Guyana is quickly becoming one of the hottest new oil frontiers on the planet. It is estimated that over 11 billion barrels of recoverable oil resources have been discovered in Continue Reading
ExxonMobil is continuing with its incredibly precise exploration of Guyana’s Stabroek block with two new discoveries southeast of the Liza and Payara developments. U.S. supermajor ExxonMobil is continuing with its Continue Reading
Exxon Mobil Corp (XOM.N) on Tuesday said it has made two new oil discoveries offshore Guyana and that it has already exceeded, in July, its 2022 production target for the Continue Reading
Guyana’s government oil and gas revenue is set to surpass $1 billion in 2022. Guyana may see $7.5 billion in annual oil and gas revenues by 2030. Guyana is the Continue Reading
Guyana’s revenue from domestic oil and gas production is on track to break the $1 billion mark this year and accelerate to $7.5 billion annually in 2030. As the burgeoning Continue Reading
In the coming years, upstream capex in Latin America will shift into deeper and deeper water with Brazil, Guyana, and Mexico likely to lead the charge for new spending. In Continue Reading
Over 11 billion barrels of oil and gas found off Guyana Country wants to accelerate production to develop economy Hopes to negotiate more favorable contracts for next phase New offshore Continue Reading
Guyana’s oil industry is booming thanks to a number of massive discoveries. Exxon is leading the charge on this new oil frontier. The former British colony will materialize as a Continue Reading
The Guyana-Suriname oil basin may hold much larger reserves than anticipated. Suriname is looking to replicate Guyana’s oil boom through 2030. Low projected breakeven prices and discoveries of light to Continue Reading
New oil findings at a deeper layer in Guyana’s seabed could help adding billions of barrels to what is already the world’s largest oil discovery in 20 years, Hess Corp Continue Reading
Guyana has started discussions with Exxon Mobil Corp (XOM.N) to build a more than 120-mile (190-km) natural gas offshore pipeline, Natural Resources Minister Vickram Bharrat said on Tuesday at the Continue Reading
Exxon has made three discoveries offshore Guyana and increased its recoverable resource estimate for Stabroek to nearly 11 billion oil-equivalent barrels. U.S. oil supermajor ExxonMobil has made three new discoveries Continue Reading
Guyana considers creation of state-run oil company. Guyana President: diversifying Guyana’s economy is crucial. Guyana will look for a “strategic partner” to run a state-run oil company. The world’s newest Continue Reading
Guyana is on track to produce more than 1 million bpd of crude by 2027. The size of the Guyana-Suriname basin may be bigger than anticipated. Besides deepwater oil, Suriname Continue Reading
Exxon has made a final investment decision for the Yellowtail development offshore Guyana after receiving government approval. U.S. supermajor ExxonMobil has made a final investment decision for the Yellowtail development Continue Reading
Exxon Mobil Corp (XOM.N) on Friday received approval to begin work on its fourth offshore oil project in Guyana from the South American country’s Environmental Protection Agency. The permit will Continue Reading
Guyana is going through an impressive oil boom, with the country on track to produce over a million barrels per day by 2030. Unfortunately, the small country’s production will take Continue Reading
The discovery of huge oil reserves in Guyana has the potential to transform the country, although it will have to work hard to avoid the resource curse that has hit Continue Reading
Exxon plans to begin oil production from a second platform offshore Guyana next month New platform would increase Guyana’s production threefold ExxonMobil and Hess Corp. have recently made their 20th Continue Reading
Frontera Energy struck oil in the Corentyne Block offshore Guyana, the company said this week. “Initial results from the Kawa-1 well are positive and reinforce CGX and Frontera’s belief in Continue Reading
Guyana’s recent oil discoveries could not have come at a better time for the country, with international companies looking to move away from traditional oil-producing states A new law passed Continue Reading
ExxonMobil has made two more discoveries in the Stabroek block offshore Guyana, which add to the previously announced 10 billion oil-equivalent barrels recoverable resource estimate for the block, the U.S. Continue Reading
The Parliament of Guyana, where more than 10 billion barrels of oil equivalents have been discovered over the past half-decade, voted this week to amend its Natural Resource Fund (NRF) Continue Reading
Exxon Mobil Corp outlined a major new investment in Guyana amid government calls for delivering economic benefits to residents from deepwater oil and gas discoveries helping turn the South American Continue Reading
The tiny South American nation of Guyana has emerged as the hottest offshore drilling location on the continent over the last six years. The swathe of oil discoveries made by Continue Reading
