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Venezuela vote turnout was 32% by 6pm

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Participation in Venezuela’s controversial presidential election on Sunday was at 32.3 percent by 6 p.m. as most polling stations began closing, according to an election board source. Turnout at Venezuela’s last presidential election in 2015 was 80 percent, but the...
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Venezuelans go the polls in an election widely seen as a foregone conclusion

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(BBC) After years of turmoil which at one point saw almost daily street protests, President Nicolas Maduro is looking to consolidate his power. The opposition, however, refuses to even take part. Who's going to win? Most analysts agree that President Maduro is...
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Trinidad ‘no longer attractive’ for new petrochemical projects – CNC CEO

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Trinidad and Tobago is no longer an attractive place for petrochemical companies to launch new processing plants, Loop reports. Speaking at a media briefing in Point Lisas on Thursday, CEO of the Caribbean Nitrogen Company Limited (CNC), Jerome Dookie, said...
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Venezuela’s oil meltdown is getting worse

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A rush of creditors trying to seize assets has disrupted Venezuela’s oil exports at a time when they already are plunging Death spiral is an overused term, but it is justified when describing Venezuela’s oil industry right now. Energy consumers...
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Curacao court authorizes ConocoPhillips to seize $636M in PDVSA assets

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A Curacao court has authorized ConocoPhillips to seize about $636 million in assets belonging to Venezuela's state oil company PDVSA due to the 2007 nationalization of the U.S. oil major's projects in Venezuela. The legal action was the latest in the Caribbean to...
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Guyanese officials to visit Mexico in ‘technical exchange’ mission on petroleum

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Four officials from Guyana’s Ministry of Natural Resources (MNR) will soon be visiting Mexico as part of a ‘technical exchange’ exercise with the Mexican Institute of Petroleum (IMP). The South American country’s Natural Resources Minister, Raphael Trotman met with the...
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Suriname has long history of respecting oil agreements – Staatsolie CEO

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Staatsolie Maatschappij Suriname N.V Managing Director and Chief Executive Officer, Rudolf Elias, says the Dutch-speaking South American country has a long history of respecting agreements with International Oil Companies (IOCs) and this continues to play a key role in...
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Conoco moves to take over Venezuelan PDVSA’s Caribbean assets

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(Reuters) - U.S. oil firm ConocoPhillips (COP.N) has moved to take Caribbean assets of Venezuela’s state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three...
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Guyana expected to become less dependent on donor funds when oil begins to flow

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Guyana is less than two years away from becoming a major oil producing economy and Chief Executive Officer of the CARICOM Development Fund (CDF), Rodinald Soomer, said the imminent revenue expected from this development could change the South American country’s...
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Robust systems to fight financial crimes, corruption vital in oil producing countries

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It is absolutely critical that countries in the region put robust systems in place to protect them from acts of financial crimes and corruption. This was the hallmark of the just concluded Regional Judges and Prosecutors workshop, organized by...
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US$2.5 billion in oil revenue to support Guyana’s 2025 budget

The Guyana government will withdraw US$2.5 billion in oil revenue to support its US$6.628 billion (GY$1.382 trillion) budget for...

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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