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New East African oil pipeline to drive energy security, job creation benefits

OilNOW -
Energy security, job creation, community development and wider socio-economic growth are just some of the benefits set to accrue from the development of the East Africa Crude Pipeline (EACOP) by 2030. The EACOP – also known as the Uganda-Tanzania crude...
News

Exxon searching for companies to construct Guyana’s first-ever oil and gas training institute

OilNOW -
ExxonMobil’s affiliate Esso Exploration and Production Guyana Limited (EEPGL), has commenced its procurement process for a contractor to construct the Guyana Technical Training Institute – the nation’s first state-of-the-art oil and gas training facility. In the request for information issued...
News

Oil finds in Guyana, Suriname position countries to become “new force” in global energy sector

Shikema Dey -
Paramaribo, Suriname – Over the last two years, South American neighbours – Guyana and Suriname have been foisted into the limelight due to the exciting oil and gas discoveries being made in both offshore territories. To date, Guyana’s proven oil and...
News

Saipem awarded US$1.2B in Middle East contracts

OilNOW -
Saipem says it was awarded several contracts for operations in the Middle East, totaling some US$1.25 billion. It did not name the clients. The first group of contracts concerns extending onshore drilling contracts in the Middle East. They are worth...
News

Trinidad pays deepwater royalties, taxes for oil companies, caps cost recovery at 80%

OilNOW -
Trinidad and Tobago’s model deepwater production sharing contract (PSC) offers attractive incentives to international oil companies (IOCs). All royalties, taxes and other levies are paid for out of the Government’s share of Profit Petroleum, which remains after costs are recovered up to a ceiling...
Opinions

Tom Mitro failed to prove Guyana losing big on cost oil deductions

OilNOW -
By Joel Bhagwandin - OilNOW I am tired of responding to first world “so called experts” who have their own agenda and based on their absurd pronouncements on Guyana’s affairs, probably believe that we are an uneducated population and lack...
News

Stabroek Block royalties not part of cost oil – Guyana tax boss

OilNOW -
Commissioner-General of the Guyana Revenue Authority (GRA), Godfrey Statia said on Saturday that royalties paid by the Stabroek Block consortium are not allowable in the calculation of cost oil. The tax boss explained this in response to “misinformation” in the...
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

Guyana’s take from oil production larger than Exxon, COVs, royalty not recoverable

OilNOW -
South America’s newest oil producing nation is in the midst of an oil boom which started in 2015 when ExxonMobil discovered the Liza field, the largest deepwater discovery in the world that year. Since that time, the US oil...
News

‘Gas is free, pipeline to be paid for from cost oil’ – VP confirms

OilNOW -
As negotiations continue between the Guyana Government and ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL) regarding the contractual terms to govern the Gas-to-Energy project, both parties have so far agreed that there will be no cost for...
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Latest News

NewsShikema Dey -

Chevron’s entry strengthens Guyana oil sector despite Venezuela ties – Rystad Energy  

Chevron’s entry into Guyana’s Stabroek Block will not disrupt ongoing operations, according to Schreiner Parker, Partner and Head of...

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