Guyana’s oil boom has the potential to turn the South American nation into one of the richest countries in the world on a per capita basis The country has to Continue Reading
SBM Offshore has been awarded contracts to perform FEED for an FPSO for the Yellowtail development project offshore Guyana. FPSO operator SBM Offshore has been awarded contracts to perform front-end Continue Reading
Exxon Mobil (XOM.N) is in discussions with Dutch contractor SBM Offshore NV (SBMO.AS) to build a fourth multibillion-dollar production unit to develop its Guyana oil discoveries, two people close to Continue Reading
Exxon’s operations offshore Guyana are proving to be highly profitable Breakeven costs for its projects are expected to drop from $35 per barrel to $25 per barrel, an industry low Continue Reading
Exxon Mobil Corp’s (XOM.N) second floating production system for Guyana, the Liza Unity, arrived early on Tuesday in the South American country’s waters, the U.S. oil company said. The production Continue Reading
Guyana became a major holder of oil and gas reserves in 2015 when ExxonMobil found oil in its waters. Guyana wants to use the large oil and gas discoveries over Continue Reading
Exxon has increased its estimate of the discovered recoverable resource for the Stabroek Block off Guyana to around 10 billion oil-equivalent barrels after striking oil there one more time. Supermajor Continue Reading
Since the controversial 1899 decision which set the border between Venezuela and Guyana, Caracas has repeatedly contested the ruling, claiming the 61,000 square miles west of the Essequibo river belongs Continue Reading
ExxonMobil has made another oil discovery on the Stabroek Block offshore Guyana, its 20 th significant crude discovery on the block, the U.S. supermajor and its partner on the block, Continue Reading
The oil market has come through some tough sledding the last 6-8 weeks as doubts about the commitment of OPEC+ to the newly agreed output limits, and the surging Delta Continue Reading
Experienced crude oil marketer wanted Guyana is expected to pick its new crude oil marketer from a list of 15 companies that submitted bids to the procurement authority of the Continue Reading
Guyana and Suriname, the new stars on the oil map, are expecting more exploration drilling over the next two years after a string of discoveries revealed the potential of the Continue Reading
Guyana will develop its massive oil and gas discoveries with full environmental protections, a top official told a U.S. energy conference on Tuesday, pushing back against calls for energy providers Continue Reading
Highlights Two wells drilled simultaneously on Stabroek block Encountered 246 feet and 167 feet of net pay Adds to block’s 9 billion boe total resource estimate An ExxonMobil-led consortium has Continue Reading
Guyana is continuing to build its reputation as the new oil hub of the Americas, with more oil firms seeking a stake in the country’s oil fields where it seems Continue Reading
The deeply impoverished former English colony of Guyana has become one of the world’s hottest offshore drilling locations. Global energy supermajors have made a slew of major oil discoveries in Continue Reading
Liza Phase 2 production startup slated for early 2022 Six drillships active in the Stabroek block Liza crude exports heading to China, Netherlands ExxonMobil said June 9 it made a Continue Reading
ExxonMobil has revised upward its 2025 crude oil production in Guyana on the back of its fourth deepwater project there. Under new estimates, Exxon expects to produce 800,000 bpd by Continue Reading
Nowadays one of the main buzz stories of the crude market has been focusing on Indian oil demand slumping as a consequence of the COVID-19 surge. As painful as India’s Continue Reading
Oil majors may be slashing spending and deferring development plans across the globe, but they remain committed to developing the newest offshore oil finds in the heart of Latin America. Continue Reading
ExxonMobil and its partner Hess announced on Tuesday a new oil discovery in the Stabroek Block offshore Guyana that would add to the already announced 9 billion oil-equivalent barrels in Continue Reading
The tiny South American nation of Guyana is poised to become one of the leading offshore drilling jurisdictions in South America. Global energy supermajor Exxon, has established a dominant foothold Continue Reading
Guyana has estimated its future oil production at 1 million barrels per day by 2027, from seven floating production, storage, and offloading (FPSOs) vessels in country, according to natural resources Continue Reading
Offshore oil and gas drilling is set for a rebound this year following a major 2020 pullback when exploration and production companies deferred many activities due to the pandemic and Continue Reading
After a series of notable oil discoveries in offshore Guyana and then Suriname over the last six years the impoverished South American nations became a focal point for offshore drilling Continue Reading
