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Guyana’s president urges Suriname to ‘act early’ in preparation for impending oil boom

OilNOW -
As Suriname prepares for its first deepwater development, Guyana’s President, Dr. Irfaan Ali, urged that country's government and private sector to “act early” in laying the foundation for its long-term economic transformation.  Addressing a recent conference in Suriname, Ali said...
News

16 days after taking office, Trump calls for creation of a U.S. sovereign wealth fund

OilNOW -
By executive order, President Donald Trump on Monday urged the U.S. Treasury and Commerce Departments to establish a United States Sovereign Wealth Fund (SWF), proposing the acquisition of TikTok and directing the profits into the fund.  The White House said...
News

‘Money is not the problem’ – Suriname’s Public Works Minister says about delay in Corentyne River bridge project 

OilNOW -
The Corentyne River Bridge, a major project designed to enhance bilateral relations between Guyana and Suriname, faces potential setbacks, due to delays on the Surinamese side, according to the country’s Public Works Minister, Riad Nurmohamed.  “The money is there, that...
News

Over 600 students converge at National Sports Hall for SBM Offshore Guyana’s Mousetrap Competition 

Shikema Dey -
Energy filled the National Sports Hall as teams from 12 secondary schools across Guyana competed on Thursday for first place at the 3rd Guyana-Monaco Mousetrap Car Grand Prix competition, the largest ever since its inception.  Paramakatoi Secondary, Abram Zuil Secondary...
News

Gas-to-Energy power plant to start operations by November 1 – Prime Minister

OilNOW -
Guyana's highly anticipated 300 megawatts (MW) Gas-to-Energy power plant will start operations on November 1. During a recent parliamentary hearing, Prime Minister Mark Phillips said, “the first of November, the simple cycle will be on stream for the Gas-to-Energy...
News

Guyana aiming to welcome more oil players as country on verge of becoming one of the region’s biggest producers

OilNOW -
The impending entry of more major oil companies into Guyana’s oil basin has been met with enthusiasm, with Natural Resources Minister Vickram Bharrat deeming it a welcome development for the nation’s growing energy industry. “The talks between Total, Qatar and...
News

‘Stronger Together’ – President Ali urges regional unity as Suriname prepares for offshore oil boom

OilNOW -
As Suriname embarks on its journey to the global energy stage, Guyanese President Dr. Irfaan Ali has assured its neighbor to the east it does not have to “stand on its own.” He believes regional cooperation could be the...
Exploration

Guyana-Suriname Basin, Brazil among busiest regions this year for high-impact drill campaigns

OilNOW -
High impact exploration drilling is expected to remain stable in 2025, with 65-75 wells targeted for completion, compared to 69 in 2024. In this regard, South America could see 17 of these wells being drilled, making it the busiest...
News

Suriname must reject complacency as it prepares for first offshore oil development – Santokhi

OilNOW -
Suriname’s President Chandrikapersad Santokhi says the country must reject complacency and a culture that tolerates mistakes as it prepares for its first offshore oil development. “As a nation, we must reject the mentality that accepts mistakes and shortfalls as usual,”...
News

Staatsolie seeking US$250 million through bonds for Gran Morgu development 

OilNOW -
Suriname state oil company Staatsolie has launched a bond to come up with “at least” US$250 million and EURO 50 million for its participation in the TotalEnergies-led Gran Morgu development in Block 58.  The company stated that the bond will...
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Latest News

NewsShikema Dey -

Exxon now controls deepwater asset larger than surface area of TT 

Trinidad and Tobago’s Minister of Energy and Energy Industries, Roodal Moonilal, today announced the signing of a “historic” Production...

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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