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“We have not been scared away by Venezuela” says head of Exxon’s Guyana operations

Shikema Dey -
Unbothered seems to be the position of ExxonMobil Guyana Limited (EMGL) in response to the recent grandstanding by Venezuela - the Nicolas Maduro-led nation laying claim to two-thirds of Guyana’s territory.  Irked by the news of the bid round, Venezuela...
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TT now allowed to pay Venezuela for Dragon gas as U.S. govt. amends license

OilNOW -
The U.S. government has amended the Dragon gas license to allow Venezuela’s state-run PDVSA to receive payment from Trinidad and Tobago in any currency or in humanitarian aid.  The United States had said any cash payments to the Venezuelan government...
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Field development plan submitted for Whiptail project

OilNOW -
ExxonMobil has submitted its field development plan (FDP) for the massive Whiptail project - its sixth for the Stabroek Block offshore Guyana. This is according to ExxonMobil Guyana Limited's (EMGL) President, Alistair Routledge. "...so that has commenced the process...
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Highly likely Corentyne Block could be in production by 2030 – Bharrat 

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High hopes exist in Guyana for oil production outside of the Stabroek Block.  This is evidenced by recent statements from the Minister of Natural Resources, Vickram Bharrat who said that the Corentyne Block could move to production in the next...
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“Very few historic precedents for this kind of growth in Guyana” – Finance Min.

OilNOW -
The International Monetary Fund (IMF)’s recent report forecasted a 38.4 percent real Gross Domestic Product (GDP) growth rate for Guyana in the current year, with expectations of a continued expansion at 26.6 percent in 2024. Notably, Guyana stands alone...
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ExxonMobil’s Pioneer acquisition propels it to world’s first “Megamajor” in upstream industry – WoodMac

OilNOW -
In a move that has reverberated across the energy sector, ExxonMobil has solidified its position as the world's first "Megamajor" in the upstream industry through the acquisition of Pioneer Natural Resources for US$64.5 billion.  The deal, according to Wood Mackenzie,...
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Four years after shipping first barrel, Guyana on its way to big league of top oil producers

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Guyana, a relative newcomer to the global oil industry, is making strides in terms of its oil reserves and production capabilities. Since its first commercial oil discovery in 2015, the country has become a significant player in the sector,...
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Suriname on the verge of “missing the bus” – Guyana VP

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Suriname’s window of opportunity to reap the full benefits of its offshore oil and gas sector is closing fast, said Guyana's Vice President Bharrat Jagdeo during an October 12 press conference. Jagdeo was asked to respond to reports about Guyana...
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Guyana gets US$85 million from sale of profit oil lift in September

OilNOW -
In September 2023, Guyana's natural resource fund (NRF) saw a revenue inflow of US$85 million (approximately GY$17.78 billion) from the sale of a single lift of profit oil from ExxonMobil’s Stabroek block production.  According to the Bank of Guyana, the...
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Liza Destiny quickest to peak production among Guyana, Brazil FPSOs – S&P Global

Shikema Dey -
The timeframe to ramp up Guyana projects to peak production is significantly less than neighboring Brazil, according to S&P Global Commodity Insights.  There are only two floating production, storage and offloading (FPSO) vessels operating offshore Guyana, in the Stabroek Block...
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Chinese oil and gas giant CNOOC eyes greater role in Trinidad and Tobago’s energy sector

Executives from China National Offshore Oil Corporation (CNOOC) this week met with Trinidad and Tobago’s Ministry of Energy and...

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.

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