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Venezuela’s main source of cash is dwindling at breathtaking pace

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(CNN Money) The country's oil output in January fell to its lowest level in nearly 30 years, not including a brief oil strike in 2003, according to S&P Global Platts. A monthly OPEC report published Monday revealed Venezuela pumped 1.6...
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Surge in global oil supply may overtake demand in 2018: IEA

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(Reuters) - The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday. The Paris-based IEA raised its forecast for oil demand growth in...
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Guyanese businessman unveils plan for mega O&G shore-base

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Source One Oil & Gas Marine Supplies - a subsidiary of heavy duty machinery company Japarts - has launched an ambitious plan to construct a full service and logistics shore-base facility for oil and gas drilling and exploration activities...
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BP begins production from Egypt’s Atoll gas field

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BP on Monday announced the start of gas production from the Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East Nile Delta, was delivered seven months ahead of schedule and 33% below...
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Guyanese Energy Company teams up with Canadian counterparts in major joint venture

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Newly established Guyanese company; Pandora Energy has entered into a joint venture partnership with Coastal Safety Management Inc. and Safe Work Solutions Inc. of Canada to provide a range of services in the oil and gas industry. The official announcement...
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Change in political leadership should not affect national agenda – Persaud

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Guyana’s former Minister of Natural Resources, Robert Persaud, is calling for a framework to be established that would ensure there is some degree of continuity and consistency when it comes to how long-term goals for national development are treated...
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US to help Jamaica if Venezuela cuts oil

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(Jamaica Observer) United States Secretary of State Rex Tillerson on Saturday assured Jamaica that Washington would assist the Government in overcoming any fallout arising from supporting efforts to promote democracy in Venezuela. Tillerson, who was speaking at a press conference...
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Standoff in high seas as Cyprus says Turkey blocks Saipem 12000 drill ship

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(Reuters) - Cyprus on Sunday accused the Turkish military of obstructing a ship contracted by Italian oil company Eni from approaching an area to explore for natural gas, highlighting tensions over offshore resources in the east Mediterranean. A spokesman for...
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Trent University Prof. cautions Guyanese on oil development ‘myth’ at GIPEX 2018

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Trent University Professor, Suresh Narine, told participants at the Guyana International Petroleum Exhibition and Summit (GIPEX 2018) held in Guyana last week that revenue from oil production must be utilized to ensure across the board improvements in peoples’ development...
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GO-Invest makes pitch to oil executives for investments in support sectors

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Chairperson of the Guyana Office for Investment (GO-Invest) Board of Directors, Patricia Bacchus, on Wednesday made a pitch to international oil executives participating in the inaugural Guyana International Petroleum Exhibition and Summit (GIPEX 2018), urging them to explore investment...
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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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