News

Suriname’s offshore GranMorgu oil project is progressing as planned, with overall development now 25% complete, according to Staatsolie. The update was released by the state oil firm on December 30. Staatsolie said construction of the floating production, storage and offloading...

Guyana is emerging as one of the world’s most strategically positioned oil producers. Expanding offshore reserves and easing geopolitical pressures are strengthening its position as a long-term energy powerhouse, according to Canadian energy strategist Steven Rowles. Speaking on BNN Bloomberg...

Chevron is positioning itself for rapid growth in Venezuela as the United States signals support for renewed investment following the country’s political transition, with US President Donald Trump urging major oil companies to pour US$100 billion into expanding Venezuelan...

Guyana’s crude oil grades have fallen to their lowest levels since the COVID-19 pandemic era, with prices dipping below US$60 per barrel in recent weeks, even as ExxonMobil’s fast-growing output and low breakevens keep the oil competitive. Data published on...

Oil production from Guyana’s Uaru field is expected to rise steadily after start-up, strengthening offshore supply over the medium term, according to S&P Global Energy CERA.  “…production at the ultra-deepwater Uaru field is estimated to begin in July at nearly...

ExxonMobil said market conditions and planned activities are expected to materially affect its fourth quarter 2025 results compared with the third quarter. This is according to a Form 8-K filing with the U.S. Securities and Exchange Commission on January...

A Trinidad and Tobago energy expert says a U.S. takeover of Venezuela could reopen the door for the stalled Dragon gas project and other cross-border developments critical to Trinidad’s gas supply. Responding to questions from Trinidad Express Business this week,...

Venezuela sits atop the largest proven oil reserves on the planet; yet, today its oil fields tell a story of abandoned rigs, crumbling infrastructure, and wary foreign investors who once lined up to drill.  The retreat of international oil companies...

Axess Group has secured a long-term Asset Integrity Management contract with Noble Corporation for operations offshore Guyana. The agreement covers inspection and certification services for four Noble drillships operating in Guyana’s offshore basin. The work is aimed at supporting safety,...

Guyanese-owned and operated information resource service, OilNOW, has once again been recognized for its coverage of developments in the country's oil and gas industry. The organization secured an award at the Georgetown Chamber of Commerce and Industry’s (GCCI) 136th...