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Countrywide outreach on transparency in the extractive industry planned in Guyana

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The Guyana Extractive Industries Transparency Initiative (GYEITI) will be conducting a series of meetings across the country this month aimed at providing the public with information about EITI and how its implementation can benefit the South American country. With oil...
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Iran, Total sign historic gas deal

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(Offshore Engineer) Iran signed a new contract to develop its South Pars gas field - the largest gas field in the world - with France's Total and China's CNPC on Monday. The move will be the first major Western energy...
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Guyanese abroad with knowledge in oil & gas urged to return home

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The Government of Guyana is appealing to Guyanese living abroad with knowledge and expertise in the oil and gas industry, to return home. Guyana’s Minister of Natural Resources, Raphael Trotman, said these persons are greatly needed to share their expertise in...
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Tullow cuts debt, raises profit under new CEO

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(Reuters) Tullow Oil reduced debt in the first-half of 2017 and reported a rise in gross profit under its new CEO, Paul McDade, but a recent drop in oil prices means the company’s bottom line remains under threat. Tullow has...
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Saipem secures $500M in contracts, FPSO deployment

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Saipem has been awarded a new E&C Offshore contract by Saudi Aramco for Engineering, Procurement, Construction, Installation (EPCI) activities and Trunklines & Installation (T&I) works in Saudi Arabia, under the Long-Term Agreement in force, renewed in 2015 until 2021. The...
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BP takes $750 million hit for Angola exploration write-off

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(Reuters) BP will book a $750 million charge for unsuccessful exploration campaigns in Angola, the company said on Thursday, a write-off that will weigh on its second-quarter results. The British oil and gas company said it has decided to relinquish...
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“We are willing to learn, build capacity” for oil & gas – Guyanese manufacturing body

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The head of a body that represents manufacturers in Guyana says businesses are eager to learn and build capacity in order to capitalize on opportunities in the oil and gas sector. President of the Guyana Manufacturing and Services Association (GMSA)),...
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Anadarko caps more than 6,000 oil and gas flowlines

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Anadarko Petroleum said late Friday that it has tested more than 4,000 active oil and gas lines and plugged another 2,400 inactive ones per a state order issued after a fatal home explosion in Firestone in April, the Denver...
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Guyana not yet prepared to disclose identities of oil negotiators – State Minister

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The Guyanese public is no closer to knowing the full identities of those who have been negotiating terms and conditions on their behalf for development and production of offshore oil resources.  The country’s Minister of State, Joseph Harmon, told...
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Head of Guyana regulatory body should be appointed through political consensus – IDB specialist

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As Guyana prepares to reap the benefits from oil production set to begin in 2020, a key Inter-American Development Bank (IDB) energy specialist working on the Extractive Industries Transparency Initiative (EITI) is warning the country to be mindful of expenditure...
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bp makes 10th discovery of the year, its largest in 25 years

bp announced a major oil and gas discovery at the Bumerangue prospect in deepwater offshore Brazil, its tenth discovery...

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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