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Business Ministry to take lead on development of local content policy framework

OilNOW -
Guyana’s Ministry of Business has been tasked with spearheading the development of the country’s local content policy framework, now slated to be finalized and completed by the end of April. This was disclosed by the South American country’s Minister of...
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Guyanese authorities meet to finalize national oil-spill response plan

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Guyanese authorities today began—through a one day stakeholder workshop—a review of its National Draft Oil Spill Contingency Plan, for finalizing and implementation within the next 24 months, ahead of first-oil in March 2020. Spearheaded by the South American country’s Civil...
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Guyana’s windfall from oil production is not fake news – US Ambassador

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United States Ambassador to Guyana Perry Holloway on Tuesday told an oil and gas forum that Guyana is set to receive significant revenue  when oil production begins in 2020 and this “is not fake news.” The US Ambassador vigorously outlined...
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Guyana moving towards compilation of first EITI report

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An independent administrator will soon be hired, as part of the requirement by the international body of the Guyana Extractive Industries Transparency Initiative (GYEITI), to support the South American country with the compilation of its first report. This was disclosed...
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Nabi Oil & Gas PSA outlines ‘sliding’ 70% cost recovery pegged on oil price of US$100 per barrel

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The Government of Guyana is to release another Petroleum Agreement shortly; this time for Nabi Oil and Gas Inc., signed in 2012. This is according to sources close to Cabinet. OilNOW understands that the Nabi contract could be released to...
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Goldman Sachs: oil’s seven sisters enter a ‘golden age’

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(Bloomberg) -- The world’s largest oil companies have survived a life-changing crisis, and are now poised to reap the rewards, Goldman Sachs Group Inc. said. Big Oil is in a sweet spot with rising oil prices and low operating costs,...
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Jamaica energy minister warns against unrealistic oil expectations

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Jamaica’s Minister of Science, Energy and Technology, Dr. Andrew Wheatley has warned against any unrealistic expectations of a financial windfall in the short term from the three-dimensional (3-D) seismic survey for offshore oil and gas exploration now getting under...
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Giant oil trader with no women in top jobs says change must come

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Commodity houses must do more to get women into top jobs, according to Vitol Group, the biggest independent oil trader, and a firm that like others in the industry staffs its leadership committee entirely with men. “We accept that it’s...
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Gov’t maintained ExxonMobil 600-block acreage for strategic reasons – Trotman

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The new coalition government that came to office in Guyana in 2015 felt it was in the country’s best interest for ExxonMobil – the only company with a willingness at the time to explore in territory threatened by Venezuela...
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First cohort of TOTALTEC Academy starts oilfield training today

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The new TOTALTEC academy will today commence its Oilfield Operator Training Programme with a first cohort of 24 young Guyanese. TOTALTEC is one of the investors in the Guyana Shore Base Inc., which has been contracted by ExxonMobil Guyana to...
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TGS launches first 3D seismic survey in Brazil’s Barreirinhas Basin

TGS, a global leader in energy data and intelligence, has announced the start of the Megabar Extension Phase I...

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