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2024 has been confirmed as the timeline for Suriname’s Block 58 Final Investment Decision (FID) signaling a potential start to offshore oil production in the South American country.  That timeline was confirmed to OilNOW by Managing Director of Staatsolie -...

The Guyana government has submitted a supplementary provision to Parliament, proposing an additional GY$61 billion in funds for various government initiatives set for this year. Significantly, GY$5 billion (approximately US$24 million) of this has been earmarked for the Gas-to-Energy...

UK-based energy company Trinity Exploration & Production has made a groundbreaking discovery of what it refers to as "virgin oil" in an exceptionally mature basin onshore Trinidad and Tobago.  Trinity Exploration & Production announced on August 7 that it had...

As revenues from oil production continue to support extensive infrastructural development projects in Guyana, it is also providing authorities with the capacity to direct over GY$70 billion (approximately US$335.5 million) toward citizens’ welfare. This has been done within a...

Six major oil companies - ExxonMobil, bp, Shell, TotalEnergies, Eni, and Chevron - are poised to play a significant role in global exploration activities this year. According to industry forecasts by Rystad Energy, these major players are expected to...

The Baja-1 find in Suriname’s Block 53 is being assessed for development, APA Corporation stated in its Q2 earnings report.  It was the first ever for Block 53, made back in August last year.  Baja-1 was drilled to a depth of...

In a recent statement, the Georgetown Chamber of Commerce and Industry (GCCI) expressed serious concerns regarding the burgeoning issue of sham partnerships within the private sector, a trend alarmingly labelled as 'fronting' or 'rent-a-citizen'. Such faux partnerships, according to...

Guyana, the newest oil producer in South America, is emerging as a major player in the global oil and gas industry. The country, with current production of around 400,000 barrels of oil per day, has secured an impressive 4th...

Petrobras, the Brazilian state-controlled oil giant, announced a significant drop in quarterly profits, with results adversely affected by the depreciation of Brent crude prices and rising operating expenses. The company reported a net profit of 28.8 billion reais (US$5.8...

Despite encountering resistance from some local analysts arguing that the Gas-to-Energy Project could risk anchoring the nation to a fossil fuel-dependent future, rather than a renewable energy trajectory, Guyana's Vice President, Dr. Bharrat Jagdeo, staunchly contends that such an...