News

News

Exxon’s Yellowtail project could start producing oil in third quarter 

OilNOW -
Darren Woods, Chair and Chief Executive Officer of ExxonMobil, says the Yellowtail project could begin production in the third quarter of 2025. During Exxon’s 2024 earnings call, Woods said, "the team managing the Guyana development continues to demonstrate project after...
News

‘Sun won’t shine, wind won’t blow forever’, hydrocarbons needed to power energy future – NJ Ayuk

OilNOW -
Paramaribo, Suriname - The world cannot rely solely on renewable energy to power its future, as hydrocarbons remain essential for energy security and industrialization, says NJ Ayuk, Executive Chairman of the African Energy Chamber. Speaking at the Suriname Awareness...
News

Guyana could issue two licences this year: one for oil and one for gas

OilNOW -
The Guyana government has set a target in its 2025 plan to issue two petroleum licenses. According to Vickram Bharrat, the Minister of Natural Resources, one of these could potentially be for natural gas.  “The two that are expected to...
News

EOG Resources Ltd. secures Production Sharing Contracts in TT

OilNOW -
The Ministry of Energy and Energy Industries (MEEI) has awarded Production Sharing Contracts (PSCs) for Blocks NCMA 4(a) and Lower Reverse L to EOG Resources Limited. The contracts were signed on January 29, by Stuart Young, the Minister responsible.  The...
News

Exxon sees highest net production in over 10 years, driven by Guyana and Permian

OilNOW -
ExxonMobil said net production in 2024 was the highest in ten years at 4.3 million oil-equivalent barrels per day (b/d), a 16% increase (595,000 oil-equivalent b/d) from 2023.  This forms part of Exxon’s 2024 earnings report, which says the increase...
News

Oil to generate 89% of Guyana’s export value in 2025

OilNOW -
The Guyana government projects crude oil will account for 89% of its exports in 2025, as oil continues to grow at a faster pace than other export-focused sectors. It represented 68% of exports in 2021 and has subsequently held...
News

Stena Drilling secures TotalEnergies contract for Suriname well

OilNOW -
Stena Drilling has been awarded a contract by TotalEnergies to drill a well in Suriname, the Aberdeen-based company announced on Wednesday. The Stena Drillmax will begin operations in Suriname in the second quarter of 2025  under a one-well program, with...
News

Guyana’s oil fund earned US$141 million in interest in 2024 

OilNOW -
Guyana’s Natural Resource Fund (NRF) earned US$141 million (GY$29.5 billion) in interest income in 2024, according to the government. This represents a 63% increase from the approximately US$87 million (GY$18.1 billion) earned in 2023.   The Fund, which holds Guyana’s revenue...
News

Guyana’s hydropower project pushed to 2029, as Gas-to-Energy advances – Finance Minister

OilNOW -
The Amaila Falls Hydropower Project, long regarded as a flagship initiative in Guyana’s transition to clean energy, has been postponed to 2029 as the country prioritizes its Gas-to-Energy (GtE) development to address increasing power demand.  This was confirmed by the...
News

Hess reports higher Q4 2024 earnings amid increased production in Guyana and Bakken

OilNOW -
Hess Corporation reported a net income of US$542 million, or US$1.76 per share, for the fourth quarter of 2024, up from US$413 million, or US$1.34 per share, in the same period of 2023.  On an adjusted basis, net income stood...
1...646566...1,017Page 65 of 1,017

Latest News

NewsOilNOW -

Ali names 25-member cabinet; Vickram Bharrat back at oil ministry

President Irfaan Ali of Guyana unveiled 25 ministerial Cabinet appointees on Saturday evening, as the government embarks on its...

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.

Quick Access

Company Info

Social Networks