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Fiscal rules can help Guyana avoid resource curse – Polish Economist

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Polish Economist Ludwik Kotecki believes that strong fiscal rules will play a vital role in the management of oil revenue by helping Guyana avoid commodity price shocks, pro-cyclical government expenditures and the Dutch Disease; all elements of the dreaded...
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Brazil’s president scrambles to name new Petrobras CEO

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(Reuters) - Brazilian President Michel Temer scrambled to name a new chief executive for state-controlled oil producer Petroleo Brasileiro SA on Friday, after the surprise resignation of CEO Pedro Parente over fuel pricing policies. Parente’s departure wiped $11 billion off...
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Total determined to drill Amazon Basin despite Greenpeace protest

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Total (NYSE: TOT) is determined to push ahead with its plans to drill for oil in the Amazon Basin, it said on June 1 as Greenpeace activists interrupted its annual general meeting in protest at the project. The French oil major...
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Woodbury retires, replaced by Hansen

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Exxon Mobil Corporation (NYSE:XOM) said Friday that Jeff Woodbury, Vice President of Investor Relations and Secretary, has elected to retire after 35 years of service. The Board of Directors has elected Neil Hansen, Downstream Controller, as Vice President of Investor...
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ExxonMobil spuds first development well for Liza Phase 1 in Guyana

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ExxonMobil spudded the first of 17 wells for the Liza Phase 1 development in Guyana on May 8 in what is being described as a landmark occasion by the company. The first well also happens to be a ‘producer...
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TechnipFMC seeking multiple services for Guyana operations

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ExxonMobil Guyana Tier 1 contractor, TechnipFMC, is inviting companies to submit Expressions of Interest (EOI) for a number of upcoming opportunities in the South American country. The company is in search of logistics, procurement and transportation services, inclusive of ground...
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Oil at $70 is “good enough” – Halliburton CEO

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Plunging oil prices are rattling the oil markets, but that doesn’t worry Jeff Miller, CEO of Halliburton Company (HAL), one of the world’s largest oil field service companies. Miller feels good with oil prices now trading around $70 a barrel, telling...
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Guyana part of ExxonMobil’s ‘richest portfolio of investment opportunities’ – Woods

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ExxonMobil’s Chairman and Chief Executive Officer Darren Woods told shareholders during the company’s annual meeting on Wednesday that it has put together the richest portfolio of investment opportunities since the merger that brought together Exxon and Mobil some 20...
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Political partisanship ‘biggest mistake’ for Guyana’s Sovereign Wealth Fund – former MP

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A former Member of Parliament (MP) in Guyana believes that political partisanship poses the greatest threat to the establishment and effective management of a Sovereign Wealth Fund (SWF) in the soon-to-be oil producing South American country. Delivering a presentation on...
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Total farms into Angola

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Total S.A. TOT has signed agreements with Sonangol, covering certain upstream and downstream operations in Angola. These agreements will further strengthen TOTAL's operation in the country. Total has been operating in Angola for the past seven decades and is the leading...
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An inside look at the complex nature of moving a drillship 

Relocating a drillship requires careful planning and execution, according to Richard Wells, International Logistics Manager at Stena Drilling, who...

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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