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ExxonMobil briefs City Council on Guyana offshore operations

OilNOW -
As first oil from the giant Liza field offshore Guyana draws near, ExxonMobil – operator in the 6.6 million acres Stabroek block - updated officials of the Georgetown Mayor and City Council on the company’s operations in the South...
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Price tag for Brazil oil blocks was too high – Petrobras CEO

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Brazil’s largest-ever auction of oil deposits conducted just over a week ago was a total flop and CEO of state-controlled Petroleo Brasileiro SA says that the astronomic price tag and regulatory uncertainties are to blame. World Oil reported that Petrobras...
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Oil development data could help fuel Guyana eco-tourism

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A wealth of data collected during the Environmental Impact Assessment (EIA) study for ExxonMobil’s third proposed offshore development in Guyana could help boost the South American country’s reputation as a prime bird-watching destination. Recently, OilNOW published an article that spoke...
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Saudi Aramco targeting up to $1.7 trillion in IPO valuation

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Saudi Arabia’s state-owned oil giant Aramco announced Sunday it will sell a 1.5% stake in the company as it looks to raise as much as $25.6 billion from the sale. The newly released figures also revealed a valuation for the...
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A subsea giant could be in the making with Saipem, Subsea 7 merger

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A merger between Italian-based Saipem – one of ExxonMobil’s Prime Contractors for its offshore project in Guyana – and UK-based Subsea 7 would create a subsea giant in the oilfield services industry. Commenting on unconfirmed reports that such a merger...
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Total announces first oil from Brazil’s offshore Iara license

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French oil giant Total announced on Friday first oil from the Iara license (Block BM-S-11A), located in the deepwater Santos Basin pre-salt in Brazil. According to a press release from the company, this development marks the start-up of the P-68,...
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Guyana must decide on pace of oil development – money now or later?

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Director of Guyana’s Department of Energy (DE), Dr. Mark Bynoe says the South American country of Guyana faces some tough decisions going forward as it relates to the pace of offshore oil development and that this must be taken...
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Chamber to launch Business Directory on Day 1 of GIPEX

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The Georgetown Chamber of Commerce and Industry (GCCI) will be moving to launch its Business Directory on the evening of the first day of the Guyana International Petroleum Exhibition and Summit (GIPEX) set to take place on November 20...
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Venezuela is secretly exporting millions of barrels of oil

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(Bloomberg) -- The Dragon, a massive oil tanker flying the Liberian flag, is supposed to be floating somewhere off the coast of France, according to its last GPS signal. Instead, it’s currently thousands of miles away in Venezuela where, under...
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Saipem clinches subsea contract for Payara project

OilNOW -
ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded a subsea contract to Saipem for the proposed Payara development project located in the Stabroek block offshore Guyana, at a water depth of around 2000 metres. Saipem said on...
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Q1 withdrawal from Guyana’s oil fund up 60% from last year’s

The Guyana government ramped up withdrawals from the country’s oil fund in the first quarter of 2025, taking out...

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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