By Arthur Deakin - OilNOW The recent merging of oil and gas companies in the U.S. indicates that energy majors see a long-term future for specific hydrocarbons in the energy transition. Chevron’s announcement of their US$53 billion all-stock acquisition...

Guyana’s Ministry of Natural Resources has affirmed that the Payara project will bring substantial benefits to the people of Guyana. This development is a major advancement of ExxonMobil’s output ramp-up strategy for the South American country. “Commencement of production at...

Guyana’s Natural Resource Fund (NRF) has surpassed the US$2 billion mark, in market value, for the first time since its 2019 inception, according to an October report from the Bank of Guyana. In October, the Fund received approximately US$192.99 million...

ExxonMobil announced on Tuesday that it has started producing oil at the massive Payara Development Project offshore Guyana, bringing total production capacity to approximately 620,000 barrels per day (bpd). The Prosperity floating, production, storage and offloading (FPSO) vessel is expected...

Vice President of Guyana, Dr. Bharrat Jagdeo said during a recent media conference that the government wants ExxonMobil to move faster on the matter of developing the country’s growing gas assets. “We are not pleased with the pace at which...

The approval of Guyana’s third Stabroek Block development - Payara - in 2020 was a significant step forward, with one research and intelligence firm calling it one of the brightest lights in oil’s dark year. It came at a...

The on-time delivery of the Prosperity floating production, storage and offloading (FPSO) vessel and the award of a new front-end engineering and design (FEED) contract for the Whiptail development project are among the key accomplishments noted by SBM Offshore...

ExxonMobil Guyana and SBM Offshore have completed the transaction related to the purchase of the Liza Unity floating production, storage and offloading (FPSO), just months ahead of the end of the maximum lease term, in February 2024. Announcing the completion,...

A high-level team from Japanese shipbuilding company MODEC recently met with Guyana's Foreign Secretary, Robert Persaud in Tokyo, where an update on its local content plan and project operations were discussed. Persaud was at the time on a visit...

The absence of major American companies operating in Guyana could create a vacuum that would allow for other players, such as Chinese-backed enterprises, to fill the gap. So says six-time Emmy Award-winning TV producer, Arick Wierson, in a November...