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Builder of Guyana FPSOs has kept its promise, says Human Resource Manager

OilNOW -
When Dutch floater specialist SBM Offshore entered Guyana in 2016, the objective was made clear—to operate in a responsible manner, contribute to the country’s development, and ensure that local capacity is developed so that Guyanese can be at the...
Opinions

CPSO’s threat to challenge Guyana’s Local Content Act

OilNOW -
Summary Based on the discussion and analysis contained herein, the CARICOM Private Sector Organisation (CPSO) appeared to be grossly misguided and thus its stance can be construed as being disrespectful to the Guyanese private sector and Guyana as...
News

Exxon has sanctioned development of about 560,000 bpd so far in Guyana

OilNOW -
With over 10 billion barrels of oil equivalent resources discovered at Guyana’s Stabroek Block since 2015, operator ExxonMobil has sanctioned around 560,000 barrels per day (bpd) so far and is set to add another 250,000 when its largest project...
News

Natural gas shortage drove steep increase in carbon prices in 2021, says GlobalData

OilNOW -
During 2021, emissions trading schemes (ETS) around the world saw record-high carbon prices, with the highest seen in the EU and UK. However, GlobalData notes that prices worldwide are still inadequate to reduce emissions in line with the Paris...
Exploration

US Gulf of Mexico to hit new production record this year

OilNOW -
By Ed Crooks - Vice-Chair, Americas, Wood Mackenzie Platforms coming on stream will take US deepwater output to a record high in 2022. But new entrants have been wary of moving into the region. When British cartographers mapped what was to...
News

Oil locks Guyana in “boom cycle”; forecast to achieve world’s highest GDP growth rate

OilNOW -
Guyana’s development partner, the World Bank, has noted that the South American nation is locked in a “boom cycle” due to its oil resources and is therefore projected to achieve the highest Gross Domestic Product (GDP) growth rate in...
News

SBM Offshore launches mangrove restoration project in Guyana

OilNOW -
SBM Offshore in collaboration with the National Agricultural Research and Extension Institute (NAREI), on Tuesday officially launched the Annandale/Friendship Mangrove Restoration Project in Guyana. The project launch and stakeholders’ engagement was hosted at Tipperary Hall, Buxton, East Coast Demerara and...
Exploration

Maersk Drilling awarded one-well extension for Suriname campaign

OilNOW -
TotalEnergies E&P Suriname, Suriname Branch has exercised an option to add the drilling of one additional well in Block 58 offshore Suriname to the work scope of the drillship Maersk Valiant. The contract extension has an estimated duration of 100...
News

Guyana Private Sector Commission says local content law not in violation of regional Treaty

OilNOW -
Guyana’s Private Sector Commission (PSC) said on Thursday that the country’s local content law does not violate the Revised Treaty of Chaguaramas, the central document which governs the establishment of the Caribbean Community (CARICOM). Members of the business service organisation...
News

Media report on oil block ‘recklessly repeats malicious distortion’, says former Guyana Prime Minister

OilNOW -
Former Prime Minister of Guyana Samuel Hinds, now the country’s Ambassador to the USA and OAS, says a report which appeared in several sections of the media on the offshore Canje block recklessly repeats malicious distortion of the facts. Below...
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Latest News

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Chevron CEO hails Hess deal as 2025’s biggest U.S. merger, bets on lasting oil demand

Mike Wirth, Chief Executive Officer of Chevron, defended the company’s oil-first strategy in a recent interview with the New...

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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