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Chatham House researcher likens release of Global Witness report to ‘throwing bomb’ into elections fray

OilNOW -
Dr. Valerie Marcel, a researcher at think tank Chatham House, has criticized the recently published Global Witness report on Guyana’s oil agreement with ExxonMobil. In a series of tweets on Wednesday, Dr Marcel, who was part of a Chatham House...
News

Transparency body to receive first trades in oil data from Guyana’s Dept of Energy

OilNOW -
The Guyana Extractive Industries Transparency Initiative (GYEITI) will soon be receiving information regarding Guyana’s first trades in oil now that the country has commenced production. The local EITI chapter, headed by Dr Rudy Jadoopat, held a meeting with the Department...
News

Petrobras to sell stake in Brazil field

OilNOW -
(Zacks) Petrobras PBR and minority partner Chevron CVX announced plans to sell their stakes in the Papa-terra deep-water oilfield located in Brazil’s Campos Basin. Per Petrobras, the plan is in sync with its strategy to cut costs and improve capital...
News

Saipem signs MoU with Gulf Petrochemical Industries Company

OilNOW -
Italian firm Saipem has signed a Memorandum of Understanding (MoU) with Gulf Petrochemical Industries Company (GPIC), a joint venture equally owned by the National Oil and Gas Holding Company in the Kingdom of Bahrain, SABIC Agri-nutrient Investments in the...
News

Guyana collecting royalties in cash; all oil revenues being deposited into Federal Reserve Bank – Dr. Bynoe

OilNOW -
The first tanker has sailed and Guyana is now among the oil producing countries of the world. Annual revenue is set to move from around US$300 million in the first years to US$10 billion per annum by 2030. “The economic...
News

US$10 billion a year by 2030 takes Guyana from 0 to 100 in transformational potential

OilNOW -
Even as debate rages on in the South American country of Guyana on whether revenues flowing to the government from oil production could have been higher, the small nation of just over 750,000 people is set to cash in...
News

Guyana’s revenue take pegged at 60% as production set to hit 1.2 million bpd – Rystad Energy

OilNOW -
The economic fortunes of Guyana, with a population of only around 800,000, are poised for a major transformation after its first-ever oil development commenced production just six weeks ago. Offshore oil production is expected to grow rapidly in the...
Exploration

Over 50 prospects identified on Suriname’s Block 58

OilNOW -
Apache Corporation has identified over 50 prospects on Block 58 offshore Suriname where it has made the first deepwater discovery in the South American country in an area that runs parallel to ExxonMobil’s prolific Stabroek Block offshore Guyana. The Maka...
News

BP enjoyed its best year in oil and gas trading since 2009

OilNOW -
(Bloomberg) BP Plc enjoyed its best year trading oil and natural gas since 2009, helping the company weather the impact of lower energy prices and weak refining and chemical margins. The oil major runs one of the world’s most sophisticated trading...
News

Trinidad cancels gas deal over US sanctions on Venezuela

OilNOW -
(Reuters) Trinidad and Tobago has cancelled an agreement with Venezuela for the joint development of a natural gas field straddling their maritime border because of United States sanctions on Venezuela's state energy giant Petroleos de Venezuela SA (PDVSA). The Caribbean...
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Guyana's Oil LedgerKemol King -

Guyana’s May oil output hits new high as Liza 2 and Payara ramp up

Guyana’s offshore oil production reached a new milestone in May 2025, averaging an all-time high of 667,000 barrels per...

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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