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Guyana’s draft Sovereign Wealth Fund legislation to face public scrutiny – Finance Minister

OilNOW -
Guyanese will soon have an opportunity to scrutinize draft legislation being formulated for the establishment of a Sovereign Wealth Fund (SWF) that will play a major role in the management of significant revenues expected from oil production in the...
News

ExxonMobil says it is eager to partner with Guyanese businesses

OilNOW -
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...
News

ExxonMobil confirms award of contracts to SBM for Liza project in Guyana

OilNOW -
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...
News

McDermott awards major Trinidad & Tobago contract to PJ Valves

OilNOW -
PJ Valves (PJV) and PJ Piping (PJP), the specialist manufacturers and suppliers of valves and piping components for the global energy industry, have been awarded a major contract by McDermott International Inc. to supply valves and piping elements for...
News

Hess to sell enhanced oil recovery assets in Permian Basin

OilNOW -
Hess Corporation said on Monday it has entered into an agreement to sell its interests in enhanced oil recovery (EOR) assets in the Permian Basin to Occidental Petroleum Corporation (NYSE: OXY) for a total consideration of $600 million, effective...
News

ExxonMobil makes final investment decision for Liza phase-1 development

OilNOW -
Exxon Mobil Corporation said Friday it has made a final investment decision to proceed with the first phase of development for the Liza field, one of the largest oil discoveries of the past decade, located offshore Guyana. The announcement comes...
Editorial

How oil revenue will be used in Guyana remains unclear

OilNOW -
With just 3 years remaining before Guyana produces first oil, the country’s government is yet to roll out a clear development plan outlining how projected revenues from oil production and royalties will be used. With weak infrastructure and deficiencies in...
News

Review uncovers multiple shortcomings in Guyana’s draft local content framework

OilNOW -
A review of Guyana’s draft local content policy framework by members of the business community has identified several shortcomings which it believes put Guyanese business operators at a disadvantage. The review, done by the Georgetown Chamber of Commerce and...
News

Local content expert to work with Guyanese private sector

OilNOW -
Business operators in Guyana eager to get involved in the country’s emerging oil and gas sector will soon benefit from the input of a local content specialist. OilNOW understands the Guyana government is hiring the expert based on the completion...
News

Ramnarine weighs-in on Chevron’s exit, questions value of Shell marketing LNG

OilNOW -
Reports surfaced last week that US energy company, Chevron was winding down its operations in Trinidad and Tobago.  The company has entered an agreement to sell all its shares in Chevron Trinidad and Tobago Resources (CTTR) to Shell’s BG...
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Liza Unity is world’s first FPSO to receive ABS SUSTAIN-2 Notation

The Liza Unity has become the first floating production, storage and offloading (FPSO) vessel to receive the SUSTAIN-2 notation...

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