News

News

CGX contract outlines 53% profit oil, 1% royalty for Guyana

OilNOW -
The petroleum agreement between the Government of Guyana and Canadian-based CGX Resources Inc. (CGX Energy) stipulates 53 percent profit oil and 1 percent royalty for the South American country in the event the company makes a discovery and moves...
News

Guyana President downplays ‘renegotiation’ of ExxonMobil contract

OilNOW -
Guyana’s Head of State, President David Granger has downplayed the notion of renegotiating the Production Sharing Agreement between the South American country and ExxonMobil affiliate - Esso Exploration and Production Guyana Limited. Speaking to members of the media on Wednesday...
News

Maduro claims Venezuela lifted oil production by 250,000 Bpd

OilNOW -
(OilPrice) While analyst estimates and official figures show that Venezuela’s crude oil production continues to plummet amid a severe economic crisis and cash crunch, Venezuelan President Nicolas Maduro—true to his rhetoric--said on Thursday that the country’s oil production had increased...
News

Largest oil and gas lease sale in U.S. history set for March

OilNOW -
The U.S. Department of the Interior will offer 77.3 million acres offshore of Texas, Louisiana, Mississippi, Alabama and Florida for oil and gas exploration and development. This will be the largest such lease sale in the country's history. It will...
News

Oil and gas sector recovery ‘not yet certain’ says OCBC CEO

OilNOW -
The risk that banks face within the oil and gas sector is currently "contained" but the outlook for the industry remains far from certain, according to the CEO of Singapore's oldest bank. OCBC's Samuel Tsien said that rising oil and gas prices indicate...
News

Developing Guyana O&G sector without civil society foolhardy – Redford

OilNOW -
Civil Society’s input – informed or not - ultimately guides the development of an emerging oil and gas industry, and as such, in a Guyana context, there is need for a greater embrace of collaboration between the industry and...
News

Petroleum Commission will not collect oil revenue – MNR

OilNOW -
Guyana’s Ministry of Natural Resources (MNR) said on Thursday that the country’s tax agency; Guyana Revenue Authority (GRA), will be responsible for the collection of revenue associated with oil production, and not the soon to be established Petroleum Commission. In...
News

Guyana oil will fuel global economic growth – ExxonMobil VP

OilNOW -
The emerging oil and gas industry in Guyana, where ExxonMobil has to date discovered an estimated 3.2 billion recoverable oil-equivalent barrels, will not only fuel economic growth in the South American country, but across the world. This is according...
News

Noble Energy divesting Gulf of Mexico assets for $710 million

OilNOW -
Noble Energy, Inc. (NYSE: NBL) announced on Thursday that a $750 million share repurchase program has been authorized by its Board.  In addition, the Company has executed an agreement to sell its deepwater Gulf of Mexico assets to Fieldwood Energy LLC ("Fieldwood") for a total value of $710...
News

Guyana must avoid borrowing on projected oil revenue – Fmr T&T Energy Minister

OilNOW -
Former Minister of Energy and Energy Affairs in Trinidad and Tobago, Kevin Ramnarine, believes Guyana would do well to guard against any borrowing on its projected income from oil since these revenues are merely estimates, being made in an...
1...864865866...949Page 865 of 949

Latest News

NewsKemol King -

Authorities say CGX has been treated fairly, insist no dispute exists with company

There is no dispute between CGX Energy and the Guyana government, the country's Minister of Natural Resources, Vickram Bharrat,...

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.

Quick Access

Company Info

Social Networks