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Oil could hit US$100 a barrel if Iran targets Strait of Hormuz – WoodMac

OilNOW -
Oil prices could spike to as high as US$100 a barrel if Iran escalates regional tensions by targeting shipping in the Strait of Hormuz, analysts at consultancy Wood Mackenzie said. They view such a move as unlikely. However, the...
News

GranMorgu FPSO: A closer look at the vessel powering Suriname’s first offshore oil project

OilNOW -
PARAMARIBO, SURINAME – SBM Offshore and Technip Energies are building Suriname’s first floating production, storage and offloading (FPSO) unit for the upcoming GrandMorgu field. The vessel, scheduled to arrive in-country by mid-2028, will be critical to the project’s success,...
News

Afreximbank COO pitches partnership for Suriname’s SMEs

OilNOW -
PARAMARIBO, SURINAME – The African Export-Import Bank (Afreximbank) wants to be a long-term financial partner for small and medium-sized enterprises (SMEs) in Suriname, especially as the country enters a new phase of development driven by its oil and gas...
News

Staatsolie Director warns against overregulating local content ahead of GranMorgu development

OilNOW -
PARAMARIBO, SURINAME - As Suriname prepares for the GranMorgu oil development, Vandana Gangaram Panday, Director at Staatsolie Hydrocarbon Institute, cautioned against overregulating local content. Speaking on day four at the Suriname Energy, Oil and Gas Summit, Panday acknowledged the ongoing...
Guyana's Oil Ledger

Guyana’s 2025 oil revenues cross US$1 billion mark

Kemol King -
Guyana’s Natural Resource Fund (NRF) has surpassed the US$1 billion mark in crude oil revenue deposits this year through May 2025, as robust production from the ExxonMobil-led Stabroek Block continues to provide money for the government’s national development priorities. The most...
News

TotalEnergies identifies additional wells to sustain GranMorgu plateau production

OilNOW -
PARAMARIBO, SURINAME – TotalEnergies has identified additional wells that will be drilled to sustain plateau production at its landmark GranMorgu project offshore Suriname, according to Javier Rielo, the company's Senior Vice President, Americas. “We have already identified wells. We are...
News

GranMorgu FPSO to benefit from proven SBM Offshore design approach

OilNOW -
PARAMARIBO, SURINAME –  The GranMorgu FPSO, being developed by SBM Offshore and Technip Energies for Block 58, will be the eighth unit built using SBM’s standardized hull, a strategy designed to accelerate delivery timelines while improving long-term operational performance. Speaking...
Opinions

Letter-to-the-Editor: Protecting public health amid COVID-19’s resurgence in Guyana

OilNOW -
Dear Editor, Concerns about public health remain at the forefront of everyone’s mind. With the re-emergence of COVID-19 in Guyana, the Ministry of Health is urging the public to take all necessary precautions. It is equally crucial that the oil...
News

MODEC spent US$3.4 million with Guyanese suppliers in 2024

OilNOW -
Japanese company MODEC reported in a press statement today that it spent US$3.4 million procuring goods and services from Guyanese suppliers last year. In addition to this expenditure, the company’s 2024 local content work included publishing 45 procurement opportunities, recruiting...
News

SBM Offshore gets O&M contract for first Suriname FPSO 

OilNOW -
SBM Offshore inked a deal for the operations and maintenance (O&M) of the GranMorgu floating production, storage and offloading (FPSO) vessel with TotalEnergies, the Dutch shipbuilder said Thursday morning.  TotalEnergies’ Suriname affiliate TotalEnergies EP Suriname B.V. awarded the contract, which...
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Latest News

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Patrick Brunings nominated to lead new Oil and Gas Ministry

PARAMARIBO, SURINAME - Suriname’s incoming coalition government has nearly finalized its Cabinet ahead of the July 16 inauguration, with...

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