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Australia, East Timor sign deal on maritime border, agree to share revenue from Greater Sunrise oil and gas

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Australia and East Timor have signed an agreement that draws the first maritime border between the two nations. It is hoped the deal, signed at the United Nations in New York, will end the bitter dispute over oil and gas...
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Guyana playing major role in ExxonMobil aggressive growth plans that is set to double earnings

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ExxonMobil today outlined an aggressive growth strategy to more than double earnings and cash flow from operations by 2025 at today’s oil prices. The South American country of Guyana is listed as one of the key drivers in these latest...
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ExxonMobil, Guyana officials stress ‘sanctity of contract’ at O&G seminar

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As questions continue to be raised about the prospect of a ‘renegotiation’ of the Production Sharing Agreement (PSA) between Guyana and ExxonMobil, officials from both the Guyanese government and the oil company are adamant that the contract is valid...
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Comparison between Guyana & Ghana oil contracts ‘selective, misleading’ – Business Minister

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Guyana’s Minister of Business, Dominic Gaskin on Tuesday condemned what he calls a concerted effort to derail progress in the country’s emerging Oil and Gas (O&G) industry, saying those comparing the country’s 2% royalty to Ghana's 10% “know very...
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ExxonMobil plugs $2M into flood relief for affected areas in Guyana

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Guyana’s Minister of State, Joseph Harmon, said on Tuesday the Government of Guyana welcomes a $2M donation from ExxonMobil Guyana towards flood relief efforts for residents and communities affected due to overtopping of seas defences in sections of the...
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One year earnings from oil equals 8 from gold – Business Minister

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The Guyana Government has collected just over US$300M in royalties and taxes from all the gold produced in the country over the last eight years which means in the first year of oil production, the country will earn about...
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Guyana economy could reach size of T&T’s by mid 2020s – Ramnarine

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Fueled by oil revenue, Guyana’s economy is set to reach that of its CARICOM neighbor - Trinidad and Tobago - by the mid-2020s. This is the view of the twin island republic’s former Minister of Energy and Energy Affairs,...
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Oil companies give contracts disclosure thumbs up

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Making good on its promise to publicly release contracts signed with oil companies operating off the country’s coast, the Government of Guyana has to date published 3 such agreements - a move being commended by explorers. Sustained calls from the...
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Exxon-led consortium, Spain’s Repsol submit interest in Greek oil and gas tenders

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(Reuters) - Greece has received two expressions of interest for oil and gas exploration and exploitation tenders off Crete and in the Ionian Sea, the country’s oil and gas resources management company (HHRM) said on Monday. HHRM said a consortium...
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ExxonMobil gunning for oil at Liza 5

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ExxonMobil is set to begin another drilling foray this week in search of more oil off the coast of the South American country of Guyana. The company's affiliate - Esso Exploration and Production Guyana Ltd. will begin a 3-month drill...
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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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