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ExxonMobil makes discovery off Equatorial Guinea

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Fresh off its Turbot-1 well discovery in the South American nation of Guyana, ExxonMobil has made a discovery at the Avestruz-1 well drilled offshore Equatorial Guinea, though the commerciality of the find is still to be determined. The well was...
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Finance Minister says no rules broken with special account for signing bonus

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Guyana’s Minister of Finance, Winston Jordan, has defended the deposit of an US$18M ‘signing bonus’ into a special account at the Bank of Guyana, as ‘standard practice,’ saying “we are not breaking any rule.” Mr. Jordan defended the transaction in...
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Multi-sector stakeholder group to steer Guyana O&G sector

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The Guyana Government has embarked on the establishment of a multi-sector stakeholder committee for the oil and gas sector which it hopes will comprise members of civil society and the parliamentary parties. The announcement came as Minister with responsibility for...
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Oil price hits 30-month high after North Sea pipeline closure

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(The Guardian) The price of oil has hit a 30-month high after the owner of a major North Sea pipeline said it could be shut for as long as three weeks. The price of a barrel of Brent crude has...
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North Sea oil and gas pipeline repairs could take three weeks, say operators

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(Belfast Telegraph) The pipeline has been shut to repair a crack in the pipe which was discovered last week during a routine inspection south of Aberdeen. Operators Ineos said the repair would be more complicated than first thought as the...
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St Lucia PM renews appeal for information on controversial Oil Exploration Agreement

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(CARIBBEAN NEWS NOW) – Some four years after then leader of the opposition in Saint Lucia, Stephenson King, wrote to the governor general, Dame Pearlette Louisy, seeking clarification regarding an oil exploration licence purportedly granted to Colorado oilman Jack Grynberg...
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Private sector officials say making local content too prescriptive can hurt industry

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As discussions continue on the nature and type of local content mechanism Guyana should adopt in order to ensure businesses in the South American country benefit from oil and gas opportunities, some private sector officials are signaling that stringent...
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“We did pay a US$18M signing bonus” – Exxon Country Manager

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Country Manager of ExxonMobil Guyana, Rod Henson, told media representatives on Sunday evening that the company did indeed pay a US$18M signing bonus to Guyana. Mr. Henson, speaking on the sidelines of a Public Lecture on Oil Spill Response Readiness...
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UG forges ‘petroleum partnerships’ with UWI/UTT

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The University of Guyana (UG) has begun accelerating its capacity building efforts in order to ensure adequate tertiary training is available in light of Guyana’s emerging oil & gas industry. As such, UG has in recent weeks and months been...
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Criticism mounts on Guyana Gov’t’s handling of ‘signing bonus’

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Days after Guyana’s Minister of Natural Resources, Raphael Trotman, told law makers in the country’s 65-seat National Assembly that the government did indeed receive a ‘sum’ from US oil major ExxonMobil when a new agreement was inked in 2016,...
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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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