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High expectations of jobs created riots in African territories – Anthony Paul

OilNOW -
Author of Guyana’s draft local content policy framework, Anthony Paul, is warning that expectations of large-scale job creation in the South American country’s emerging oil and gas sector could lead to serious challenges down the road. Mr. Paul, a UNDP...
News

First oil flows from Brazil’s giant Libra Field

OilNOW -
First oil has flowed from Brazil’s giant Libra field operated by Petrobras and a consortium that includes Total, Shell and China’s CNPC and CNOOC, the companies said on Monday. Libra, which has recoverable volumes estimated by oil regulator ANP at...
News

Guyana plans to revise PSA model to ensure nation gets fair share of resource wealth – Finance Minister

OilNOW -
The Guyana Government has announced a revision of the way it conducts business with Oil and Gas Exploration Companies, through its use of Production Sharing Agreements (PSA). The announcement was made on Monday as Minister of Finance, Winston Jordan, presented...
News

Oil & gas to lead Guyana foreign investments in 2018

OilNOW -
Still in its infancy, Guyana’s Oil and Gas Industry is poised to lead Foreign Direct Investment (FDI) in the South American country come next year - a projection made by Finance Minister Winston Jordan, when he today presented the...
News

Gov’t minister supports signing bonus, advance borrowing

OilNOW -
While not confirming whether or not a signature bonus was paid to the Guyana government when a new Production Sharing Agreement (PSA) was signed in 2016 with US oil major ExxonMobil, Minister of Public Security, Khemraj Ramjattan, says he would...
News

Using supply base in Guyana would be ExxonMobil’s first preference – CLDB head

OilNOW -
ExxonMobil, its contractors and sub-contractors would be looking as a first preference, to have materials and services needed for exploration and production activities sourced from a supply base in Guyana since this is a more economical option. Project Director at...
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Foreign companies bidding for contracts in Guyana with no local content input – GCCI

OilNOW -
President of the Georgetown Chamber of Commerce and Industry (GCCI), Deodat Indar, says a number of foreign companies have been registering in Guyana and bidding for contracts with no input from the local business community. He told reporters at a...
News

Petroleum Act, scientific institute and offshore logistics base among top priorities for 2018 – Trotman

OilNOW -
Guyana will be looking to ramp up its preparation for first oil in 2018 with a number of key initiatives being placed on the front burner according to the country’s Minister of Natural Resources, Raphael Trotman. Speaking at a symposium...
Industry Insight

“Elephant Man” says Guyana-Suriname Basin has big potential

OilNOW -
Canadian oil and gas consultant Rob Strong is adamant that much more oil will be found in the Guyana-Suriname Basin, in keeping with his view that the world class Liza discovery is like an elephant; and “elephants don’t travel...
Discoveries

Partners fast-tracking second Liza FPSO

OilNOW -
ExxonMobil is fast-tracking a second floater project for Guyana’s Liza area development amid suggestions that the next unit will be significantly larger than the 120,000-barrels-per-day Liza-1 unit. According to an Upstream report, plans for a second floating production, storage and...
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Guyana's Oil LedgerKemol King -

Guyana oil fund swells past US$3.6 billion

Guyana received nearly US$213 million (GY$$44 billion) in oil revenues in August, according to the latest Natural Resource Fund...

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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