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Oil will convert Guyana’s deficit to surplus – IMF

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The International Monetary Fund (IMF) said that Guyana’s external outlook remains favourable and is expected to improve with the start of oil production. The IMF Staff Country Report for Guyana, released on June 28, says the commencement of oil production...
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IDB willing to fund creation of “proper institutions” in Guyana for oil & gas

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The Inter-American Development Bank (IDB) is open to providing technical and financial assistance to Guyana for the creation of institutions needed to support the country’s emerging oil and gas sector. A team of officials from the Extractive Industries Transparency Initiative...
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Report finds offshore recovery still held back by oil price

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(Offshore) Westwood Energy’s updated World Oilfield Equipment Market Forecast projects higher offshore expenditure between now and 2021. The analyst now predicts total investments of $254 billion compared with $224 billion in its previous forecast. It cautions, however, that the market will...
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Shell, Exxon to appeal latest Groningen gas production cap

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(Reuters) A joint venture between Royal Dutch Shell and Exxon Mobil said on Wednesday it would appeal against a Dutch government plan to lower a production cap at the Groningen natural gas field by a further 10 percent. The Dutch...
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New helicopter base under construction for Bristow in UK

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Construction has begun on a new HM Coastguard search and rescue (SAR) helicopter base at Lydd Airport in the UK which will be operated by Bristow Helicopters. The £7.8 million project will create a new focal point for the region’s...
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ExxonMobil, Hess and Statoil farm into Suriname blocks

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Suriname state oil company Staatsolie and the consortium consisting of ExxonMobil, Hess and Statoil have reached an agreement regarding a PSC for Block 59 offshore Suriname. At the same time, an agreement was reached with Statoil for Block 60. The...
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Alaska court to rule on oil wealth payments to state residents

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An Alaska lawmaker is making one last legal push to put about $1,000 back in the hands of nearly every state resident for their share of Alaska’s oil wealth. Sen. Bill Wielechowski is scheduled to argue Tuesday to the Alaska...
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ExxonMobil says it is eager to partner with Guyanese businesses

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ExxonMobil announced today the establishment of the Centre for Local Business Development in Georgetown, Guyana, and signaled its commitment to work with the country’s business community. The centre will assist small and medium-sized Guyanese businesses with building their capacity and...
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BP produced over 12 billion barrels of oil in 40yrs of production at Prudhoe Bay

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The BP-operated Prudhoe Bay oil field in Alaska has reached 40 years of production, a milestone highlighting its historic contribution to US energy security and ongoing role as a key economic engine for the region. BP said in a press...
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ExxonMobil confirms award of contracts to SBM for Liza project in Guyana

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ExxonMobil has formally confirmed the award of contracts to SBM Offshore for the next phase of the Liza project in Guyana. Under these contracts, SBM Offshore will construct, install, lease and operate a Floating Production, Storage and Offloading Vessel...
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Major energy and infrastructure projects to define Guyana’s next few years

Over the next few years, President Irfaan Ali’s second term will see Guyana advancing key projects that place energy...

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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