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Trump reverses Biden’s LNG export and permitting restrictions in sweeping energy policy overhaul

OilNOW -
U.S. President Donald Trump reversed the pause on LNG export permitting applications and instructed expedited reviews of related projects as part of a broad energy policy overhaul.  In his ‘Unleashing American Energy’ executive order issued hours after his inauguration, Trump...
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Guyana gov’t allocates US$245 million to complete Gas-to-Energy project

OilNOW -
The Guyana government allocated US$245 million (GY$51 billion) for the Gas-to-Energy project in its 2025 budget. The landmark project will use offshore natural gas for power generation, reducing emissions and giving the government the fiscal space to slash consumer...
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Exploration licenses for new oil blocks to be issued in 2025 – Natural Resources Minister

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The Government of Guyana plans to issue exploration licenses for new offshore oil blocks this year, two years after launching a competitive bidding process for 14 blocks. The delay has prompted an apology from Natural Resources Minister Vickram Bharrat. “I...
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Guyana reaches 52 oil discoveries, Stabroek Block dominates with 46 by ExxonMobil

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Guyana has recorded 52 oil discoveries across its offshore blocks, with ExxonMobil leading the charge in the Stabroek Block, where 46 discoveries have been made. This was revealed by Guyana’s Finance Minister, Dr. Ashni Singh, during his 2025 budget...
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BOMESC secures contract for Suriname’s first deepwater FPSO topside modules

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BOMESC Offshore Engineering Company Limited has signed a contract with STS VOF to construct topside modules for Suriname’s first floating production, storage, and offloading (FPSO) vessel.  The deal, valued between RMB 750 million and 1 billion (approximately US$102 million to...
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US Energy Agency forecasts falling oil prices and slower production by 2026

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The U.S. Energy Information Agency (EIA) has released its latest Short-Term Energy Outlook (STEO), which now includes forecasts for 2026. The report assumes U.S. gross domestic product (GDP) will grow by 2% in both 2025 and 2026. Global oil prices...
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John Hess says political risk in Guyana “low” as elections approach

OilNOW -
John Hess, Chief Executive Officer of Hess Corp., is confident in Guyana’s stability ahead of the South American nation’s general and regional elections this year.  Hess holds 30% of the shares in Guyana’s Stabroek Block. CNOOC is a partner, and...
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Offshore EPC contract awards projected to reach US$54 billion in 2025 amid challenges

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The offshore oil and gas industry is expected to see a slight 1% year-on-year growth in engineering, procurement, and construction (EPC) contract awards in 2025, reaching US$54 billion, according to Westwood Global Insights.  This increase is supported by 53 field...
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Oil revenue to fund 37% of Guyana’s US$6.6 billion 2025 budget

Kemol King -
US$2.46 billion in revenue earned from Guyana’s fast-growing oil sector will fund 37% of Guyana’s 2025 national budget. The plan to fuel the country’s development in 2025 was announced on Friday, by the Senior Minister in the Office of...
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Stena DrillMAX wraps up Exxon assignment in Guyana

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ExxonMobil’s contracted fleet of drillships in Guyana now stands at five with the recent departure of the Stena DrillMAX which has completed its assignment. The Maritime Administration Department (MARAD) said the vessel left Guyana’s Exclusive Economic Zone in January.  The...
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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...

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