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“It’s harder to earn money when prices are low and margins are tight” – ExxonMobil CEO

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The oil supply boon fueled by hydraulic fracturing has served to push petroleum prices down. This has triggered increased competitive pressures for resource-developing companies, like ExxonMobil, and increased revenue pressures for resource-owning governments, like Guyana. Speaking at the World Petroleum...
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Kosmos tightens loss, triples oil revenues

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(Offshore Energy Today) U.S. oil company Kosmos Energy tightened its net loss and tripled oil revenues during the second quarter 2017. The company has decided to once again reduce its capex for the year by $50 million. According to its...
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16 youths embark on inaugural natural resources apprenticeship programme

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Sixteen youths will have an opportunity during the month of August to learn more about the operations of the agencies and industries in Guyana’s natural resources sector, as part of a Youth in Natural Resources Apprenticeship Programme, launched today...
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Use oil revenue to develop agriculture sector; urges Guyanese engineer

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A Guyanese engineer is urging authorities to ensure some of the revenue the country is set to receive from oil production is used to develop the agriculture sector. Dr. Vincent Adams told dozens of persons gathered on Thursday for a presentation...
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Saipem awarded offshore contract variations worth $900M

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Saipem and Petrobel have finalized offshore contract variations worth 900 million USD for Engineering, Procurement, Construction and Installation (EPCI) activities in relation to the “Optimised Ramp Up” phase of the “supergiant” Zohr Field Development Project situated in the Mediterranean...
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MSG members call for responsible media reporting on oil & gas in Guyana

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As the conversation on Guyana’s emerging oil and gas industry begins to take center-stage, stakeholders, while recognizing the critical role of the media in keeping the public informed, are calling for more responsible reporting. Members of the Guyana Extractive Industries...
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As Venezuela spirals US oil confronts a $10b threat

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From New Jersey down to Texas, oil companies have come to depend on crude-soaked Venezuela to feed their massive refineries The tanker Paramount Helsinki docked in Pascagoula, Mississippi, last week bearing the lifeblood of Chevron Corp’s refinery there: 532,000 barrels...
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Class action lawsuit filed against TechnipFMC

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(GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against TechnipFMC plc (“TechnipFMC” or the “Company”) (NYSE:FTI) and certain of its officers.   The class action, filed in United States District Court, Southern District of...
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Venezuela could try to use details in petroleum contract to jeopardize production – Source

OilNOW -
The contract and agreements for the development and production of hydrocarbon resources offshore Guyana may have as much as 1,000 clauses, one or more of which Venezuela could try to use to jeopardize the entire contract, and in so doing, oil...
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Civil society must position itself to play watchdog role – Canadian High Commissioner

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One of the key factors which can ultimately contribute to Guyana’s success as an oil and gas producing nation, is a vibrant and well informed civil society. Outgoing Canadian High Commissioner to Guyana, Pierre Giroux, believes that much more...
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Guyana Energy Conference launches essay competition for high schoolers

The Guyana Energy Conference and Supply Chain Expo (GECSCE) has launched its first-ever essay competition, open to Guyanese students...

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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