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Guyana vows to honour ExxonMobil deal as countdown to first oil begins

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Speaking at a reception on Tuesday to mark the start of the development phase of Liza Phase 1 in Guyana, the country’s Minister of Natural Resources, Raphael Trotman, said responsible governments do not arbitrarily redefine contract terms with a company...
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Liza Phase 1 development progressing rapidly – ExxonMobil

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The Liza Phase 1 development continues to rapidly progress, with the commencement of development drilling offshore Guyana, ExxonMobil said on Tuesday. Development drilling began in May for the first of 17 wells planned for Phase 1, laying the foundation for production...
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Local Content Push: 40 Ghanaian companies to go on UK trade mission for O&G

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Ghana’s Petroleum Commission is leading a delegation of over 40 local companies on a week’s oil and gas trade mission to Aberdeen, Scotland. The goal is to engage with their Scottish counterparts seeking business opportunities in Ghana’s upstream petroleum...
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Repsol, Total in US$324M deal with Algeria’s Sonatrach

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Algerian energy giant Sonatrach on Monday signed a contract worth 324 million U.S. dollars with France's Total and Spain's Repsol for the development of a gas field in the south of the country. Under the contract, Sonatrach holds a major...
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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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Guyana continues to defy expectations, says U.S. market intelligence firm

Americas Market Intelligence (AMI) has once again placed Guyana in a category of its own, labeling it as “great”...

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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