Featured

Featured posts

News

Offshore EPC contract awards projected to reach US$54 billion in 2025 amid challenges

OilNOW -
The offshore oil and gas industry is expected to see a slight 1% year-on-year growth in engineering, procurement, and construction (EPC) contract awards in 2025, reaching US$54 billion, according to Westwood Global Insights.  This increase is supported by 53 field...
News

Oil revenue to fund 37% of Guyana’s US$6.6 billion 2025 budget

Kemol King -
US$2.46 billion in revenue earned from Guyana’s fast-growing oil sector will fund 37% of Guyana’s 2025 national budget. The plan to fuel the country’s development in 2025 was announced on Friday, by the Senior Minister in the Office of...
News

Stena DrillMAX wraps up Exxon assignment in Guyana

OilNOW -
ExxonMobil’s contracted fleet of drillships in Guyana now stands at five with the recent departure of the Stena DrillMAX which has completed its assignment. The Maritime Administration Department (MARAD) said the vessel left Guyana’s Exclusive Economic Zone in January.  The...
News

Guyana gov’t can withdraw up to 96% of last year’s oil earnings in 2025 budget

Kemol King -
The Guyana government can withdraw 96% of its 2024 earnings from the oil sector, based on the withdrawal rule in the Natural Resource Fund Act.  The rule allows the government to withdraw US$2.46 billion of the US$2.57 billion deposited into...
News

Regulators, ExxonMobil near completion of Stabroek Block relinquishment process

OilNOW -
Minister of Natural Resources Vickram Bharrat announced that the process for ExxonMobil Guyana to relinquish 20% of the Stabroek Block is in its final stages.  The Petroleum Sharing Agreement (PSA) governing the Stabroek Block requires Exxon to relinquish 20% of...
Stories Beyond the Barrel

From aspiring veterinarian to logging geologist, Kimberly Lachman aiming high in Guyana’s oil sector

OilNOW -
Kimberly Lachman never imagined a career in the oil and gas industry. “I wanted to be a veterinarian as a kid. I didn’t see myself here as a logging geologist,” she admitted. Yet today, she is charting a course...
Guyana's Oil Ledger

Guyana earned US$2.57 billion from oil in 2024

Kemol King -
Guyana received US$2.57 billion (GY$536 billion) in oil revenue in 2024, based on monthly and quarterly reports of the Natural Resource Fund (NRF). The amount is 59% more than the approximately US$1.62 billion (GY$337 billion) that the NRF received...
News

Guyana must seek strong, capable partners for oil development – Greenidge

OilNOW -
Guyana’s former Foreign Minister, Carl Greenidge, has stressed the need for the nation to partner with financially strong and technically capable companies to ensure the sustainable development of its oil and gas sector.  Speaking during a webinar hosted by the...
News

Authorities say CGX has been treated fairly, insist no dispute exists with company

Kemol King -
There is no dispute between CGX Energy and the Guyana government, the country's Minister of Natural Resources, Vickram Bharrat, said Tuesday. The Minister’s comment comes a month after CGX and Frontera Energy - joint venture partners in the Petroleum Prospecting...
News

Consultant report key to gov’t decision on Liza Unity’s optimization plans  

Shikema Dey -
The Guyanese government is awaiting a report from independent consultant IKM Acona AS before deciding on ExxonMobil’s plans to optimize the Liza Unity floating production, storage, and offloading (FPSO) vessel.  IKM Acona provides comprehensive consultancy and project management services to...
1...666768...995Page 67 of 995

Latest News

NewsOilNOW -

Exxon aiming to leverage Guyana development pace in T&T, expects to even ‘move quicker’ – Ardill

ExxonMobil is aiming to replicate the remarkable success it has had in Guyana, in neighboring Trinidad and Tobago, and...

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.

Quick Access

Company Info

Social Networks