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Ramps had threatened Guyana customs regulator with lawsuit over $20M fine

Kemol King -
After being fined GY$20 million for breaching customs law earlier this year, Ramps Logistics had threatened the Guyana Revenue Authority (GRA) with a lawsuit if it did not return the fine. The letter dated March 4, 2022, from its attorney-at-law,...
News

Exciting discoveries off Africa result in oil block awards to Shell, APA by Uruguay

OilNOW -
Uruguay announced on Thursday that it awarded three of six oil blocks on its continental shelf, through its state energy company, National Administration of Fuels, Alcohols and Portland (ANCAP). ANCAP said the winning bids for the blocks are Block OFF-2: Shell, which...
News

City Chamber says ‘rent-a-citizen’ tactics run counter to local content law

OilNOW -
The Georgetown Chamber of Commerce and Industry (GCCI) says disapproves "rent-a-citizen" and "fronting" tactics potentially being used by companies operating in Guyana's oil and gas sector, because such tactics run counter to the spirit of Guyana's local content legislation.  In...
News

Ramps says legal action on the cards over local content spat

Kemol King -
Ramps Logistics’ chief executive, Shaun Rampersad came out in defense of the efforts it made to receive a Guyana local content certificate, including divestment of 51% of the company to a man with Guyanese citizenship named Deepak Lall. This...
Opinions

Guyana and Suriname: How access to capital can transform frontier energy markets

OilNOW -
By Arthur Deakin - OilNOW Back in 2010, Guyana and Suriname were not known for their hydrocarbon reserves. But now, both (neighboring countries) have discovered more than 17 billion barrels of oil equivalent and gas reserves that exceed 30 trillion...
News

No gas production ramp up in T&T anytime soon, outlook grim – Ramnarine

OilNOW -
Trinidad and Tobago Prime Minister, Dr. Keith Rowley has signaled the twin island Republic’s intention to boost its natural gas production significantly before the end of this year. But the possibility does not exist, according to the former Minister...
News

Ramps fails in bid to operate as local company, says it ticked all the boxes

OilNOW -
Ramps Logistics Guyana Inc. has brought forward a claim that the company was denied its Local Content certification even though it met all the requirements set. “The recently passed Local Content Act stipulates that a company must have a local content certificate...
News

Exxon hits back at Biden, says it invests more than any other supermajor

Shikema Dey -
Like the rest of the world, American consumer pockets are under pressure by soaring fuel prices – a direct result of Russia’s invasion of Ukraine. Accusations of price-gouging and deliberately staying away from new well drilling have abounded in the...
News

Petrobras hiking Brazil wholesale diesel price 14.3%, gasoline 5.2%

OilNOW -
(S&P Global Platts) Petrobras will raise wholesale diesel and gasoline prices, effective June 18, in the latest increase under the company's controversial import-parity pricing policy and the first adjustment since Brazil's Congress passed several measures aimed at reducing fuel...
News

Saipem bags US$25M contract to engineer Brazil-bound FPSO

OilNOW -
Italian oil services company, Saipem, announced a US$25 million contract from floater operator, BW Offshore Limited, to provide early-stage engineering services on an oil production vessel for Shell’s Gato do Mato oil and gas field in Brazil. BW issued a limited notice to proceed (LNTP)...
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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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