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News

Enhanced oil and gas exhibit unveiled at Guyana’s National Museum; allows for 3D view onboard FPSO 

OilNOW -
Oil has become an important part of Guyana’s history, preserved and on view at the country’s National Museum as Stabroek Block operator ExxonMobil relaunched the new and improved oil and gas exhibit.  While many will not be able to travel...
News

Baker Hughes books over US$300M in new energy orders this year, nets US$5.7B for quarter 

OilNOW -
Oilfield service company Baker Hughes raked in US$5.7 billion in revenue as the first quarter of 2023 closed, with over US$300 million in new orders already secured.  In its earnings report for the quarter, Baker Hughes said the stronger-than-expected quarterly...
Exploration

Exxon conducting more drilling operations at prolific Fangtooth reservoir

OilNOW -
ExxonMobil is moving forward with more drilling operations at the Fangtooth SE-1 well site in the Stabroek Block offshore Guyana.   OilNOW understands the Stena Carron rig will be engaged in the drilling activities situated approximately 100.8 nautical miles (186.6...
News

SLB gets fresh impact study waiver from EPA for Guyana facility

OilNOW -
Schlumberger, now SLB, has been granted a fresh exemption from the requirement to conduct an Environmental Impact Assessment (EIA) for its source storage and calibration facility in Guyana, located at Houston, East Bank Demerara.  The first was quashed by the...
News

Guyanese marine player acquires majority stake in Bourbon joint venture 

OilNOW -
French offshore vessel player Bourbon said on Monday that Guyanese company Tethys Marine & Logistics, is now a 51% shareholder of the Bourbon Guyana Joint Venture. It said Guyanese now represent 75% of its directorship. A Guyanese company is defined...
News

Noble forging ahead with plans to increase local capacity in South America’s hottest basin 

OilNOW -
Building Guyana’s local capacity remains paramount to Noble Corporation, the driller with the most rigs in the ExxonMobil-operated Stabroek Block.  Noble said its four-year Local Content Master Plan draws on set targets to use locals where applicable and invest in...
News

World Court gives Venezuela one year to file counter Memorial in Guyana border case

OilNOW -
The International Court of Justice has given Venezuela one more year to file a counter Memorial in the ongoing border case with Guyana - April 8, 2024. The case centers on the legal validity and binding effect of the...
News

Liza field development lifetime to be extended to accommodate gas project  – VP

OilNOW -
The lifetime of Guyana’s first Stabroek Block development - Liza Phase 1 is set to be extended to accommodate the Gas-to-Energy (GTE) project, Vice President, Dr. Bharrat Jagdeo said.  The Liza permit is currently under review.  The GTE is set to...
News

Guyana to issue permit for Exxon’s Uaru project in 2-3 weeks – VP

OilNOW -
Guyana's Vice President Dr. Bharrat Jagdeo said the review of Exxon’s proposed Uaru project has been “practically” completed, and that final approval is expected in a maximum of 2-3 weeks.  Presently, the Ministry of Natural Resources is conducting its final...
News

Guyana’s updated model oil contracts for release this month 

OilNOW -
A two-week period of consultation was recently concluded on the indicative terms and guidelines of Guyana’s first ever offshore licensing round, and the draft model petroleum agreements. The government plans to release the updated models this month.  The deadline for...
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Latest News

NewsKemol King -

ExxonMobil’s Guyana profit jumps 62% to $4.7 billion in 2024

ExxonMobil Guyana Limited (EMGL) reported a profit of US$4.73 billion in 2024, up from US$2.92 billion in 2023. This...

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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