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IDB will not support major projects without sound EIA – Executive Director

OilNOW -
Inter-American Development Bank (IDB) Executive Director Jerry Butler says the multilateral financial agency will not support any infrastructural project, including those in the oil and gas sector, in the absence of a comprehensive Environmental Impact Assessment (EIA) study. Butler was...
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Guyana must decide where it wants to be when oil wells run dry – Nigel Hughes

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Founder member and Director of the Guyana Oil & Gas Association (GOGA), Nigel Hughes says serious thought must be given as to where the South American country would like to be by the time oil runs out and the private...
News

Supermajor Total in new Option Agreement with Eco for 25% interest in Orinduik Block

OilNOW -
Toronto, Ontario (FSCwire) - Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V:EOG), is pleased to announce that its subsidiary, Eco Atlantic (Guyana) Inc. has entered into an option agreement  on its Orinduik Block, offshore Guyana, with Total E&P...
News

Canada sanctions 40 Venezuelans with links to Maduro regime

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Canada has announced sanctions on key figures in the Maduro regime in what the country’s Ministry of Foreign Affairs says is designed to send a clear message to the Venezuelan government that “their anti-democratic behaviour has consequences.” Chrystia Freeland, Minister...
News

Oil & gas is not a tsunami; Guyana PM urges positive outlook at opening of business conference

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A two-day conference examining investment opportunities in Guyana’s economy got underway this morning at the Marriott Hotel in Georgetown. Delivering the keynote address, Prime Minister of Guyana, Moses Nagamootoo, said a positive outlook is needed for the emerging oil and...
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Oil money will go towards savings, infrastructure and social programmes – Trotman

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A percentage of revenue from oil production in Guyana will go towards savings via the Sovereign Wealth Fund (SWF) and investments will be made in a raft of social and infrastructural programmes which the country’s government believes will help...
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US expands travel ban to include Venezuela

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(BBC) The United States has expanded its controversial travel ban to include people from North Korea, Venezuela and Chad. The White House said the restrictions follow a review of information sharing by foreign governments. Donald Trump issued a presidential proclamation late...
Exploration

Total, Chevron enter deepwater pact covering 16 blocks

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Total announced Friday that its subsidiary, TOTAL E&P USA, INC., has entered into an agreement to capture 7 prospects operated by CHEVRON U.S.A. INC. in the deepwater Gulf of Mexico. The agreement covers 16 blocks. The associated prospects are located...
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OPEC keeps oil market guessing over further production cuts

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(Bloomberg) - Ministers from OPEC and its allies look set to keep everyone waiting longer for confirmation of further action to rebalance the oil market, sending conflicting signals on whether they’ll discuss extending or deepening supply cuts in Vienna...
News

Newly trained Guyanese urge countrymen to acquire skills in oil & gas

OilNOW -
Fourteen Guyanese departed the South American country for neighboring Trinidad and Tobago in August for what has been a life-changing experience developing skills and expertise for work in the oil and gas industry. Hands-on exposure to the marine work environment...
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Hess reports Q3 gains with Guyana leading production growth

Hess Corporation revealed a strong third quarter driven by expanded production in Guyana’s offshore Stabroek Block. The company reported...

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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