Showing results for:

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

Eco Atlantic transfers stake in South African block to Africa Oil

OilNOW -
Eco (Atlantic) Oil & Gas has signed an assignment and share cancellation agreement with Africa Oil. Azinam, a wholly owned subsidiary of Eco, will transfer a 1% interest in Block 3B/4B offshore South Africa to Africa Oil.  This includes the...
News

Kaieteur Block failed to meet ‘investment hurdle’ – Exxon Official

OilNOW -
ExxonMobil's Vice President in Guyana, Philip Rietema, said that the company's decision to withdraw from the Kaieteur Block last year was driven by the project's failure to meet ‘investment hurdles’ given the complex realities of oil and gas exploration.  “We...
News

Guyana might have to abandon talks with some oil block awardees – Jagdeo

OilNOW -
Some of the groups Guyana identified as awardees after the country’s first offshore auction, may not end up receiving the blocks.  Guyana Vice President Bharrat Jagdeo said they “have difficulties finding the right partners and raising the fees.” The government...
News

Guyana can get more than US$2 billion guarantee from Stabroek CO-Vs in event of spill – EPA Head

OilNOW -
Kemraj Parsram, Director of the Environmental Protection Agency (EPA), said that if a spill occurs offshore Guyana and the government needs to tap a US$2 billion guarantee from the Stabroek Block consortium, it can negotiate additional sums. Parsram said that...
News

CNOOC secures offshore blocks in Mozambique

OilNOW -
China's oil and gas giant CNOOC Limited has expanded its operations with new petroleum exploration and production concession contracts (EPCCs) in Mozambique. The company gained access to five offshore blocks, covering approximately 29,000 square kilometers, with water depths ranging...
News

Petronas’ Block 52 tax holiday could see first Suriname gas project by 2031 – Rystad Energy

Shikema Dey -
Norway’s Rystad Energy sees Suriname’s first standalone gas project potentially materializing as early as 2031, at the Petronas-operated Block 52.  Aiding the Block 52 operator is the 10-year tax break it got from the South American nation in a recent...
News

Nine big companies vying for farm-in to Orinduik Block – Gil Holzman

OilNOW -
Chief Executive Officer (CEO) at Eco (Atlantic) Oil & Gas, Gil Holzman said there are nine companies vying to farm into the Orinduik Block.  “We are planning to finalise this process hopefully in the next couple of months. Depends on...
Exploration

Exxon to write off Kaieteur Block expenses

OilNOW -
ExxonMobil Guyana President, Alistair Routledge, said the company is writing off its Kaieteur Block expenses, having decided last year to withdraw from the license. In addition to the Stabroek Block, the company operates the Canje block and, up until...
News

Stabroek PSA delivers US$1.4 billion in profit oil, US$218 million in royalties, helps boost Guyana’s budget allocations

OilNOW -
Guyana's Natural Resource Fund (NRF) received a substantial sum of US$1.6 billion in royalties and profit oil revenues for the year 2023, as reported by Senior Minister with responsibility for Finance and the Public Service, Dr. Ashni Singh. This...
1...272829...326Page 28 of 326

Latest News

NewsOilNOW -

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...

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.

Quick Access

Company Info

Social Networks