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Bharrat: Local Content law not a shield for mediocrity or overpricing

OilNOW -
Guyana’s Minister of Natural Resources, Vickram Bharrat, has warned that the country’s Local Content law must not be misused by local companies as a cover for poor standards or inflated costs.  “The local content legislation, by no means, is protection...
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Local Content value to surpass US$847M in 2025 — Pertab

OilNOW -
The Local Content Secretariat expects the value of local content in Guyana's oil and gas sector to exceed US$847 million in 2025. This marks an increase of nearly US$104 million over 2024. Director of the Secretariat, Dr. Martin Pertab, said...
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Hess to return 94% of net undeveloped acreage to Guyana and Suriname by 2028

OilNOW -
According to its 2024 annual report, Hess Corporation plans to return 94% of its net undeveloped acreage, primarily to Guyana and Suriname, over the next three years.  In Guyana, Hess has a 30% stake in the 6.6-million-acre Stabroek Block. A...
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Stabroek Block delivered 8 successful wells in 2024 – Hess

OilNOW -
ExxonMobil drilled eight successful exploration and appraisal wells in the Stabroek Block last year, according to Hess’s latest annual report.  All eight wells “encountered hydrocarbons”, Hess said. There was “one unsuccessful exploration well for which the well costs were expensed.”  This...
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Energy Chamber of TT urges gov’t to focus on gas fields in EEZ after U.S. pulls Venezuela cross-border licenses

OilNOW -
The Energy Chamber of Trinidad and Tobago (TT) has stated that the country must urgently pursue natural gas opportunities in its exclusive economic zone (EEZ). This comes as the United States government revoked two OFAC special licenses for the Dragon...
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Hess’ Guyana assets beat U.S. oil output second year in a row

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Hess’ Guyana net oil production in 2024 beat its U.S. output for the second time, the company said in its annual report.  Net Guyana output for Hess’ 30% stake in the Guyana Stabroek Block was 68.136 million barrels in 2024,...
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US kills licenses for Trinidad and Tobago’s cross-border gas projects with Venezuela 

OilNOW -
The United States government has revoked the licenses granted to Trinidad and Tobago for the Dragon and Manakin-Cocuina cross-border gas fields. Prime Minister Stuart Young made the announcement during a press briefing at Whitehall on April 8 at 4:45 p.m.,...
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Second local catering consortium to launch this year – Local Content Head

Shikema Dey -
By mid-2025, a second local catering consortium is anticipated to launch, targeting Guyana’s oil and gas industry. Dr. Martin Pertab, Director of the Local Content Secretariat, made this announcement at the Local Content Summit. Dr. Pertab said discussions with international...
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Ali: Guyanese must invest in the country’s energy future 

Shikema Dey -
President Dr. Irfaan Ali made a strong call for Guyanese investors to directly participate in the country’s booming energy sector. Speaking at the 2025 Local Content Summit, Ali laid out a strategy centered on local ownership, risk-sharing, and new...
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Oil exports largely responsible for Guyana’s trade surplus with U.S.

OilNOW -
Guyana’s export of oil is largely responsible for the country's trade surplus with the United States. This surplus was a deciding factor in the recently announced tariffs by President Donald Trump which has resulted in the application of a...
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Guyana’s offshore growth among drivers of US$197 billion regional oilfield spending – Rystad Energy

South America will sustain strong final investment decision (FID) momentum through 2030, leading to a cumulative US$197 billion in...

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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