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US$1.5M financing secured for completion of Guyana’s Green State Development Strategy document

OilNOW -
The Ministry of the Presidency in Guyana has secured US$1.5 Million (GY$ 300 Million) to finance the development of the Green State Development Strategy (GSDS). This financing was approved by the Steering Committee of the Guyana REDD+ Investment Fund...
Exploration

Supermajor Chevron eyeing Guyana prospects

OilNOW -
US supermajor Chevron is looking to participate in offshore activities in Guyana, making it the third oil major that views the South American country as a favourable location. Total recently moved towards entering an agreement with Eco Atlantic on the...
News

All eyes on Suriname as success offshore Guyana raises prospects for the basin

OilNOW -
A fifth oil discovery announced last week by ExxonMobil off the Guyana coast has further increased expectations that similar play could be expected in neighbouring Suriname as Tullow Oil farms into the Araku prospect on Block 54. Already, a 3D...
News

WorleyParsons enters UK North Sea market with $228M acquisition

OilNOW -
Australian engineering firm WorleyParsons Ltd (WOR.AX) said on Monday it would buy the former upstream oil and gas assets of Britain’s Amec Foster Wheeler Plc AMFW.L for 228 million pounds ($298.22 million), marking its entry into the UK North...
News

Guyana collected close to US$4.4M in revenue for oil & gas activities to date for 2017

OilNOW -
Guyana’s Minister of Finance, Winston Jordan, disclosed on Monday that the country has collected around US$4.4M (G$900 million) in revenue for the first half of 2017 from oil and gas related activities. Mr. Jordan was at the time responding to a...
News

Azerbaijan willing to assist Guyana with training, capacity building for oil & gas

OilNOW -
Guyana and Azerbaijan are looking to build stronger relations and it is hoped that this partnership would allow for mutually beneficial outcomes, and support for the effective management of Guyana’s oil and gas sector. Last week, the Ambassador of the Republic of...
News

University of Guyana looking to boost capacity for training in oil & gas

OilNOW -
The University of Guyana is looking to build its capabilities in the emerging oil and gas sector through partnerships with other educational institutions in the region and even further afield. This was disclosed by Vice Chancellor of the University of Guyana,...
News

Oil’s stint above $50 ends

OilNOW -
(Bloomberg) Was $50 a barrel for oil just a passing fancy? West Texas Intermediate, the U.S. benchmark, skyrocketed above $52 a barrel at the end of September, teasing investors. But the rally didn’t last long. After hedge funds sliced their...
News

Statoil enters solar industry with 40% share in 162MW asset in Brazil

OilNOW -
Statoil has signed an agreement to acquire a 40% share in the construction ready 162MW Apodi solar asset in Brazil from Scatec Solar, a Norwegian independent solar power producer. The project will provide approximately 160,000 households with electricity. Statoil...
Discoveries

Further drilling will determine size of Turbot discovery – ExxonMobil

OilNOW -
US super-major ExxonMobil will move to drill a second well on the Turbot discovery next year which will help to determine the volume of oil contained in the reservoir. “We are planning to do an additional well on the Turbot...
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Moonilal appoints new boards for Trinidad’s state energy companies

Trinidad and Tobago's Energy Minister Roodal Moonilal on Monday issued letters of appointment to the new boards of directors...

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