Representatives of both the Guyana government and main opposition party on Thursday refuted claims that Stabroek Block co-venturers ExxonMobil, Hess and CNOOC are shortchanging the country in quarterly royalty payments.
Economic Advisor in the opposition party, Elson Low, said that...
State-owned Brazilian multinational corporation Petrobras announced on Sunday that oil production got underway at the Sepetiba platform, in the Mero field, Libra block, in the pre-salt of the Santos Basin.
The company said this is Mero's third production system, with...
A massive infrastructure transformation and construction boom in South America’s lone English-speaking country are the most visible signs of the nation’s newfound wealth which is being delivered by huge oil fields under development offshore. And the latest World Economic...
ExxonMobil remains focused on developing the vast hydrocarbon resources offshore Guyana in keeping with the government's objective of moving these projects forward in a timely manner. The U.S. multinational says it is not playing a role in providing financial...
With oil production in Guyana set to hit 600,000 barrels per day (bpd) next year and cross the one million bpd mark by 2027, monetizing the large volumes of associated gas discovered to date at the ExxonMobil-operated Stabroek Block...
Analysts have said the significant sums Guyana is set to receive in oil revenue can make the country one of the richest in the world, per capita. The companies producing oil there are also set to receive massive returns...
Driven by increased production by an ExxonMobil-led consortium operating off of its coast, and strong demand for light sweet crude grades, the South American country of Guyana has gained a larger share of Europe's oil market this year.
Guyana's crude...
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...
Specialist market research and consultancy firm Westwood Global Energy Group says liquids production (crude, condensate and NGLs) is forecast at 100mmbpd by 2030, up 8% on 2022. This will be driven by increased crude production from deepwater areas, such...
Guyana’s Environmental Protection Agency (EPA) has put in place a series of robust measures to guide the Prosperity floating production storage and offloading (FPSO) vessel’s offloading operations for ExxonMobil’s Payara development project.
The project, set to come online soon, is...