guyana

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ExxonMobil’s prime contractor SBM Offshore; the company that is building the Floating, Production, Storage and Offloading Vessel (FPSO) for oil production in Guyana, is looking to fill a number of positions as preparation for first oil gets underway. Through its...
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ExxonMobil adds more than 88,900 acres to deepwater holdings in Brazil

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ExxonMobil has increased its holdings in Brazil’s pre-salt basins after winning the Uirapuru exploration block with co-venturers Equinor and Petrogal Brasil during Brazil’s 4th pre-salt bid round. The block awarded adds about 88,900 net acres to the ExxonMobil portfolio, expanding the...
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Guyanese tech company catapulted to world stage after building ExxonMobil supplier portal

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Information and Communication Technology (ICT) company BrainStreet has been catapulted to the international arena after building the Supplier Registration Portal for ExxonMobil’s Centre for Local Business Development (CLBD) in Guyana. The 100% Guyanese owned company, in operation since 1994, took...
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Deepwater ‘super basins’ could be windfall for oil stocks – WoodMac VP

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Guyana is among the most interesting deepwater basins in the world, Andrew Latham, vice president of exploration research at Wood Mackenzie, told IBD. He noted that ExxonMobil and Hess make discoveries with almost every well they drill in the region. "They...
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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...

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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