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Ruling issued on Gas-to-Energy project dispute

OilNOW -
A ruling has been issued in the dispute between the Government of Guyana and Gas-to-Energy contractor, Lindsayca/CH4. The matter was referred to the Dispute Avoidance and Adjudication Board (DAAB) on September 19, 2024. In a statement on Monday, the Office...
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Baker Hughes awarded supply contract by ExxonMobil for Guyana FPSOs 

OilNOW -
ExxonMobil Guyana has awarded a contract to energy technology company Baker Hughes to supply specialty chemicals and related services to its Uaru and Whiptail offshore greenfield developments in Guyana’s Stabroek block.  Baker Hughes said the multiyear contract includes all topsides,...
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Petrobras closes 2024 with 11.4 billion of proven reserves 

OilNOW -
Petrobras ended 2024 with a proven reserve of oil, condensate, and natural gas estimated at 11.4 billion, according to the Securities and Exchange Commission (SEC) regulations.  Of the total, 85% account for oil and condensate while the remaining 15% accounts...
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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...
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‘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...
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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...
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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...
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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...
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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...
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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...
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TotalEnergies ready to spend ‘tens of millions’ for seismic, geophysical surveys in Guyana’s S4 Block – Exploration VP 

With the Petroleum License signed, TotalEnergies is gearing up to expend “tens of millions” in seismic and geophysical surveys...

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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