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Engineering for Liza FPSO advancing – SBM Offshore

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The engineering work for the Liza Destiny FPSO is in an advanced stage and is being conducted from four different places as assembly of the vessel that will bring first oil for Guyana continues at the Keppel Shipyard in...
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Total pays $1.45 billion for Abu Dhabi offshore oilfield stakes

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Total SA will pay $1.45 billion for stakes in two offshore oil fields in Abu Dhabi, extending a decades-long partnership as the Middle Eastern emirate seeks to expand production capacity. According to a Bloomberg report, the Paris-based company will take a...
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Crisis-hit Venezuela could soon tip the oil market ‘decisively into deficit,’ IEA says

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(CNBC) Venezuela is likely to remain the biggest risk factor among leading oil producers for some time to come, according to the latest monthly report from the International Energy Agency (IEA). An attendant sits at a closed Petroleos de Venezuela SA...
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Dominican Republic to join Caribbean energy exploration rush

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The Dominican Republic expects to draw interest from energy titans BP Plc and Exxon Mobil Corp. when it opens the country to natural gas and oil exploration for the first time later this month, joining a push by governments across the Caribbean...
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Tullow PSA: Guyana share of profit oil increases with production

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The Production Sharing Agreement (PSA) between Guyana and Tullow Oil in partnership with Eco Atlantic outlines a 1% royalty and a rolling percentage share of profit oil which begins at 50% and gradually increases to 60% for the South...
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Open remaining oil blocks to competitive auction or keep them – Jagdeo

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Leader of the Opposition and former President of Guyana, Bharrat Jagdeo, is calling for the implementation of competitive bidding for remaining oil blocks or for them to be kept for future generations. Responding to questions from the media, the Opposition...
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TT energy sector being made into ‘bogey man’ – fmr minister

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The energy sector of Guyana’s closest Caribbean island neighbor - Trinidad and Tobago - is traversing a slippery slope according to a former energy minister in the twin island republic. He believes a change in direction is urgently needed...
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Oil production key in catapulting Ghana to one of world’s fastest growing economies

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While seen as a curse by some, oil production and its spin-off effects can positively impact developing countries and change their fortunes for the better. The New York Times in a March 10 report stated that as recently as the...
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US Ambassador wealth fund comments “misinformed” – Finance Ministry

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Guyana’s Ministry of Finance describes as “misinformed” some of the views expressed in an Op-Ed written by US Ambassador to the South American country, Perry Holloway, which called for prioritization of a Sovereign Wealth Fund (SWF). In a statement on...
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Oil revenue will fuel construction boom – Business Minister

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Massive cash injection from oil production is expected to have a multiplier effect on the Guyana economy that will fuel a construction boom and trigger growth in a number of other sectors. This is the view of Guyana’s Business...
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Europe took all of Guyana’s Golden Arrowhead oil cargoes lifted in September

Europe received all four cargoes of Golden Arrowhead crude oil lifted from ExxonMobil’s Yellowtail project in September, according to...

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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