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Guyanese legislators to consider Commission to collect oil revenues

OilNOW -
Guyana today moved one step closer to tightening its legislative regime governing the oil and gas sector, when Minister of Natural Resources, Raphael Trotman, presented to the National Assembly, the Petroleum Commission of Guyana Bill 2017–to provide for the...
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Small oil spills occur in T&T due to equipment fatigue – Coastal Dynamics Executive

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With an oil and gas industry in Trinidad and Tobago that is well over 100 years old, an environmental specialist from the twin island republic believes that the absence of a major catastrophic disaster over the years is commendable,...
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Oil hovers near $46 as shale revival cancels out OPEC efforts

OilNOW -
NEW YORK (Bloomberg) -- Oil hovered around $46/bbl in New York, back to levels last seen before the OPEC deal, as the shale revival appears to be making the group’s cuts ineffective. After dipping below $44 Friday, futures pared some of...
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New regulatory body could oversee implementation of Guyana local content policy

OilNOW -
A new regulatory body is being proposed by authorities in Guyana to oversee the implementation of a Local Content, Capacity Development and Value Addition Policy Framework.  The draft policy document, developed by the Ministry of Natural Resources, is currently...
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ExxonMobil targets mid-year sanction for Liza first phase

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“When you think about the full scope of our development in Guyana, and clearly, the higher the resource density, the more profitable it's going to be..." - Jeff Woodbury US supermajor ExxonMobil plans to sanction the first phase of the development...
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In excess of 1,340 direct jobs could be created over lifetime of Liza phase 1 project

OilNOW -
More than 1,340 direct jobs could be created over the lifetime of the Liza phase 1 development project which will see a proposed 17 wells being drilled, equipment installed and oil production undertaken in the Stabroek Block, 120 miles...
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Oil prices drop below $48; first time in over a month

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(CNBC) Oil prices sharply extended losses just before Tuesday's settlement, with U.S. crude breaking below $48 a barrel for the first time in more than a month. U.S. West Texas Intermediate futures and international benchmark Brent crude were both down...
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T&T oil spill reaches Venezuela; former energy minister chastises Petrotrin

OilNOW -
An oil spill which occurred at Trinidad and Tobago’s state oil company Petrotrin on April 23 has now spread to the Venezuelan maritime boundary. The country’s Ministry of Energy says it is tracking the trajectory of the oil spill through...
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Consultant advising on oil refinery will arrive in Guyana May 17 to present study

OilNOW -
The consultant hired to advise the Guyana government on the economics of a refinery is scheduled to arrive in the South American nation on May 17. A number of players in the industry have been closely watching this development. Trinidad...
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Trinidad’s Petrotrin investigating oil spill

OilNOW -
Trinidad and Tobago State owned Trinihas established a team to investigate the cause of the oil spill where hundreds of barrels of black crude flowed into the Gulf of Paria from a leak at the Pointe-a-Pierre refinery which occurred...
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Guyana stands out globally; will maintain cost competitiveness despite expected drop in future oil prices – Norway firm

South America's newest oil producer, Guyana, continues to stand out as a highly competitive destination for deepwater projects around...

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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