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Guyana’s gas development has a complex road ahead

OilNOW -
With over 17 trillion cubic feet of natural gas—and counting—discovered in Guyana’s Stabroek Block, the government is now focusing on its development. However, the process is a bit more complex than oil production. With ExxonMobil’s experience, the government’s goal...
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CARICOM warns Venezuela against conducting elections in Guyana territory, condemns attack on soldiers

OilNOW -
CARICOM has strongly opposed Venezuela’s plan to hold elections in Guyana’s Essequibo region. The regional body, in a statement following its 48th Regular Meeting, warned that such actions violate international law and past agreements. On January 27, 2025, Venezuela’s President...
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Stena Drilling seeks welding suppliers for offshore operations in Guyana

OilNOW -
Stena Carron Drilling Limited (Guyana Branch) has issued an Expression of Interest (EOI) for suppliers of welding supplies, equipment, and related services. The company is looking for businesses with proven expertise to support its offshore operations in Guyana. Stena DrillMAX...
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Staatsolie’s Block 52 bet could be backed by Block 58 cash – WoodMac

OilNOW -
Suriname’s state oil company Staatsolie could use revenues from its participation in the US$12.2 billion Block 58 offshore oil development to help finance its expected stake in the upcoming Block 52 gas project, according to consultancy Wood Mackenzie. Staatsolie has...
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TechnipFMC reports US$9.1 billion in revenue for 2024, secures record orders

OilNOW -
TechnipFMC reported a strong financial performance for the full year 2024, with total revenue of US$9,083.3 million and net income attributable to the company of US$842.9 million, or US$1.91 per diluted share. After-tax charges and credits, including a gain...
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Trump killed Chevron’s Venezuela oil deal. Is Dragon gas next? 

OilNOW -
President Donald Trump has cut off the Biden-era financial lifeline to Venezuela by revoking Chevron’s oil export deal. Now, questions loom over the Dragon gas project between Trinidad and Tobago and Venezuela—could it be next?  Trump, via his Truth Social...
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100% of scaffolding, transportation, immigration support services being provided by Guyanese to oil sector 

Shikema Dey -
Local businesses in Guyana are now providing 100% of several key services to the oil and gas sector, showing advancements in local content development. Dr. Martin Pertab, Director of Guyana’s Local Content Secretariat outlined these achievements at the recently...
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Suriname’s first offshore project advances as TotalEnergies receives FPSO hull

OilNOW -
The Multipurpose Floater C (MPF C) Fast4Ward hull reserved by SBM Offshore for Suriname’s GranMorgu offshore development has been delivered, TotalEnergies announced. The hull was reserved in June last year. It was fabricated by China Merchants Heavy Industry (CMHI). “We...
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Saipem closed 2024 with €14.55 billion in revenue, eyes growth in 2025

OilNOW -
Saipem closed 2024 with strong financial results, reporting €14.55 billion in revenue, up from €11.87 billion in 2023. Fourth-quarter revenue reached €4.42 billion, a 26% increase year-over-year. The company said its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA)...
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Exxon’s Longtail FPSO will substitute water injection capacity with more gas – Routledge

Shikema Dey -
ExxonMobil’s planned Longtail floating production storage and offloading (FPSO) unit will have a significantly unique design from earlier Guyana developments, with increased gas compression and no water injection. Alistair Routledge, President of ExxonMobil Guyana, told OilNOW in an exclusive interview...
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NewsKemol King -

Super tanker headed for Netherlands lifts two cargoes from Guyana oilfield 

The Red Nova, a large crude carrier (VLCC) capable of transporting more than 2 million barrels of oil, recently...

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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