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Guyana oil exports to generate US$16.8 billion in 2024 

OilNOW -
Guyana’s oil exports will generate US$16.8 billion in 2024, according to Ministry of Finance projections. This represents a steep increase from the US$11.6 billion generated from oil exports in 2023. The 2024 scenario would see oil accounting for 90% of...
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Liza field downtime to only last weeks, will not affect Exxon’s production targets  

Shikema Dey -
ExxonMobil will be taking the Liza field offline to hook up the pipeline for Guyana’s Gas-to-Energy (GtE) project in the latter half of the year, but this is only expected to last weeks.  “I would say it's going to be...
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Jagdeo hopes to wrap up audits of 24 years of Stabroek block expenses by yearend 

OilNOW -
Mid-2024, the Guyana government plans to contract an auditor to verify expenses claimed by the Stabroek block consortium for the period 2021-2023. This will add to two ongoing audit processes for expenses for the periods 1999-2017 and 2018-2020.  Vice President Bharrat...
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Exxon mulling options for Guyana’s 7th Stabroek Block project; potential gas development in play 

Shikema Dey -
Could Guyana’s seventh Stabroek Block development be based on another oil discovery, or perhaps, the first offshore gas project? Operator ExxonMobil has not decided. Why? According to its President, Alistair Routledge, “We have more than one horse in the...
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Guyana oil fund gets US$137 million in royalties, oil sales in January

OilNOW -
Guyana’s Natural Resource Fund (‘oil fund’) received US$137 million in deposits in January 2024, representing royalties and oil sales. The fund received GY$13.26 billion (approximately US$64 million) in quarterly royalties. The next quarterly payment of royalties is expected in April....
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TotalEnergies boosts Nigeria gas output with Akpo West tieback

OilNOW -
TotalEnergies has initiated production at the Akpo West field, located on the PML2 license in Nigeria.  This field, positioned 135 kilometers offshore, is connected to the Akpo floating production, storage and offloading (FPSO) unit, operational since 2009, which reported a...
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Stabroek block co-venturers to publish 2023 financials in Q224

OilNOW -
ExxonMobil, Hess, and CNOOC will publish financial reports of the 2023 earnings of their Guyana affiliates in the second quarter of 2024, said ExxonMobil Guyana President Alistair Routledge during a Feb. 7 press conference.  He was asked to provide a...
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Exxon says planned wells “clearly Guyana’s territory”

OilNOW -
ExxonMobil Guyana President Alistair Routledge told Bloomberg that planned drilling offshore Guyana in 2024 will be “well south” of the territory under contention between Guyana and Venezuela. Venezuela’s maritime claim rests along a “projected” 70-degree line out to sea from...
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Guyana seeking firm to conduct audit, validate profit oil share for 2021-2023 period

OilNOW -
Guyana’s Ministry of Natural Resources has issued a call for consultants to submit proposals for the auditing of recoverable contract costs and validation of profit oil share related to the Stabroek Block operations for the period 2021-2023. Preference will...
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Jagdeo anticipates US decision on US$660 million gas project loan in H1 2024

OilNOW -
Guyana's Vice President Bharrat Jagdeo said the government expects the United States Export-Import Bank (EXIM) to decide on a US$660 million loan request from Guyana in the first or second quarter of 2024. It is meant to support the...
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Trinidad PM’s ‘deadly force’ warning to Venezuela sparks concern from Young about gas project

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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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