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Guyana’s windfall from oil production is not fake news – US Ambassador

OilNOW -
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

OilNOW -
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

OilNOW -
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

OilNOW -
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

OilNOW -
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

OilNOW -
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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Venezuela’s oil-backed cryptocurrency will be convertible to Russian rubles – Maduro

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(RT) The so-called ‘petro’ digital currency, which was launched by Venezuela last month, will be traded for several global currencies, including the Russian ruble. “Starting March 23, all legal and physical entities will be able to purchase the petro directly…...
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36 companies set to bid for blocks in Mexico’s next round

OilNOW -
(Hart Energy) An opportunity to develop and produce oil from the Burgos, Tampico-Misantla-Veracruz and Cuencas del Sureste (Southeast) basins has attracted three dozen companies—including the U.K.’s BP, Capricorn Energy and Premier Oil—to Mexico. Mexico’s National Hydrocarbons Commission (CNH) said 36...
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TotalEnergies ready to spend ‘tens of millions’ for seismic, geophysical surveys in Guyana’s S4 Block – Exploration VP 

With the Petroleum License signed, TotalEnergies is gearing up to expend “tens of millions” in seismic and geophysical surveys...

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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