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Petrobas advancing drill campaign at Equatorial Margin; says success in locations like Guyana promising

OilNOW -
Brazil’s majority state-owned multinational corporation, Petrobras, has confirmed that the Equatorial Margin may hold more than 30 billion barrels of oil, citing recent estimates from Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP). According to Petrobras, this volume...
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Guyana among key drivers of global subsea tree demand despite sharp Q1 dip

OilNOW -
Subsea tree unit awards slumped to 32 in the first quarter (Q1) of 2025, marking a 65% quarter-over-quarter decline, according to Westwood’s Global Subsea Tracker. The drop reflects ongoing macroeconomic challenges and inflation-driven delays in project approvals and contract...
News

TT’s Heritage Petroleum seeks partner for exploration of Preau Block 

OilNOW -
Heritage Petroleum Company Limited, Trinidad and Tobago’s national oil company, is inviting expressions of interest for a partnership arrangement on its newly awarded Preau Block. The block, located just south of Heritage’s Barrackpore Licence (Core Area C), spans approximately 11,200...
News

ExxonMobil taps MODEC for second Guyana FPSO as Hammerhead project advances

OilNOW -
ExxonMobil has awarded a limited notice to proceed to Japanese offshore engineering firm MODEC for the development of a floating production, storage, and offloading (FPSO) vessel for its Hammerhead project offshore Guyana, MODEC said on Monday. The contract is MODEC’s...
News

Why Guyana and others won’t stop exploring for oil – GEOExpro expert explains 

OilNOW -
“Why would we still explore for oil and gas?” René Jonk of ACT GEO asked at the end of his talk for the Geoscience Energy Society of Great Britain on April 8. A question GEOExpro Editor-in-Chief Henk Kombrink examines...
News

Permian leads U.S. crude output growth in 2024; exports reach 4.1 million barrels per day 

OilNOW -
U.S. crude oil production rose 2% in 2024, reaching an annual average of 13.2 million barrels per day (b/d), according to the U.S. Energy Information Administration (EIA), setting a new high even as export growth slowed. The increase of...
News

Tariff threat puts new oil projects at risk – Wood Mackenzie analyst 

OilNOW -
Dozens of new upstream oil and gas projects could be delayed if Trump-era tariffs are reintroduced, according to energy consultants Wood Mackenzie (WoodMac). The firm’s global project tracker shows 28 developments targeting Final Investment Decisions (FIDs) in 2025, and...
Oil Law 101

The PAA Series: Management Themes (Part 3)

Joanna Simmons -
In Management Themes (Part 2), we saw that access to Guyana’s petroleum resources is primarily done through the conduct and regulation of petroleum operations. We also saw that petroleum operations, as defined in the PAA, cover a wide range...
News

Letter-to-the-Editor: Women are making commendable strides in the oil and gas industry

OilNOW -
Dear Editor, It is with immense pride—and a touch of disbelief—that I write this letter as a reminder to myself and to other women that anything is possible. Just a few days ago, I came across an article that stated 75%...
Opinions

Letter-to-the-Editor: The oil and gas sector is investing in the success of our younger generation

OilNOW -
Dear Editor, I read recently that 20 Guyanese cadets were awarded the Noble Marine scholarship, a program aimed at strengthening Guyana’s maritime workforce. Like many Guyanese who were introduced to the now booming oil and gas sector, I was a bit...
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Latest News

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Guyana’s AFC party promises transparency, amended contracts in oil sector if it wins elections

Guyana’s Alliance for Change (AFC) political party is promising oil and gas transparency reforms and a review of existing...

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