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Norway awards 33 oil firms a record number of exploration blocks

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(Reuters) Norway awarded 33 oil companies a record 83 blocks to explore for petroleum resources in mature areas of the Norwegian continental shelf, the country’s oil and energy minister said on Jan. 15. A total of 38 oil companies had...
Exploration

Shift in equity financing, farm-in timetable won’t affect CGX’s first well

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CGX Energy Inc. and Frontera Energy Corporation say that a pushing back of their equity financing and joint venture farm-in timeline to February 6. 2019 will not affect the drilling schedule for Utakwaaka-1 exploration well offshore Guyana in November. The...
News

TechnipFMC’s Chairman calls it a day

OilNOW -
ExxonMobil Guyana Prime Contractor – TechnipFMC, announced on Wednesday that the company’s Executive Chairman, Thierry Pilenko has decided to retire from the Board of Directors, effective May 1, 2019, after the Company’s Annual General Meeting. Mr. Pilenko was appointed Executive...
News

Private refiners in Guyana will have to buy oil at market cost

OilNOW -
The Government of Guyana will not sell oil at a subsidized cost to any private investor who undertakes to build a refinery in the South American country. “Anyone who wishes to open a refinery can do so but they will...
News

Guyana should seek broader alliance with US military to ward off threat from ‘desperate Venezuelan regime’ – Former Minister

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A former Guyanese government official believes that a sustained programme to facilitate military tactical support and coordination between Guyana and the United States of America would help to deter further aggression from Venezuela. Former Minister of Natural Resources and the...
News

Venezuela becoming increasingly aggressive in push for more territory

OilNOW -
Reports indicate that Venezuela has signaled its intention to remap its Caribbean oil and gas prospects which is a move that could further escalate rising tensions between that country and neighbouring Guyana, which has of late become an oil...
News

CNOOC Limited’s Egina Field commences production

OilNOW -
CNOOC Limited, a 25 percent stakeholder in Guyana’s prolific offshore Stabroek Block along with ExxonMobil (45 percent) and HESS (30 percent), announced on January 2, 2019 that its Egina Field, located in deepwater offshore Nigeria, has commenced production. The company...
News

Guyana’s tenth oil discovery makes her a future Latin American powerhouse

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(Merco Press) Due to ExxonMobil’s run of success in oil exploration offshore Guyana, the country is on a path to becoming a Latin American powerhouse, Wood Mackenzie said. The super-major announced its tenth Guyana discovery this week, increasing the...
News

‘Political developments’ won’t derail Guyana’s O&G preparations – Persaud

OilNOW -
Guyana's former Minister of Natural Resources and the Environment Robert Persaud believes that the current trajectory that the country is on with regards to its oil and gas preparations will be maintained notwithstanding the recent collapse of the coalition...
News

“Not a squeak from CARICOM” on Venezuela’s latest threat to Guyana’s sovereignty – Persaud

OilNOW -
Almost three days after Venezuela’s navy intercepted a survey vessel contracted to ExxonMobil operating in the western portion of Guyana’s Stabroek Block, the 15-member CARICOM body of which Guyana is a founder-member, is yet to issue a statement on...
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Special Editorial: Maduro’s bully tactics won’t get him another face-to-face with Ali 

The following is an opinion editorial by Shikema Dey, Research and Content Developer at OilNOW, and a seasoned Journalist...

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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