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Former Guyana President says no illegality surrounds award of oil blocks; calls probe ‘political ploy’

OilNOW -
Guyana’s former President, Donald Ramotar, who held direct responsibility for petroleum at the time offshore oil blocks, which are currently the subject of an anti-corruption probe, were awarded, is calling the investigation a political ploy designed to distract from...
News

SARA ‘shooting in the dark’ with oil blocks probe – Chamber

OilNOW -
One of the lead groups representing businesses in the South American country of Guyana says while it stands firmly by the rule of law, it outrightly rejects the ‘reckless pronouncements’ being made by an anti-corruption agency regarding an apparent...
News

Brazil’s Petrobras nears sale of offshore oilfields

OilNOW -
Brazil’s Petroleo Brasileiro SA is nearing the sale of two oilfields in a process that could fetch around $1 billion and aid the state-run oil firm in its bid to reduce debt, Reuters said in a report on Tuesday. Petrobras,...
News

Despite political uncertainty in Guyana oil development remains intact – Morgan Stanley

OilNOW -
US multinational investment bank, Morgan Stanley, believes that oil development plans in the South American country of Guyana remain intact despite political uncertainty and a recent report pointing to anti-corruption investigations into the award of oil blocks. In a...
News

Guyana Energy Dept. says oil consultant not employed by ExxonMobil

OilNOW -
Director of Guyana’s Department of Energy (DE), Dr. Mark Bynoe, in a statement on Friday evening said he outrightly rejects the claims published in a section of the media, that oil consultant Dr. Michael Warner, who was hired to...
News

Tullow Oil talks up local content with Guyana business group

OilNOW -
A team of officials from Tullow Oil, led by CEO Paul McDade, met with members of the Georgetown Chamber of Commerce and Industry (GCCI) on Wednesday in Guyana’s capital, Georgetown, for wide-ranging discussions ahead of the company’s 3-well drill...
News

Dyna-Mac awarded contract for Liza Unity topsides

OilNOW -
Singapore-based Dyna-Mac will be working on the topside modules for the 220,000 bpd Liza Unity floating production storage and offloading vessel for ExxonMobil’s second development offshore the South American country of Guyana. According to a report in Upstream, Dyna-Mac confirmed...
News

SBM confirms award of Liza 2 floater contract

OilNOW -
SBM Offshore announced on May 10 that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the next phase of the Liza project in Guyana. “We are proud that...
Opinions

Macroeconomic effects of oil price volatility and the implications of energy subsidy reforms

Bobby Gossai, Jr. -
Sharp increases in the price of oil and other energy products are referred to as classical examples of negative supply shocks (Hamilton 2005). Increases in the price of oil lead to increases in the cost of production, which in...
News

Brazil government publishes additional rules regarding massive oil auction

OilNOW -
(Reuters) - Brazil’s government laid out on Wednesday some additional terms regarding a massive oil auction scheduled for later this year, in which it will sell off an oil-producing zone known as the transfer-of-rights area. In an official bulletin, the...
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Latest News

NewsShikema Dey -

Major energy and infrastructure projects to define Guyana’s next few years

Over the next few years, President Irfaan Ali’s second term will see Guyana advancing key projects that place energy...

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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