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Nearly one in seven dollars of Exxon’s global profit came from Guyana in 2024

OilNOW -
ExxonMobil’s oil operations offshore Guyana earned it US$4.73 billion in profit last year. That accounted for nearly one in every seven dollars, or 14.04%, of the company’s global profit of US$33.68 billion in 2024, up from just US$0.63 billion...
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SBM Offshore targets GHG neutrality by 2025, advances emissions tools in Guyana

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SBM Offshore says it is on track to become greenhouse gas (GHG) neutral from its own operations by 2025 and to use 100% renewable energy by 2030 for scope 1 and 2 emissions. The company has already achieved a...
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MODEC, Carbon Clean sign MoU to advance FPSO-based carbon capture

OilNOW -
MODEC Inc. and Carbon Clean Solutions Ltd. have signed a memorandum of understanding (MOU) to accelerate the development and potential deployment of onboard carbon capture systems for offshore production vessels. This is according to a recent release from MODEC.  The...
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Shell hires Subsea7 to support Aphrodite gas development offshore Trinidad

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Shell has awarded a sizable subsea installation contract to Subsea 7 to support the development of the Aphrodite gas field offshore Trinidad and Tobago, the subsea engineering contractor said on Monday. The project, located in Block 5a within the East...
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Linden-Mabura road to soon link South America’s oil giants, boost trade and integration

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Guyana’s Linden to Mabura Hill road project will be spotlighted at the Caribbean-Brazil Summit on June 13 in Brasilia. The 121-kilometre roadway is being upgraded to link Guyana’s coast to its hinterland. It will also serve as a critical...
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A historic year for Suriname’s energy sector: From SEOGS 2024 to 2025

Işıl Güneş -
PARAMARIBO, SURINAME - Between the 2024 installment of the Suriname Energy Oil and Gas Summit and Exhibition (SEOGS) and its return this June, the country’s energy sector has experienced its most transformative changes to date.  Suriname is no longer standing...
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Trinidad looks to Shell for increased Manatee gas volumes

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Trinidad and Tobago’s Ministry of Energy and Energy Industries says it will work with Shell to explore opportunities to increase expected gas volumes from the Manatee field, as the government moves to tackle a domestic gas shortage and stabilize...
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Guyana seeks more carbon credit deals to fund climate goals

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Guyana is pursuing new carbon credit agreements to support its climate adaptation and mitigation efforts, Minister of Natural Resources Vickram Bharrat has confirmed. “We are open to engagement with any company,” Bharrat told S&P Global during an interview in April....
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IEA warns of major drop in oil investment as clean energy gains momentum

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Upstream oil investment is expected to decline by 6% in 2025, marking the first drop since 2020 and the steepest since 2016. This is according to the International Energy Agency (IEA) in its World Energy Investment 2025 report, released...
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Trinidad PM’s ‘deadly force’ warning to Venezuela sparks concern from Young about gas project

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Trinidad and Tobago’s Prime Minister Kamla Persad-Bissessar has warned that deadly force will be used against unidentified vessels entering the country’s waters from Venezuela, prompting criticism from former Prime Minister Stuart Young. Young warned that the move could jeopardize...
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Guyana hits record three-quarter million barrels of oil per day

Total offshore production from Guyana’s Stabroek Block has hit over 700,000 barrels of oil per day, President of ExxonMobil...

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