Discoveries

Exxon makes 5th oil discovery offshore Guyana

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Exxon Mobil Corporation (NYSE:XOM) announced on Thursday it made a fifth new oil discovery after drilling the Turbot-1 well offshore Guyana. Turbot is ExxonMobil’s latest discovery to date in the country, adding to previous discoveries...

BREAKING: Exxon discovers more oil at Payara; pushing total to 500 million barrels

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ExxonMobil Corporation today announced it has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total Payara discovery to approximately 500 million oil-equivalent barrels. The company said these positive well results increase the...

Repsol discovers massive oil field in Alaska

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Spanish oil company Repsol SA has discovered a giant oil field in Alaska, a potential find big enough to help stem production declines in the state. Repsol said two wells drilled this winter with Denver-based...

Global demand for oil could outstrip supply after 2020 unless new investments approved soon

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Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the...

BP finds 200 million barrels of oil in hidden cache

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(Houtson Chronicle) British oil major BP has discovered 200 million barrels of oil in a hidden cache in the Gulf of Mexico, thanks to a technological breakthrough allowing the company to see beneath geological...

Guyana could find more oil closer to shoreline

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Experts in the hydrocarbon industry believe that more oil could be discovered closer to Guyana’s shoreline in the coming years, raising the possibility of facilities being developed on land to process this commodity. Trinidad and Tobago’s...

Exxon to carry out exploratory work in newly acquired Kaieteur block, drilling to begin...

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US oil major ExxonMobil will soon begin preliminary exploration work in the Kaieteur block, an area adjacent to the Stabroek block offshore Guyana, which the company recently acquired. Drilling will also commence at the...

Oil Finds: We must get it right from the beginning

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Oil, an indispensable factor in numerous economies, account for about 2.5 percent of the world’s Gross Domestic Product (GDP). According to Forbes online, it accounts for one-third of the primary supply for the world’s...

Former Alberta Premier urges full transparency in Guyana’s oil & gas industry

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During the recent inaugural Oil and Gas Conference and Exposition hosted by the Guyana Oil and Gas Association (GOGA), held at the Guyana Marriott Hotel in Georgetown, (March 26-28, 2017) participants (including various stakeholder...

Oil Finds: Guyanese people need to benefit from resources

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The importance of Guyanese benefiting directly from what is believed to be significant commercial quantities of crude oil offshore the South American country is being emphasized by the head of a key entity representing...