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U.S. EXIM Bank President says US$526M loan to Guyana is ‘first of many deals to come’

Kemol King -
A US$526 million loan to Guyana for its Gas-to-Energy project is the first of many deals to come, an official from the United States Export-Import Bank (EXIM) said at an event on Friday.  “We can be, at US EXIM, a...
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Maduro takes oath for third term amid Opposition-led protests 

OilNOW -
With his wife standing faithfully at his side, Nicolás Maduro took the oath of office for his third term as Venezuela’s president.  Behind barricades, angry Venezuelans protested his increasingly repressive rule over the embattled South American nation.   Despite the global outcry...
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TotalEnergies’ Gran Morgu project will drive local participation in 45 sectors – Suriname GM 

OilNOW -
Suriname companies and workers in 45 sectors will have opportunities to participate in the development phase of the Gran Morgu project of Block 58, said TotalEnergies’ General Manager & Country Chair EP Suriname, Artur Nunes da Silva.  “45 sectors will...
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Hammerhead crude “heavier but still attractive” – Hess

OilNOW -
Despite its smaller scale and heavier crude, the Hammerhead field is still economically viable, according to John Hess, Chief  Executive Officer of Hess Corporation. Hess is ExxonMobil’s partner in Guyana’s prolific Stabroek Block.   The field is expected to produce 150,000...
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Guyana’s draft oil spill bill completed – Attorney General 

OilNOW -
Guyana’s Attorney General and Minister of Legal Affairs, Mohabir Anil Nandlall has revealed that a draft for the long-awaited Oil Pollution Prevention, Preparedness, Response, and Responsibility Bill has been completed. During the January 7, 2025, airing of his weekly television...
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Guyana’s annual take from oil to balloon to US$9.2 billion in 2030 – Rystad Energy

OilNOW -
Guyana is projected to receive US$9.2 billion in revenue from oil sales and royalties in 2030, according to a Rystad Energy analysis.  The energy research firm contrasted this with the US$155 million it said Guyana got in 2020 - the...
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240,000 bpd eyed for possible development of Longtail resource – John Hess 

OilNOW -
The 8th proposed Stabroek Block development could target 240,000 barrels per day (b/d) of production, according to Hess Chief Executive Officer, John Hess.  Longtail was confirmed as the next target following Hammerhead last December.  “We're all about bringing value forward so...
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Oil accounted for 94% of extractives revenue in 2022 – EITI report

OilNOW -
Guyana’s Extractive Industries Transparency Initiative (EITI) report for the fiscal year 2022 noted that the counytry's extractive revenues totaled US$1.58 billion (approx. GY$331.52 billion). The oil and gas sector contributed the majority, accounting for $1.49 billion (GY$313.19 billion) or...
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Guyana says Venezuela’s plan for election in Essequibo breaches peace accord and World Court order

OilNOW -
The Guyana government said an apparent plan by Venezuela to host an election in the Essequibo region is a clear violation of the Argyle Agreement - an agreement the two countries signed in December 2023 to keep the peace.  On...
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Guyana tops rankings in total oil discovered since 2015 – Rystad Energy

OilNOW -
Since 2015, Guyana has emerged as the global leader in oil discoveries, with unmatched volumes boosting its position in the energy sector, according to Rystad Energy. The Norway-based intelligence company ranked Guyana against 19 other countries. They estimate that Guyana’s...
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Offshore EPC contract awards projected to reach US$54 billion in 2025 amid challenges

The offshore oil and gas industry is expected to see a slight 1% year-on-year growth in engineering, procurement, 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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