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One month left for Venezuela to submit counter-memorial to World Court in Guyana border case

OilNOW -
With the clock ticking, Venezuela has just one month remaining to present its counter-memorial to the International Court of Justice (ICJ) in the ongoing border controversy with Guyana. The deadline set by the Court is April 8, 2024. This...
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Saipem targeting fabrication of “more complex” subsea structures in Guyana this year

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By the third quarter of 2024, Saipem Guyana is set to occupy 81,000 square meters (m2) of the Vreed-en-Hoop Shore Base Inc. (VEHSI) facility, allowing it to fabricate “more complex” subsea structures for the country’s booming oil industry.  Saipem is...
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Blue Water to expand into South Korea

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To bolster its position in the Asian market, Blue Water has announced its official acquisition of Zodiac Solutions, paving the way for its expansion into South Korea. This strategic development took place at the Korea - Denmark Offshore Wind...
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As billions in bets hang on Chevron-Hess merger, Exxon files for arbitration with Paris Chamber

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ExxonMobil has filed for arbitration to retain pre-emption rights in the prolific Stabroek Block, Bloomberg reported. This comes as Chevron pursues its acquisition of Hess which has a 30% interest in the Guyana asset. The publication said Exxon’s Senior Vice...
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Guyana to become world’s largest per capita oil producer next year 

OilNOW -
Guyana's oil production is on an upward trajectory, headed for 900,000 barrels per day (b/d) next year. By then, the country is poised to become the world’s largest per capita producer of oil.  The three operating projects - Liza 1,...
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India turns to Guyana, Suriname, Namibia as OPEC cuts tighten 

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India's Union Petroleum Minister, Hardeep Singh Puri, revealed on March 4 that discussions have been underway with Guyana, Suriname, and Namibia regarding potential oil cooperation. Puri said that despite the ongoing voluntary oil output cuts by the Organization of...
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Staatsolie, PETRONAS, ExxonMobil extend gas exploration off Suriname’s coast, eye floating LNG project

Shikema Dey -
Surinamese state oil company, Staatsolie, announced on March 4 that it has signed a Letter of Agreement (LoA) with PETRONAS and ExxonMobil to extend the exploration of a gas discovery made in 2020 off the coast of Suriname in...
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Former T&T energy minister runs poll on local content law; none in place 116 years after ‘first oil’

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Trinidad and Tobago's (T&T) former Minister of Energy and Energy Affairs, Kevin Ramnarine recently conducted a poll via LinkedIn to ascertain whether the twin-island Republic should legislate its local content requirements.  78% of the votes were in the affirmative.  The first...
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Zero to almost 700,000 barrels per day; Guyana oil production booming

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ExxonMobil Upstream Company President, Liam Mallon, has lauded the remarkable success of Guyana's oil production, emphasizing its growth from "zero when we first started drilling" to reaching "600 and 40 something ." The unprecedented growth, Mallon points out, marks...
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Stabroek Block produced over 18 million barrels in January 

Kemol King -
In January, three projects at the ExxonMobil-operated Stabroek Block offshore Guyana produced 18.7 million barrels of oil.  The projects collectively averaged 602,000 barrels per day (b/d). However, based on their individual peaks, the projects demonstrate the ability to produce collectively...
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Chinese oil and gas giant CNOOC eyes greater role in Trinidad and Tobago’s energy sector

Executives from China National Offshore Oil Corporation (CNOOC) this week met with Trinidad and Tobago’s Ministry of Energy 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.

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