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Gas-to-Energy project on track for 2024 delivery – Jagdeo

OilNOW -
Guyana’s Environmental Assessment Board (EAB) has upheld a decision by the Environmental Protection Agency (EPA) to not require a separate Environmental Impact Assessment (EIA) for Guyana's upcoming 300 megawatts (MW) natural gas power plant. The power plant is expected...
News

Saipem secures lucrative offshore contracts in the Black Sea and North Sea worth US$850M

OilNOW -
Italian multinational company Saipem has been awarded two significant offshore contracts with a combined value of approximately US$850 million.  The contracts encompass an Engineering, Procurement, Construction, and Installation (EPCI) project in the Black Sea and decommissioning activities in the North...
News

Exxon commits to fulfill obligations, says won’t leave Guyana high and dry

OilNOW -
ExxonMobil Guyana’s President, Alistair Routledge has assured that Guyana is safe from liability should an oil spill occur in its offshore acreage as the company has a more than US$20 billion safety net protecting the South American nation.  At a...
News

NOV strengthens presence in Latin America with new wellsite service facility in Guyana’s oil and gas corridor

OilNOW -
American Multinational, NOV - a worldwide drilling and oil production equipment provider - has joined the list of companies looking to on Guyana’s oil and gas success.  The company opened its Wellsite Service/Tuboscope facility at Rome on the East Bank,...
News

Exxon must meet obligations, but we refuse to damage Guyana’s investment climate – Jagdeo

OilNOW -
Vice President of Guyana, Dr. Bharrat Jagdeo said that it is important for ExxonMobil to meet its obligations in the unlikely event of a spill offshore. However, he argued government will not support a process that damages the country’s...
News

Exxon to commence study on impacts of 6th proposed Guyana development

OilNOW -
Guyana's Environmental Protection Agency (EPA) has released the final terms of reference (TORs) for the Environmental Impact Assessment (EIA) which is to be conducted for ExxonMobil's sixth project offshore the South American country. Prepared by the Agency and London-based...
Exploration

Exxon keeps returning to Fangtooth discovery area

OilNOW -
The dual-activity dynamically positioned (DP3) drillship, Stena Carron, is undertaking operations in the deep waters off the Guyana coast in the ExxonMobil-operated Stabroek Block where a 7th development is being targeted. Guyana’s Maritime Administration Department (MARAD) said in a May...
News

Appeal Court Justice to conclude Exxon insurance case before June 10

OilNOW -
Guyana Justice of Appeal, Rishi Persaud, has set May 29 as the hearing date for the appeal of a Supreme Court ruling concerning financial assurance for ExxonMobil’s Stabroek Block operations.  Persaud met with participants in the case during a case...
News

Is Exxon’s profit waning? Here’s what analysts are saying

OilNOW -
Oil majors raked in big bucks in 2022. It was a great year for oil and gas profits. ExxonMobil Corp made a whopping US$55.7 billion in earnings for the full year, up from US$23 billion in 2021 – a US$32.7...
News

Yellowtail Development Fact Sheet

OilNOW -
Next up on ExxonMobil’s Stabroek Block development list is Yellowtail - one of the largest ever sanctioned. Coming in at US$10 billion, the project is running ahead of schedule; with the production vessel 45% complete and preparatory works progressing...
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Latest News

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IEA warns of major drop in oil investment as clean energy gains momentum

Upstream oil investment is expected to decline by 6% in 2025, marking the first drop since 2020 and the...

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