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IMF team in Guyana advising on Fiscal Responsibility Framework

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Guyana is continuing to receive support from international organizations in the development of policies to successfully manage the emerging Oil and Gas sector, with the recent assistance coming from the International Monetary Fund. The IMF has been in the South...
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Guyana will be expected to publicly disclose contracts under EITI requirements

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As Guyana seems well on its way to becoming the 53rd country in the world to attain Extractive Industry Transparency Initiative (EITI) candidacy, a leading adviser supporting this process says implementing countries are now required to do much more in...
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ExxonMobil sues U.S over Russian deal

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ExxonMobil said Thursday it has launched a legal challenge to a finding by the Treasury Department’s Office of Foreign Assets Control (OFAC) that it violated U.S. sanctions against Russia in 2014 when the company followed authoritative and specific guidance from...
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Petroleum Commission set to play critical role in Guyana oil & gas industry

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Once established, the Petroleum Commission of Guyana will assume a lead role in monitoring and regulating the efficient, safe, effective and environmentally responsible exploration, development and production of petroleum in the South American country. The Commission will be tasked with...
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SBM Offshore, Repsol to get $247M in insurance settlement

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(Reuters) - Dutch oil industry services group SBM Offshore and Spanish energy firm Repsol will share an insurance payment of $247 million, less legal costs, related to a troubled Norwegian offshore project, SBM said on Monday. SBM said it had...
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Hess gets G4 core level ranking for sustainability reporting

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Hess Corporation’s 20th annual sustainability report has achieved the G4 Core level for sustainability reporting under the Global Reporting Initiative (GRI) methodology. GRI is an independent organization that provides the world’s most widely recognized sustainability reporting and disclosure standards....
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Stena aiming to build local capacity, “promote from within” – Regional Manager

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Guyanese working on the Stena Carron Drillship offshore the South American country can expect to move up into higher-level positions as they acquire more skills, in keeping with the UK-based company’s policy of ‘promote from within’. This is according to...
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Guyanese invited to share views on landmark Petroleum Bill

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Authorities in Guyana are inviting members of the public to share their views on the Petroleum Commission of Guyana Bill 2017, to help aid in the work of a Parliamentary Special Select Committee currently studying the proposed legislation. Clerk of...
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Ecuador unable to meet OPEC curbs; says it needs to pump more oil

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Ecuador has become the first country to publicly admit it will not meet OPEC’s production curbs, saying it needs to pump more oil to address its fiscal deficit. The South American country’s promised cut of 26,000 barrels of oil a...
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OilNOW EXCLUSIVE: Learn more about what TechnipFMC is undertaking offshore Guyana

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TechnipFMC has been awarded three contracts by ExxonMobil for development of the Liza field offshore Guyana. Carlos Latorre, International Service Manager, spoke exclusively with OilNOW and had this to say... https://www.youtube.com/watch?v=fWMCjZv075Q    
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Liza Unity is world’s first FPSO to receive ABS SUSTAIN-2 Notation

The Liza Unity has become the first floating production, storage and offloading (FPSO) vessel to receive the SUSTAIN-2 notation...

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