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Consultant report key to gov’t decision on Liza Unity’s optimization plans  

Shikema Dey -
The Guyanese government is awaiting a report from independent consultant IKM Acona AS before deciding on ExxonMobil’s plans to optimize the Liza Unity floating production, storage, and offloading (FPSO) vessel.  IKM Acona provides comprehensive consultancy and project management services to...
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Guyana exported 225 crude lifts in 2024 – Minister 

OilNOW -
Guyana exported 225 crude lifts in 2024, as announced by Minister of Natural Resources Vickram Bharrat during a press conference on Tuesday.   Bharrat revealed that Guyana’s share was 28 lifts: seven from the Liza Destiny floating production, storage and offloading...
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Guyana pushing for oil companies to further reduce waiting period for payment to local contractors

OilNOW -
The 45-day timeline for Guyanese contractors to be paid by oil companies is still seen as too lengthy, so the government is looking to reduce this.  The payment timeline was initially 90 days; then it was reduced to 45 days...
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Six FPSOs targeting over five billion barrels of oil at Stabroek Block – Hess

OilNOW -
Hess Corporation has revealed that nearly half of the Stabroek Block’s massive 11.6-billion-barrel reserve will be tapped with six production vessels.  “With the six ships that we have already sanctioned, we're going to be developing over five billion barrels of...
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Over 1000 young people to benefit from GGI-funded projects – Agri Minister

OilNOW -
As part of its commitment to fostering capacity development across Guyana, the Greater Guyana Initiative (GGI) has partnered with the Ministry of Agriculture to develop sustainable and climate-resilient farming models. These models aim to accelerate food production while fortifying...
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ICJ ruling on Guyana/Venezuela border controversy expected by 2026 – Greenidge

OilNOW -
Former Foreign Minister of Guyana, Carl Greenidge, has expressed optimism that the International Court of Justice (ICJ) ruling on the longstanding border controversy between Guyana and Venezuela could be delivered by 2026. Greenidge, who is also an agent for Guyana...
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Exxon’s sole Guyana discovery for 2024 holds 500 million boe, says Rystad Energy

Shikema Dey -
ExxonMobil’s only discovery in the Stabroek Block in 2024 - Bluefin is estimated to hold some 500 million barrels of recoverable resources, according to Rystad Energy.  The Bluefin well encountered approximately 197 feet (60 meters) of hydrocarbon-bearing sandstone and was...
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Hess “very confident” merger will go through

OilNOW -
Hess Corporation is optimistic about its merger with Chevron, asserting confidence that the deal will overcome arbitration hurdles and close by the third quarter of 2025. The merger, valued for its strategic alignment, aims to create a leading oil...
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SBM Offshore seeks local suppliers for coverall production

OilNOW -
Guyana Deep Water Operations Incorporated (GDO), the local affiliate of SBM Offshore, has issued a Request for Information (RFI) to identify Guyanese manufacturers capable of supplying construction-grade coveralls. The company aims to engage local suppliers to meet its operational needs...
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Shell discovery setback won’t derail Namibia’s oil ambitions – Energy Minister

OilNOW -
Namibia's Minister of Mines and Energy, Tom Alweendo, has downplayed the impact of Shell's announcement that discoveries in Petroleum Exploration License (PEL) 39 are not viable for commercial development.  Shell determined that the oil discoveries were not commercially viable, leading...
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ExplorationOilNOW -

Guyana-Suriname Basin, Brazil among busiest regions this year for high-impact drill campaigns

High impact exploration drilling is expected to remain stable in 2025, with 65-75 wells targeted for completion, compared to...

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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