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News

Ecuador seeks $800M investment in oil & gas bid

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(Reuters) - Ecuador on Tuesday launched a bidding round for foreign companies to develop oil and gas reserves, hoping to attract some $800 million in investment to boost production in the Andean nation’s sluggish economy. Winners will operate four oil...
News

Natural gas exporters want oil-linked pricing to maintain supply

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(Bloomberg) The debate over how to price natural gas is settled, at least for exporters, and oil-indexing should prevail. Prices have to be linked to crude oil to keep expected revenue predictable, with some $8 trillion of investments in the...
News

Colombia jumps into Latam oil auction wave; to award blocks in April

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(Reuters) - Colombia plans to award up to 15 oil blocks next month and will begin routinely offering onshore and offshore areas for exploration and production in May, the head of the country’s energy regulator told Reuters. The move, Colombia’s...
News

ExxonMobil, Guyana officials stress ‘sanctity of contract’ at O&G seminar

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As questions continue to be raised about the prospect of a ‘renegotiation’ of the Production Sharing Agreement (PSA) between Guyana and ExxonMobil, officials from both the Guyanese government and the oil company are adamant that the contract is valid...
News

One year earnings from oil equals 8 from gold – Business Minister

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The Guyana Government has collected just over US$300M in royalties and taxes from all the gold produced in the country over the last eight years which means in the first year of oil production, the country will earn about...
News

Noble Bob Douglas arrival signals start of development for oil production in Guyana

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The arrival of the Noble Bob Douglas drill ship in Guyana will signal the start of development of the Liza field which will bring first oil for the South American country in March 2020. The vessel is currently en-route to...

Ratio Energy Ltd. Contract

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https://oilnow.gy/contracts/ratioagreement.pdf
Industry Insight

Ramblings from an oil and gas conference and trade show junkie

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My recent attendance at GIPEX 2018 prompts my column today and what a conference it was!  But more on that conference later. Oil and Gas Conferences and Trade Shows First, let’s talk about the benefits of oil and gas conferences and...
News

Peru’s move to ‘direct negotiation’ for oil blocks attracting investors

OilNOW -
Peru has been moving to quietly rework its hydrocarbons regime with a direct negotiation system to attract new investment, and it is beginning to pay off. Guyana currently has such a system and authorities have signaled it may also...
News

Powerful quake hits central Papua New Guinea, disrupts oil and gas operations

OilNOW -
(Reuters) - A powerful 7.5-magnitude earthquake struck Papua New Guinea’s Southern Highlands province early on Monday, the U.S. Geological Survey (USGS) said, disrupting communications and oil and gas operations. The tremor hit near the centre of Papua New Guinea’s main...
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Latest News

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What you need to know about the U.S. military build-up in the Caribbean

What began on August 14, when Washington ordered air and naval forces into the southern Caribbean reportedly to combat...

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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