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SBM Offshore’s community initiatives in Guyana promote sustainability, local economies

OilNOW -
SBM Offshore’s role in Guyana goes beyond oil production, as its community engagement projects aim to create long-lasting impacts on local economies. While known for its floating production storage and offloading units and offshore capabilities, the Dutch shipbuilder is...
News

ExxonMobil sees 60% year-on-year production boost in Guyana

OilNOW -
ExxonMobil’s Chief Financial Officer, Kathy Mikells reported a 60% year-on-year increase in crude oil production offshore Guyana, during the third-quarter earnings call.  This growth contributed to an overall production rate across the company, of 4.6 million oil-equivalent barrels per day—its...
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Libra Consortium announces first oil at third FPSO in Brazil pre-salt

OilNOW -
Shell Brasil Petróleo Ltda. (Shell Brasil), a subsidiary of Shell plc, announced on Thursday the start of production of the floating production storage and offloading facility (FPSO) Marechal Duque de Caxias in the Mero field, in the pre-salt area...
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Noble Don Taylor continues drilling at Whiptail well site 

OilNOW -
The Noble Don Taylor is continuing developmental drilling at the Whiptail well site at Guyana’s Stabroek Block. Drilling operations began on October 23, according to a notice from the Maritime Administration Department (MARAD) and will conclude by November 30.  The...
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bp’s Q3 2024 profit declines amid lower margins and impairment adjustments

OilNOW -
bp has reported an underlying replacement cost (RC) profit of US$2.3 billion for the third quarter of 2024, down from US$2.8 billion in Q2. The decrease reflects weaker refining margins, lower liquids realizations, and weaker oil trading results, partially...
News

Hess reports Q3 gains with Guyana leading production growth

OilNOW -
Hess Corporation revealed a strong third quarter driven by expanded production in Guyana’s offshore Stabroek Block. The company reported net income of US$498 million, or US$1.62 per share, with adjusted earnings up to US$660 million, largely due to heightened...
News

CNOOC’s record production in Guyana boosts strong Q3 results

OilNOW -
CNOOC Limited announced its highest-ever net production and net profit for the third quarter of 2024, crediting increased output from projects like the Payara development in Guyana.  CNOOC’s total net production in the first three quarters reached 542.1 million barrels...
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Staatsolie head urges system be put in place to ensure Suriname benefits from oil boom  

OilNOW -
Suriname's anticipated oil boom could transform the country’s future, but good governance will be key, Staatsolie Managing Director Annand Jagesar cautioned in a recent interview with Dagblad De West. He highlighted that while oil revenues may begin to flow...
Guyana's Oil Ledger

ExxonMobil Guyana reached new monthly production high in September

Kemol King -
ExxonMobil is gradually increasing production offshore Guyana reaching an average of 660,000 barrels per day (b/d). Liza 1 and 2 averaged approximately 160,000 b/d and 251,000 b/d, while Payara averaged 249,000 b/d. These production levels resulted in output of nearly...
News

Guyana’s oil boom sparks maritime ambitions as new MatPal graduates drive nation’s deepwater vision

OilNOW -
Guyana’s maritime sector is poised for exponential growth alongside its burgeoning oil and gas industry, with a new generation of marine professionals stepping up to the challenge. Addressing the latest Marine Cadet Programme graduates from the MATPAL Marine Institute...
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Guyana, India to explore cooperation in hydrocarbons sector

Guyana and India signed memoranda of understanding (MoU) for cooperation in multiple sectors, including hydrocarbons. The signings were executed...

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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