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SBM Offshore reports record US$1.9 billion earnings in 2024

OilNOW -
SBM Offshore reported a record directional EBITDA (earnings before interest, taxes, depreciation, amortization) of US$1.9 billion for 2024, a 44% increase from the previous year. The earnings were driven in part by ExxonMobil’s purchases of the Prosperity and Liza Destiny...
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More delays for Guyana’s landmark gas project

OilNOW -
At last year’s Energy Conference, Winston Brassington, Head of Guyana’s Gas-to-Energy Taskforce, announced that the project would be ready by mid-2025. This year, he returned with an update—its completion has been delayed. This relates to the facilities being constructed by...
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Guyana wants to offer Corentyne acreage to another operator

OilNOW -
Guyana wants to offer the Corentyne acreage to another operator after it finally cancels the license of the CGX Energy and Frontera Energy group.  Minister of Natural Resources Vickram Bharrat told Reuters the block, where CGX discovered oil and gas,...
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Brazil’s first FPSO unit with Sustainability-1 Notation starts production – SBM Offshore

OilNOW -
SBM Offshore said the Almirante Tamandaré is formally on hire as of February 16. The floating production, storage and offloading (FPSO) vessel is the first in Brazil to have the Sustainability-1 Notation from Bureau Veritas. The Notation recognizes the Company’s...
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Guyana’s local content app to be launched on Friday at major SBM Offshore supplier event 

OilNOW -
Guyana’s Local Content Secretariat (LCS) will launch its App on Friday, Feb 21, at SBM Offshore Guyana's Let's Talk Local Content forum. The event will cap off an exciting week of engagement on oil and gas activities at the...
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Gas Development: Exxon says additional power generation, alumina processing, fertilizer manufacturing and data centers on the radar

Shikema Dey -
Interest in the development of gas resources offshore Guyana is ramping up as evidenced by the day two presentations at the Guyana Energy Conference and Supply Chain Expo. The conversation shifted to how the new oil producing country can...
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10,000 vehicles registered in 5-months point to stronger purchasing power – Oil Minister

OilNOW -
Guyana’s Minister of Natural Resources, Vickram Bharrat, says the rapid growth in vehicle registrations signals increasing purchasing power among Guyanese, fueled by the country’s booming economy. Speaking at the Guyana Energy Conference and Supply Chain Expo, Bharrat highlighted that...
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Major financial overhaul needed before Guyana can introduce cryptocurrency

OilNOW -
Guyana's Vice President, Bharrat Jagdeo, says the country is not ready to regulate or facilitate cryptocurrency transactions. He made the statement at the Guyana Energy Conference and Supply Chain Expo, emphasizing that significant financial reforms must come first. "The answer...
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Exxon to FID Longtail by 2026 – Routledge

Kemol King -
ExxonMobil’s eighth Guyana development, Longtail, should get its final investment decision (FID) in 2026, country President Alistair Routledge said Wednesday.  He told attendees at the Guyana Energy Conference the project is a challenging excursion based on the technical challenges the...
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Exxon to make final investment decision for Hammerhead development this year – Routledge 

Shikema Dey -
The final investment decision for ExxonMobil Guyana’s Hammerhead development is expected to be made by mid-year 2025, its President Alistair Routledge announced today.  “This is subject to us completing the full environmental permitting process and the production license process,” Routledget...
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ExxonMobil taps MODEC for second Guyana FPSO as Hammerhead project advances

ExxonMobil has awarded a limited notice to proceed to Japanese offshore engineering firm MODEC for the development of a...

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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