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Exxon awards contract extension for Maersk Viking drillship

OilNOW -
Maersk Drilling has been awarded a contract extension for the ultra-deepwater drillship Maersk Viking, by oil major Exxon Mobil. The estimated value of the contract extension is $22.5 million, with a duration of 150 days. Maersk Viking has been operating...
News

UK Prof. to Guyanese worried about use of oil revenues: “You have the right to vote”

OilNOW -
As Guyanese continue to ask questions about how best they can ensure revenues collected from oil production is not misused, a visiting UK professor reminded over a hundred persons gathered at a forum last week, that they “have the...
News

Venezuelan oil executive arrested in corruption probe

OilNOW -
(Reuters)Venezuela has arrested the manager of the Petropiar heavy crude upgrader, owned by state oil company PDVSA and US major Chevron, for alleged "irregularities" in contracts awarded in the oil-rich Orinoco Belt. Francisco Velasquez was detained on 13 May and...
News

Guyanese and Dutch company forging ahead with new partnership in oil & gas sector

OilNOW -
Guyanese firm, Ground Structures Engineering Consultants Inc. and Dutch company, Fugro, are forging ahead with a new partnership in the South American country’s emerging oil and gas sector. Already, several Guyanese are receiving specialized training in sea survival and...
News

Exxon awards EPCI contract to Saipem for Liza development

OilNOW -
ExxonMobil has awarded a new Engineering, Procuring, Construction and Installation (EPCI) contract to Saipem for the Subsea Umbilicals Risers Flowlines (SURF) package of the proposed Liza project that Esso Exploration and Production Guyana Limited is operating together with joint...
News

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...
News

Bristow in new contract with Apache

OilNOW -
Bristow Helicopters Limited has secured a new contract with Apache North Sea Limited to support its North Sea operations. The contract which has a five year primary term, with further extension options, will commence on 1 September 2017. Aircraft types...
News

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...
News

Oil prices drop below $48; first time in over a month

OilNOW -
(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...
Production

Oil production will bring many opportunities; Guyanese must equip themselves

OilNOW -
After 50 years of independence, one of the major challenges facing Guyana is the transformation of the country’s natural wealth into human development. At the launch of the 2016 Human Development Report (HDR) in which Guyana was ranked in...
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‘Business as usual’: No disruption in Guyana’s operations despite Venezuela controversy – GCCI Pres.  

Kathy Smith, President of the Georgetown Chamber of Commerce and Industry (GCCI), has made it clear that there has...

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