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Guyana optimistic about becoming gas exporter as more projects come online – Vice President

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Guyana’s Vice President, Dr. Bharrat Jagdeo has confirmed that as more offshore projects come online, the South American country is hopeful of becoming an exporter of gas, or value-added products derived from gas. “Guyana is not looking to be a...
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Singapore Airlines to buy ExxonMobil’s sustainable fuel

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(Reuters) - Singapore's civil aviation authority and state-investor Temasek will support the city-state's flagship carrier Singapore Airlines in buying sustainable aviation fuel (SAF) from top U.S. oil producer Exxon Mobil Corp for use in flights, the parties said on Friday. Its...
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Government applauds first oil from Liza Unity FPSO; earnings set to triple

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The Government of Guyana through the Ministry of Natural Resources said on Friday that it welcomes the announcement by ExxonMobil on the commencement of production at Guyana’s second offshore Development from the Liza Unity FPSO.  The operation of the vessel...
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Exxon hits first oil at second Guyana development

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ExxonMobil said on Friday it started production at Guyana’s second offshore oil development on the Stabroek Block, Liza Phase 2, bringing total production capacity to more than 340,000 barrels per day in only seven years since the country’s first...
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‘Highly prolific quality reservoir’ targeted for Exxon’s 5th development in Guyana

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The South American country of Guyana is moving full steam ahead with the development of its vast hydrocarbon resources mainly at the prolific Stabroek Block, where U.S. oil major ExxonMobil has found over 10 billion barrels of oil equivalent...
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Brent at $91 but on track for first weekly decline in over a month

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(Reuters) Oil prices rose on Friday after the International Energy Agency (IEA) said oil markets were tight but were still heading for weekly losses on inflation worries and U.S.-Iran which could boost global supplies. Brent crude futures rose 39 cents,...
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First withdrawal from Guyana oil fund approved

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The National Assembly of Guyana approved the first withdrawal from the country’s Natural Resource Fund on Thursday afternoon, clearing US$607 million for spending. The withdrawal clears the fund of all revenue, as per the provisions of the new law, the...
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TotalEnergies pulls out of US Gulf of Mexico; cites better options elsewhere

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TotalEnergies, through its affiliate TotalEnergies E&P USA, Inc., on Thursday announced its decision to withdraw from the North Platte deepwater project in the US Gulf of Mexico. “The decision not to continue with the project was taken as the Company...
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SBM Offshore project portfolio at record level with multiple Guyana FPSOs in play

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Dutch floater specialist SBM Offshore reported on Thursday an Underlying Directional revenue of US$2,317 million for 2021, an increase of 1% compared with 2020, mainly resulting from ramp-up of activities with five FPSOs under construction in 2021, the awarded...
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Guyana oil production to peak in 2035, continue up until 2050

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Guyana has not yet scratched the surface when it comes to output at its vast offshore oilfields now under development by U.S. oil major ExxonMobil. In fact, of the more than 10 billion barrels of oil equivalent discovered so...
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Dredging in Demerara Channel to continue through 2025

The Maritime Administration Department (MARAD) announced that dredging works will continue in the Demerara Main Ship Channel and off...

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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