News

The global upstream oil and gas sector could generate a cash windfall of US$495 billion in 2026 if Brent crude prices average US$90 per barrel, according to Wood Mackenzie’s mid-year outlook published on July 28. The research firm said the...

TotalEnergies and Eni have taken the final investment decision (FID) for the development of the Cronos gas field offshore Cyprus, with first production targeted for 2028. The partners each hold a 50% interest in Cyprus offshore Block 6. The Cronos...

Saipem has identified its subsea contract for ExxonMobil Guyana’s Longtail development as one of its largest contract awards during the second quarter of 2026, according to the company’s first-half results released on July 27. The award was listed alongside other...

S&P Global Ratings affirmed Trinidad and Tobago’s long-term sovereign credit rating at “BBB-” on July 22, 2026, but maintained a negative outlook as economic growth remains weak and the country’s financial buffers continue to decline. The ratings agency also affirmed...

The Government of Guyana has received several international proposals to salvage the MV Barima, which remains on the seabed offshore Essequibo. Prime Minister Brigadier (Ret’d) Mark Phillips disclosed the offers during a press briefing on Tuesday, July 28. He said...

Saipem reported first-half 2026 new orders of €5.7 billion, a 33% increase compared with the same period in 2025, despite logistical and operational challenges linked to the conflict in the Middle East.  According to the Italian energy services company’s results...

Subsea installation activities have started for ExxonMobil Guyana’s Whiptail development in the Stabroek Block, ahead of the arrival and installation of the Jaguar floating production, storage and offloading (FPSO) vessel being constructed by SBM Offshore. ExxonMobil confirmed to OilNOW on...

Curaçao is seeking to expand its role in the regional energy sector by positioning itself as a logistics and maritime services hub for the growing offshore oil industries in Guyana and Suriname, according to the Curaçao government. The proposal was...

Opposition Members of Parliament (MP) staged a protest in the National Assembly on Monday afternoon, chanting for the dismissal of Public Works Minister Juan Edghill and Public Utilities and Aviation Minister Deodat Indar over the MV Barima tragedy, while...

Guyana and Suriname’s natural gas resources could support future energy exports as offshore development continues, according to Wood Mackenzie. In a video message posted on July 27, Adrian Lara, Principal Analyst for Upstream Latin America at Wood Mackenzie, said upstream...