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Final draft local content policy framework document with Guyana authorities

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The final draft document outing Guyana’s local content policy framework has been handed over to authorities and an implementation plan is expected to be crafted soon. Author of the document and Policy Advisor to Guyana’s Natural Resources Ministry, Regional Energy...
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Bigger investments in Guyana highest learning institution needed – VC

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The University of Guyana (UG) is appealing for bigger investments in order to effectively ‘prepare thousands of Guyanese’ for the country's emerging Oil and Gas (O&G) sector. So says the institution’s Vice Chancellor, Professor Ivelaw Griffith, who this past week...
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Houston firm sues ex Venezuelan oil czar Ramirez over bribes

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(ABC News) Venezuela's former oil czar Rafael Ramirez was sued Friday by a Houston company that alleges he was behind demands for at least $10 million in bribes to sign off on deals to sell its energy assets in...
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CGX contract outlines 53% profit oil, 1% royalty for Guyana

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The petroleum agreement between the Government of Guyana and Canadian-based CGX Resources Inc. (CGX Energy) stipulates 53 percent profit oil and 1 percent royalty for the South American country in the event the company makes a discovery and moves...
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Guyana President downplays ‘renegotiation’ of ExxonMobil contract

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Guyana’s Head of State, President David Granger has downplayed the notion of renegotiating the Production Sharing Agreement between the South American country and ExxonMobil affiliate - Esso Exploration and Production Guyana Limited. Speaking to members of the media on Wednesday...
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Maduro claims Venezuela lifted oil production by 250,000 Bpd

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(OilPrice) While analyst estimates and official figures show that Venezuela’s crude oil production continues to plummet amid a severe economic crisis and cash crunch, Venezuelan President Nicolas Maduro—true to his rhetoric--said on Thursday that the country’s oil production had increased...
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Largest oil and gas lease sale in U.S. history set for March

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The U.S. Department of the Interior will offer 77.3 million acres offshore of Texas, Louisiana, Mississippi, Alabama and Florida for oil and gas exploration and development. This will be the largest such lease sale in the country's history. It will...
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Oil and gas sector recovery ‘not yet certain’ says OCBC CEO

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The risk that banks face within the oil and gas sector is currently "contained" but the outlook for the industry remains far from certain, according to the CEO of Singapore's oldest bank. OCBC's Samuel Tsien said that rising oil and gas prices indicate...
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Developing Guyana O&G sector without civil society foolhardy – Redford

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Civil Society’s input – informed or not - ultimately guides the development of an emerging oil and gas industry, and as such, in a Guyana context, there is need for a greater embrace of collaboration between the industry and...
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Petroleum Commission will not collect oil revenue – MNR

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Guyana’s Ministry of Natural Resources (MNR) said on Thursday that the country’s tax agency; Guyana Revenue Authority (GRA), will be responsible for the collection of revenue associated with oil production, and not the soon to be established Petroleum Commission. In...
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‘Lil Red Community Centre’ commissioned through partnership with Food for the Poor Inc. and SBM Offshore Guyana

Residents of Little Red Village on Guyana’s Essequibo Coast now have access to a new community hub following the...

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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