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‘Guyana is not sitting still’ — President outlines aggressive maritime reforms to support oil-led growth

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With Guyana’s economy rapidly expanding on the back of its oil and gas sector, President Irfaan Ali has issued a clear signal to investors and regional stakeholders that the South American nation is not waiting to modernize; it’s already...
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Energy Chamber Head urges Guyanese youths to embrace long-term opportunities in oil sector 

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President of the Guyana Oil and Gas Energy Chamber (GOGEC), Manniram Prashad, has called on Guyanese youth to embrace energy careers as long-term, meaningful pursuits rather than short-term employment opportunities. “We envision a future where young people see careers in...
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ExxonMobil to meet Guyana vendors about its contracting processes

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ExxonMobil Guyana Limited (EMGL) will host a virtual meeting with local vendors on August 19 to discuss its contracting activity and procurement procedures, according to a notice issued by the company. The feedback session, scheduled to run from 9:00 a.m....
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Chevron secures prized stake in Guyana oil block with arbitration win against Exxon

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Chevron has won a high-stakes arbitration battle against ExxonMobil, clearing the way to finalize its US$53 billion acquisition of Hess Corporation and secure a 30% stake in Guyana’s Stabroek Block, a prized asset that has won global attention in...
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Analyst expects stricter local content rules, differences on how to manage oil revenues with new Suriname government

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Suriname’s new coalition government could face internal divisions over how to manage future oil revenues, an international analysis report predicted. This comes after the selection of Jennifer Geerlings-Simons as President, last July 6.  In a country risk report seen by...
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Hess gives back Suriname oil block at Guyana border

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U.S. oil company Hess has relinquished Block 59 offshore Suriname, a deepwater area located near the maritime border with Guyana, returning the acreage to Suriname’s Staatsolie, the state oil firm announced on Tuesday. “Hess fulfilled its minimum work obligations and...
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Local content policies in oil-producing countries: a comparative look with focus on Suriname

OilNOW -
Local content policies are increasingly used by oil-producing nations to ensure that petroleum extraction generates long-term economic benefits for local populations. These policies typically require international oil companies to prioritize hiring national workers, sourcing goods and services from local...
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‘Entirely misleading’ – ExxonMobil rejects media comparisons of IFRS profits and oil profit share

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ExxonMobil Guyana’s Vice President and Chief Financial Officer, John A. Colling, has rejected recent claims in the local media that the Stabroek Block Contractor Group manipulates accounting standards to inflate its financial results. In a letter published in the Stabroek...
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TT Energy Chamber flags long-term decline despite short-term gains in oil production

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The Energy Chamber of Trinidad and Tobago is urging serious reform in the country's energy sector following the release of first-quarter 2025 production data by the Ministry of Energy and Energy Industries. In a press statement on Monday, the Chamber...
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Saipem targets local content growth in logistics, fabrication for Suriname oil project

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PARAMARIBO, SURINAME – Saipem is setting the stage for major local content contributions in Suriname through its work on the second phase of the offshore GranMorgu project, according to Gianluigi Della Rossa, the company’s Country Manager for Guyana and...
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Ali signals more oil exploration with stronger Production Sharing Agreement

Guyana's President, Dr. Mohamed Irfaan Ali, has signaled that his administration will embark on an expanded exploration push. “We...

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