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Chevron reinforces confidence in Hess acquisition with purchase of shares

OilNOW -
Chevron Corporation has reinforced its commitment to acquiring Hess Corporation by purchasing 15.38 million shares of Hess’ common stock in open market transactions between January and March 2025. The purchase, conducted at prevailing market prices, was disclosed in a...
News

Exxon ramping up capacity to produce nearly 2.2 million boe/d in Guyana by 2030

Kemol King -
ExxonMobil Guyana is on track to ramp up its capacity to produce oil, condensate and gas at almost 2.2 million barrels of oil equivalent per day (boe/d). This includes oil production capacity of approximately 1.62 million b/d, condensate production...
News

Exxon hires New Wave to conduct marine warranty survey for Whiptail project 

OilNOW -
New Wave Offshore Energy has been selected as the marine warranty surveyor for ExxonMobil Guyana’s Whiptail development, a US$12.7 billion offshore oil project in the Stabroek Block, the company said on the weekend. Under the contract, New Wave Offshore will...
News

Venezuela’s Opposition proposes overhaul of energy sector to entice international oil companies

OilNOW -
Venezuela's opposition has drafted a proposal to reform the country’s energy sector, aiming to attract international oil companies and increase pressure on President Nicolás Maduro, Reuters reported this week. The reform plan aims to gain support from U.S. oil...
Energy Insights

New lawsuit claims that the Government of Guyana’s management of the Natural Resource Fund is unlawful and unconstitutional

Chevy Devonish -
A local businessman has filed a lawsuit challenging the Government of Guyana’s (GoG) management of the Natural Resource Fund (the Fund) established under the Natural Resource Fund Act 2021 (the NRFA 2021).  The first hearing is scheduled for Monday, 17th...
Opinions

Letter-to-the-Editor: Commendable approach by UG as career fair presents vast opportunities for job seekers 

OilNOW -
Dear Editor,  While job security and employment opportunities are important for the country’s economy to grow, job seekers must be gainfully informed about the steps needed to secure their spot at companies.  I commend the University of Guyana for its approach...
News

Guyana’s oil boom could surpass Mexico’s declining sector by 2030

OilNOW -
The global oil industry is changing, with Guyana's production rising quickly while Mexico's output declines. This is according to Adrian Duhalt, a fellow at the Texas-Mexico Center at the Southern Methodist University, who pointed out their contrasting paths. “Guyana’s oil...
News

Guyana’s energy boom could fuel AI revolution, says industry expert

OilNOW -
Guyana’s economic growth and expanding energy sector present a major opportunity to embrace artificial intelligence (AI) and data mining. Industry expert Aly Orady, Founder and Chief Technology Officer at Tonal, believes the country has a strategic advantage due to...
News

G7 coalition backs Guyana in Venezuela border row

OilNOW -
The Group of Seven (G7), a powerful coalition of the world’s most advanced economies, has defended Guyana’s internationally recognized sovereign rights. This comes in the wake of a Venezuelan naval incursion into the South American nation’s exclusive economic zone...
News

Guyana’s ‘advantaged barrels’ give it a competitive edge – Wood Mackenzie 

OilNOW -
Guyana’s oil production stands out globally due to its low costs and low carbon emissions, making it a key player in the future energy mix, according to Ignacio Rooney, Senior Director at Wood Mackenzie’s Upstream Consulting and Carbon Management...
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Letter-to-the-Editor: The oil and gas sector is investing in the success of our younger generation

Dear Editor, I read recently that 20 Guyanese cadets were awarded the Noble Marine scholarship, a program aimed at strengthening...

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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