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Westwood’s post-2025 energy investments spotlight Guyana’s Stabroek Block potential

OilNOW -
Beyond 2025, Guyana's Stabroek Block, operated by ExxonMobil, is set to remain a focal point for energy investments, according to a new report by Westwood Global Energy Insights. Guyana joins other major opportunities, including Brazil’s pre-salt basin, deepwater Namibia, and...
News

CNOOC targets record growth, green innovation in 2025 plan

OilNOW -
CNOOC Limited has announced its 2025 Business Strategy and Development Plan, targeting continued growth and high-quality development. CNOOC’s Guyana subsidiary – CNOOC Petroleum Guyana Limited – holds a 25% working interest in the offshore Stabroek Block, alongside ExxonMobil and...
News

US$2.5 billion in oil revenue to support Guyana’s 2025 budget

OilNOW -
The Guyana government will withdraw US$2.5 billion in oil revenue to support its US$6.628 billion (GY$1.382 trillion) budget for 2025, Senior Minister in the Office of the President with responsibility for Finance and the Public Service, Dr. Ashni Singh,...
News

Suriname team tours Guyana’s FPSO simulator unit as oil development advances

OilNOW -
SBM Offshore Guyana hosted a Local Content taskforce from Staatsolie, Suriname’s national oil company, at the Facility Simulator (FacTor) Unit of the Guyana Technical Training College on January 21.  Representatives from the Natuur Technisch Instituut Suriname (NATIN) joined the visit. According...
News

SLB to reduce spend in Guyana this year – CEO 

OilNOW -
SLB CEO Olivier Le Peuch reported a reduction in upstream spending in Guyana during his overview of the company’s 2024 performance and 2025 outlook. While acknowledging strong performances in various regions, he pointed out contrasting trends across international markets. “In...
News

Trump reverses Biden’s LNG export and permitting restrictions in sweeping energy policy overhaul

OilNOW -
U.S. President Donald Trump reversed the pause on LNG export permitting applications and instructed expedited reviews of related projects as part of a broad energy policy overhaul.  In his ‘Unleashing American Energy’ executive order issued hours after his inauguration, Trump...
Opinions

Letter-to-the-Editor: Clarion call for contract renegotiation distracting us from real opportunities

OilNOW -
Dear Editor, Over the past several months, the topic of contract renegotiations in Guyana’s oil sector has once again taken centre stage. The debates and calls for changes have dominated the public discourse, creating a narrative that risks overshadowing the...
News

Guyana gov’t allocates US$245 million to complete Gas-to-Energy project

OilNOW -
The Guyana government allocated US$245 million (GY$51 billion) for the Gas-to-Energy project in its 2025 budget. The landmark project will use offshore natural gas for power generation, reducing emissions and giving the government the fiscal space to slash consumer...
News

Exploration licenses for new oil blocks to be issued in 2025 – Natural Resources Minister

OilNOW -
The Government of Guyana plans to issue exploration licenses for new offshore oil blocks this year, two years after launching a competitive bidding process for 14 blocks. The delay has prompted an apology from Natural Resources Minister Vickram Bharrat. “I...
News

Guyana reaches 52 oil discoveries, Stabroek Block dominates with 46 by ExxonMobil

OilNOW -
Guyana has recorded 52 oil discoveries across its offshore blocks, with ExxonMobil leading the charge in the Stabroek Block, where 46 discoveries have been made. This was revealed by Guyana’s Finance Minister, Dr. Ashni Singh, during his 2025 budget...
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US$2.5 billion in oil revenue to support Guyana’s 2025 budget

The Guyana government will withdraw US$2.5 billion in oil revenue to support its US$6.628 billion (GY$1.382 trillion) budget for...

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