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Signature petroleum summit to be officially launched today in Guyana

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The inaugural Guyana International Petroleum Business Summit & Exhibition (GIPEX) 2018 will be officially launched today at a press conference being held at the Marriott Hotel in Georgetown. The country’s Minister of Natural Resources, Raphael Trotman, will launch GIPEX 2018,...
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Gulf of Mexico could pump record oil in 2018 – Wood Mac

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(Chron) Oil and gas production could reach an all-time high in the deep waters of the Gulf of Mexico this year as companies cut costs and spend less on exploration. Deepwater output in the Gulf could climb to 1.9 million...
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Bauxite Company says not enough natural gas available for smelter – Trotman

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Bauxite company Bosai Minerals Group (Guyana) Inc. has indicated that the quantity of natural gas that would be available when oil production begins in 2020 is inadequate to power a smelter. The South American nation’s Natural Resources Minister, Raphael Trotman...
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U.S. oil industry set to break record, upend global trade

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(Reuters) - Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. And...
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Exxon hits hydrocarbons in Papua New Guinea

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ExxonMobil announced on Monday that it encountered hydrocarbons after drilling the onshore P’nyang South-2 well, located in the Western Province of Papua New Guinea. “We are currently evaluating the well results and together with our co-venture partners will assess the...
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Need for pipe yards, fabrication and fuel supply facilities in Guyana increases with Liza Phase 2

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When the proposed Liza Phase 2 development project comes on stream in 2022 approximately 120 miles offshore Guyana, the need for a number of shorebase services will significantly increase. ExxonMobil Guyana says the project will utilize onshore infrastructure which may...
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Shell advances Penguins redevelopment

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(Offshore Engineer) Shell will go ahead with its Penguins fields redevelopment in the UK North Sea in what will be its first new manned installation in the northern North Sea in almost 30 years. The project will see a newbuild...
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TIGI signing bonus court case against Guyana Gov’t hits ‘snag’

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Litigation brought against the Guyana Government by anti-corruption watchdog agency Transparency Initiative Guyana Inc. over the US$18 million signing bonus it received from ExxonMobil hit a snag in the courts on Monday as Chief Justice Roxanne George was unable...
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Total closes $1.95bn Brazil pre-salt deal with Petrobras

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Brazilian oil and gas corporation Petrobras and international oil major Total announced Monday that they have reached a milestone in the realization of their Strategic Alliance, signed in March 2017, with the transfer from Petrobras to Total of 35%...
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Tullow Oil tiptoes back into exploration

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(Reuters) - Tullow Oil is cautiously reviving its search for new oil and gas resources in Africa and Latin America, its chief executive said, warning that the sector will need to walk a thin line to balance spending discipline...
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TEDxTurkeyen conference to spark bold civic dialogue this August

A “space for fresh ideas, civic reflection, and visionary thinking”, TEDxTurkeyen is set to debut on August 29 at...

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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