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“Very few historic precedents for this kind of growth in Guyana” – Finance Min.

OilNOW -
The International Monetary Fund (IMF)’s recent report forecasted a 38.4 percent real Gross Domestic Product (GDP) growth rate for Guyana in the current year, with expectations of a continued expansion at 26.6 percent in 2024. Notably, Guyana stands alone...
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ExxonMobil’s Pioneer acquisition propels it to world’s first “Megamajor” in upstream industry – WoodMac

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In a move that has reverberated across the energy sector, ExxonMobil has solidified its position as the world's first "Megamajor" in the upstream industry through the acquisition of Pioneer Natural Resources for US$64.5 billion.  The deal, according to Wood Mackenzie,...
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Four years after shipping first barrel, Guyana on its way to big league of top oil producers

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Guyana, a relative newcomer to the global oil industry, is making strides in terms of its oil reserves and production capabilities. Since its first commercial oil discovery in 2015, the country has become a significant player in the sector,...
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Suriname on the verge of “missing the bus” – Guyana VP

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Suriname’s window of opportunity to reap the full benefits of its offshore oil and gas sector is closing fast, said Guyana's Vice President Bharrat Jagdeo during an October 12 press conference. Jagdeo was asked to respond to reports about Guyana...
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Liza Destiny quickest to peak production among Guyana, Brazil FPSOs – S&P Global

Shikema Dey -
The timeframe to ramp up Guyana projects to peak production is significantly less than neighboring Brazil, according to S&P Global Commodity Insights.  There are only two floating production, storage and offloading (FPSO) vessels operating offshore Guyana, in the Stabroek Block...
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Blue Water Suriname appoints Sporkslede as General Manager

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Blue Water Suriname, a subsidiary of global logistics company Blue Water, has announced the appointment of Gerson Sporkslede as its General Manager, signifying its readiness for full operations in the region.  In a release on October 13, Blue Water said...
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Guyana gets US$85 million from sale of profit oil lift in September

OilNOW -
In September 2023, Guyana's natural resource fund (NRF) saw a revenue inflow of US$85 million (approximately GY$17.78 billion) from the sale of a single lift of profit oil from ExxonMobil’s Stabroek block production.  According to the Bank of Guyana, the...
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TT National Gas Company, Methanex sign gas sales contract for resumption of Titan methanol plant

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Trinidad’s National Gas Company (NGC) and Methanex Trinidad Limited (Methanex), the world's largest producer of methanol, have officially signed a gas sales contract (GSC) for the resumption of gas supply to the Titan methanol plant located on the Point...
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Guyana moves to map out its natural gas development plan

OilNOW -
Guyana is on the brink of unveiling its draft national gas utilization strategy.  This was shared by Vice President Bharrat Jagdeo during a weekly press conference on October 12 where he indicated that public consultations would commence soon. Jagdeo announced, “We...
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Guyana reissues request for proposals for its largest renewable energy project

OilNOW -
The Government of Guyana has reissued a request for proposals (RFP) for the Amaila Falls hydropower project (AFHP), the country's largest renewable energy project.  The move comes after a previous RFP in 2021 failed to secure a lasting contract with...
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Ali names 25-member cabinet; Vickram Bharrat back at oil ministry

President Irfaan Ali of Guyana unveiled 25 ministerial Cabinet appointees on Saturday evening, as the government embarks on its...

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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