Exxon Mobil Corp ( XOM.N ) said on Wednesday its oil drilling and development activities offshore Guyana were unaffected by a weekend incident in which Venezuela’s navy stopped two exploration Continue Reading
Ten offshore oil discoveries since 2015 by an Exxon-led consortium, accounting for 5 billion barrels of crude, have turned Guyana, one of South America’s poorest nations, into one of the Continue Reading
Venezuela’s navy “intercepted” a ship exploring for oil on behalf of Exxon Mobil Corp ( XOM.N ) in Guyanese waters over the weekend, Guyana’s foreign ministry said in a statement Continue Reading
Owned by Norway’s Petroleum Geo-Services and bearing a Bahamian flag, the seismic-survey vessel was stopped by a Venezuelan Navy ship Saturday morning in Guyanese waters, about 90 miles from a Continue Reading
Total S.A. said Monday it dispatched a ship to begin drilling off French Guyana’s coast, and assured it won’t damage coral reefs in the area. The move comes just days Continue Reading
With population of fewer than 750,000 people, Guyana —a neighbor of Venezuela—has always depended on commodities. Sugar, gold, shrimp, timber, bauxite, and rice account for nearly 60 percent of this Continue Reading
. Gross discovered recoverable resources for Hess’s Stabroek Block has been revised upward to 4 million barrels of oil equivalent—up from the previous estimate of 3.2 billion barrels. “The Stabroek Continue Reading
A contract for a floating production vessel offshore Guyana marks the start of the second phase of development of the giant Liza oil field, SBM Offshore said. The offshore services Continue Reading
With trends on par with the Permian shale basin in the United States, Guyana is big enough to be transformative even for the supermajors, analysis found. Exxon Mobil Corp. and Continue Reading
The International Monetary Fund (IMF) is calling on the authorities of Guyana to revamp their tax laws for future oil contracts to protect themselves from unbalanced exploitation after massive Exxon Continue Reading
Guyana’s story shares many similarities with the story of the ugly duckling. One of the poorest countries in South America, it has historically been entirely dependent on oil imports. In Continue Reading
Production from offshore Guyana to more than a half million barrels per day is supported with the latest oil discovery, the seventh for a partnership. Exxon Mobil announced oil was Continue Reading
A string of major discoveries offshore Guyana has drawn hundreds of millions of dollars in a quest for crude. (Bloomberg) — The world’s hottest offshore prospect for oil companies is Continue Reading
ExxonMobil’s sixth “home run” oil find on the Stabroek block offshore Guyana in less than three years may not only push estimated recoverable reserves notably higher, but could further whittle Continue Reading
After dumping billions of dollars in assets to focus on one particular oil field in Guyana, Hess Corp. said Wednesday its net loss almost doubled year-over-year. Hess reported a net Continue Reading
Could ExxonMobil attain 2 billion-barrel oil reserves mark offshore Guyana? Exxon Mobil Corp. on Thursday reported its fifth new oil discovery after drilling the Turbot-1 well offshore Guyana with the Continue Reading
ExxonMobil said on Friday that it had made a final investment decision to proceed with the first phase of development of the Liza field offshore Guyana, which is expected to Continue Reading
A discovery ff oil by Exxon Mobil off the coast of Guyana suggests the country is emerging as the sector’s next major hot spot, a regional player said. Exxon announced Continue Reading
Exxon Mobil Corp said on Thursday drilling results from a third exploration well offshore Guyana showed a new reservoir containing 100-150 million barrels of oil equivalent. The discovery at the Continue Reading
Offshore Guyana ExxonMobil and its partner Hess Corp. have announced that the major discovery off the coast of Guyana, is a discovery that is much larger than previously expected. The Continue Reading
Crude deposit could be worth $70 billion at current prices Hess, CNOOC are partners in drilling 120 miles offshore Exxon Mobil Corp.’s oil discovery off the coast of Guyana may Continue Reading
Venezuela and Guyana dispute overlapping claims to their oil-prospective waters. (Credit: Shutterstock) Today ExxonMobil XOM +1.43% announced a big discovery at its new well offshore Guyana, called Liza-2. It builds Continue Reading
A well off the coast of Guyana holds a find that, with as much as 1.4 billion barrels of reserves, is considered transformative, Exxon Mobil said Thursday. Steve Greenlee, president Continue Reading
Photo A military parade in Georgetown, Guyana, this month. Guyana is in a dispute with Venezuela that dates to the 19th century over two-thirds of its land. Credit Meridith Kohut for The New York Times BARTICA, Guyana — At a little tin-roofed beer joint on the west bank of the Essequibo River, Rawle Huggins relaxed on a wooden bench and considered his tiny country’s escalating border spat with its much bigger neighbor, Venezuela . “Here is Guyana ,” said Mr. Huggins, a sometime gold miner, referring to the land beneath him and everything around it. “I don’t live in Venezuela . I live in Guyana . They live,” he added, gesturing beyond the jungle that fringes the town, “over there.” Bartica (pronounced BAR-ti-ca), a two-and-a-half-hour journey by car and boat from Guyana’s capital, Georgetown, is the jumping-off point for what the Guyanese call “the interior,” a sparsely populated region […]
By Kejal Vyas When it comes to Exxon Mobil Corp.’s recent oil discovery off the coast of Guyana, one that Venezuela claims as its own, Guyanese President David Granger has a clear message for the U.S. company: Full speed ahead. Mr. Granger, who took office days before Exxon announced the significant find last month, said that he met with officials from the company–which was contracted by Guyana–and offered assurances that exploration work won’t be interrupted, despite Venezuela’s recent revival of a century-old claim on two-thirds of Guyana’s territory. Guyana, a former British colony of 750,000 people and South America’s only English-speaking nation, is counting on diplomacy and the help of regional allies to resolve the matter. A Paris arbitration tribunal in 1899 had set the internationally recognized boundaries, but Venezuela sixty years later rejected the findings saying it was cheated. "We’re not going to send the navy out there […]
Exxon announces the finding of a significant volume of oil in the deep waters off the coast of Guyana. Photo by project1photography/Shutterstock IRVING, Texas, May 21 (UPI) — Exxon Mobil said it made what it described as a significant oil discovery in the deep waters about 120 miles off the coast of Guyana in the Caribbean. The company ran through a 295-foot column of oil reserves while drilling an exploration well in the Stabroek reserve area about 120 miles of the Guyana coast in 5,719 feet of water, "I am encouraged by the results of the first well on the Stabroek block," Stephen M. Greenlee, president of Exxon Mobil Exploration Co., said in a statement. "Over the coming months we will work to determine the commercial viability of the discovered resource, as well as evaluate other resource potential on the block." A report from the U.S. Geological Survey said […]
