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Hess is building a war chest to fund its $4.4 billion Guyana find

OilNOW -
(Bloomberg) With $2.7 billion in oilfield sales this week, Hess Corp. is making a calculated bet, giving up steady production today to help fund what could be one of the world’s biggest discoveries into the next decade. The oil explorer...
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Guyana EITI candidature application approved

OilNOW -
The Extractive Industries Transparency Initiative (EITI) Board has approved Guyana’s EITI candidature application making the South American country the 53rd candidate of the global transparency body. OilNOW understands Guyana’s EITI National Coordinator, Dr. Rudy Jadoopat travelled to the Philippines to...
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Guyana to consider Chevron’s quest for offshore acreage

OilNOW -
Guyana’s Minister of Natural Resources, Raphael Trotman, says he is excited by the interest being shown by foreign companies looking to tap into the prospects of the country’s oil and gas sector. He made specific mention of US supermajor, Chevron,...
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Berbicians briefed on Exxon business centre services

OilNOW -
ExxonMobil’s Centre for Local Business Development (CLBD) in Guyana on Monday met with residents and members of the Berbice business community at the Berbice Chamber of Commerce in New Amsterdam. This meeting follows a series of similar meetings with business...
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Hess exiting Norway and Denmark

OilNOW -
Hess Corporation (NYSE: HES) announced on Monday several additional steps in what the company says is the continued execution of its strategic plan to further focus its portfolio and allocate capital to higher return assets: An agreement to sell its...
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African oil expert delivers presentation to packed audience in Georgetown

OilNOW -
Theophilus Nyamko Ahwireng, former Chief Executive Officer of the National Petroleum Commission of Ghana delivered a well-received presentation on resource management, governance and sustainable development of the oil and gas sector to a packed audience in Georgetown, Guyana, on Monday. The...
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Kosmos farms into Equatorial Guinea with three new contracts

OilNOW -
The Ministry of Mines and Hydrocarbons of Equatorial Guinea, Kosmos Energy of the US and national oil company GEPetrol have signed three new production sharing contracts (PSC) for Block EG-21, Block S and Block W offshore Rio Muni. The...
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Business group staging public discussions on O&G across Guyana

OilNOW -
A key group representing the business community across Guyana will be staging a series of public discussions on oil & gas, beginning today. The Georgetown Chamber of Commerce and Industry (GCCI) will be spearheading a series of public lectures and...
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US clout in world oil market grows as exports increase

OilNOW -
(CNBC) For two separate weeks recently, the U.S. exported as much oil onto the world market each day as was being pumped in either Nigeria or Venezuela and by several other OPEC countries together. Those roughly 1.9 million barrels a...
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Guyana Stock Exchange head wants foreign companies to sell shares on local market

OilNOW -
While the law does not stipulate that foreign companies should make shares available on the Guyana Stock Exchange, General Manager of the entity, George Edwards, said this is an area that the country's Government should give consideration to. In an...
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Guyana gov’t can withdraw up to 96% of last year’s oil earnings in 2025 budget

The Guyana government can withdraw 96% of its 2024 earnings from the oil sector, based on the withdrawal rule...

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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