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Biden Administration secures over 50 million barrels for Strategic Petroleum Reserve

OilNOW -
The U.S. Department of Energy (DOE) announced the purchase of more than 3.4 million barrels of crude oil for the Strategic Petroleum Reserve (SPR) following contracts awarded for delivery to the Bryan Mound site from January through March 2025.  This...
Energy Insights

CCJ ruling confirms process by which Stabroek co-venturers apply for and are granted project approvals is lawful

OilNOW -
By Chevy Devonish In a previous article we examined how the Caribbean Court of Justice (“CCJ”) in Attorney General of Guyana v Environmental Protection Agency CCJ 16 (AJ) GY, to my mind, settled the important question of: Whether Guyana’s...
News

SBM Offshore and MISC exchange FPSO assets in Brazil and Malaysia

OilNOW -
Dutch shipbuilder SBM Offshore has signed agreements with Malaysia's MISC Berhad to exchange ownership interests related to two floating production storage and offloading (FPSO) vessels. The deal involves the FPSO Espirito Santo, operating in Brazil, and the FPSO Kikeh,...
News

bp divests mature Trinidad assets to focus on gas growth opportunities

OilNOW -
bp is selling its mature offshore gas fields in Trinidad and Tobago to focus on shallow water, deepwater, and cross-border gas opportunities. The company said it has entered into an agreement with Perenco to divest its Immortelle, Flamboyant, Amherstia,...
Exploration

Staatsolie targeting offshore bid round every year – Managing Director 

Shikema Dey -
Suriname’s state oil company Staatsolie plans to host an auction for every year until all of its offshore acreage is under contract.  Its Managing Director, Annand Jagesar, disclosed this to OilNOW in an exclusive interview at its headquarters in Suriname’s...
News

Greater Guyana Initiative drives economic growth and gender inclusion in energy sector – Exxon Advisor 

OilNOW -
Alicia Bess Anderson, Advisor for ExxonMobil Guyana, highlighted the profound impact of the Greater Guyana Initiative (GGI) during a recent episode of the Energy Perspectives Podcast. This initiative, a collaboration between Stabroek Block co-venturers Exxon, Hess and CNOOC, aims...
News

Unmet expectations about jobs could impact support for Suriname’s first deepwater development – ESIA

OilNOW -
With TotalEnergies starting the groundwork for Suriname’s first offshore oil development, the company in its environmental and social impact assessment (ESIA) underscored the importance of the country being realistic with its local content targets.  “Unmet expectations about employment opportunities may...
News

Staatsolie boss in favour of local content policy instead of law    

Shikema Dey -
Paramaribo, Suriname - As plans continue to move forward for Suriname’s first offshore oil production project, Managing Director of state oil company Staatsolie, Annand Jagesar, believes the country would do well with a local content policy instead of a...
News

Suriname’s first standalone gas project a possibility with promising finds at Block 52 

OilNOW -
Block 52 off the coast of Suriname is showing some promise with discoveries made by Malayasian operator, Petronas. So much so that the company is mulling what could be Suriname’s first standalone gas development.  Petronas already hinted at a floating...
News

Exxon to return portion of Stabroek Block to State: here’s what’s not included

OilNOW -
ExxonMobil is set to relinquish a portion of the 6.6-million-acre Stabroek Block in October, as it moves on to the final phase of the exploration period. The petroleum agreement governing operations at this block dictates that Exxon should relinquish at...
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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...

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