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Shell begins deepwater production at newest FPSO in Brazil

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Royal Dutch Shell plc, through its subsidiary BG E&P Brasil Ltda. (Shell) and consortium partners in Lula South, announce Friday that deepwater production has started at the FPSO P-66, which is located in the Brazilian pre-salt of the Santos...
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UK Prof. to Guyanese worried about use of oil revenues: “You have the right to vote”

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As Guyanese continue to ask questions about how best they can ensure revenues collected from oil production is not misused, a visiting UK professor reminded over a hundred persons gathered at a forum last week, that they “have the...
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Venezuelan oil executive arrested in corruption probe

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(Reuters)Venezuela has arrested the manager of the Petropiar heavy crude upgrader, owned by state oil company PDVSA and US major Chevron, for alleged "irregularities" in contracts awarded in the oil-rich Orinoco Belt. Francisco Velasquez was detained on 13 May and...
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Incentive for corruption exists regardless of oil price – Analyst

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Regardless of the market price for oil, revenues from production will always be significant. According to an analyst in the industry, the going price per barrel therefore has little direct impact on the extent of corruption. But a weak regulatory...
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Analyst says Guyana gov’t “sending right signals” but issue of transparency looms

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A political risk analyst in the oil and gas industry said today at an energy conference in California that while the Guyana Gov't is "sending right signals" and appears to be “pro-business” the critical issue of transparency in the South American...
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Experts say setting up right regulatory framework reduces risk for Guyana, oil companies

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Guyana’s success as an oil producing nation will depend heavily on the regulatory framework that is established and the transparency of agencies overlooking the operations of the oil and gas sector. Experts attending an energy conference in the US...
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Pressing issues addressed at opening of 26th La Jolla Energy Conference in California

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The Institute of the Americas 26th annual La Jolla Energy Conference got underway today in San Diego, California marking the beginning of two days of dialogue and debate on the future of sustainability and energy policy in the Americas. Brazil...
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ExxonMobil provides support for relief efforts in regions affected by flood in Guyana

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ExxonMobil on Wednesday handed over a cheque in the amount of US$25,000 from the ExxonMobil Foundation to the Guyana Civil Defence Commission (CDC), the agency spearheading the coordination of relief efforts following widespread flooding in remotes areas in the South...
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Greatest benefit to Guyana from oil is in value-added activities – GOGA

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The Guyana Oil and Gas Association (GOGA) believes the greatest benefit from a country’s natural resources lies in the ability to add value, and this must be carefully considered in the case of oil production, set to begin in...
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Global offshore mooring systems market expected to reach USD1.32B by 2025

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Increasing oil and gas production and exploration from the offshore fields and the rising development of shale drilling regions are expected to drive the demand for the offshore mooring market. Innovation of new technologies for development of new systems in...
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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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