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‘We are not going anywhere’, says Exxon on its Guyana operations

OilNOW -
U.S. oil major ExxonMobil reaffirms it has no intentions of leaving Guyana. “We are not going anywhere,” ExxonMobil Guyana said on Monday, December 11. Having discovered over 11 billion barrels of oil-equivalent offshore Guyana, and producing since 2019, ExxonMobil said “Our...
Exploration

Exxon focusing on developing oil resources in Guyana; no financial backing in play for border controversy  

OilNOW -
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...
News

South America’s newest producer sits among top nations for oil reserves per capita – IMF report highlights 

OilNOW -
The International Monetary Fund (IMF) has underscored Guyana's significant position among countries with the highest levels of oil reserves per capita worldwide, presenting a promising economic outlook compared to its historical trajectory. Commercially recoverable petroleum reserves in Guyana now exceed...
News

Keel-laying done for SBM Offshore’s fifth Fast4Ward vessel

OilNOW -
Shanghai Waigaoqiao Shipbuilding (SWS) has reportedly completed the keel-laying process for the fifth Fast4Ward floating production, storage, and offloading (FPSO) hull, just seven months shy of the initial steel cutting for the vessel. The FPSO was constructed based on SBM...
News

Gas strategy to position Guyana as centre of regional integration

OilNOW -
Guyanese regulators are in the process of finalizing the nation’s gas strategy, which will guide authorities in transforming the country into a hub for regional integration. Speaking on the importance of the strategy, President, Dr. Irfaan Ali recently reminded...
API

Guyana govt. eyes Stabroek block partners’ nearshoring jobs to give economy US$60 million annual boost

OilNOW -
Guyana’s President, Dr. Irfaan Ali, recently disclosed his interest in bringing closer to these shores some 2000 jobs the ExxonMobil-led consortium in the Stabroek Block contracts overseas. The Head of State believes giving these jobs to locals could lead...
News

Ali, Maduro to meet next week: Guyana maintains no deviation from ICJ 

OilNOW -
President Irfaan Ali has agreed to a proposed meeting with Venezuela’s President Nicolás Maduro set to take place next Thursday in St. Vincent & the Grenadines, facilitated by the Prime Minister of St. Vincent Ralph Gonsalves and observed by...
News

Russia calls for de-escalation of tensions in Guyana-Venezuela border controversy

OilNOW -
Maria Vladimirovna Zakharova, Director of the Information and Press Department of the Ministry of Foreign Affairs of the Russian Federation, issued a statement emphasizing Russia's close attention to the recent developments surrounding Essequibo. This comes in light of the...
News

CARICOM stands firmly with Guyana: calls for peaceful resolution at ICJ

OilNOW -
See full statement issued by CARICOM:  CARICOM Heads of Government met in caucus on Friday, December 8, to discuss the situation with regard to the Venezuela-Guyana border controversy and agreed to issue the following statement:  CARICOM firmly supports Guyana in pursuance...
News

“We cannot allow a situation like Ukraine in this hemisphere” – Ali

Shikema Dey -
The situation unfolding in Ukraine cannot be allowed to occur in this hemisphere.  Those were the words of Guyana’s President Irfaan Ali on Wednesday as he addressed Venezuela’s aggressive posturing and attempts to grab two-thirds of his country’s territory.  Russia invaded...
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Platts to launch tanker assessments for growing Guyana crude flows to Europe 

Global price-reporting agency Platts, part of S&P Global Commodity Insights, will introduce two new freight assessments on December 1...

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