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Exxon executive affirms stability in Guyana outlook regardless of arbitration outcome

OilNOW -
ExxonMobil’s Senior Vice President Neil Chapman said Thursday that operations and investment plans in Guyana remain “100% aligned” among the Stabroek Block partners, despite an ongoing arbitration that could impact the ownership structure of the prolific offshore asset. “Zero change,”...
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How Suriname compares to Guyana: Lessons from a neighbor’s oil journey

OilNOW -
Just across the Corentyne River, Suriname is watching. It has seen Guyana go from oil discovery to oil power in less than a decade, GDP booming, rigs multiplying and an international attention growing. But where Guyana surged ahead, Suriname...
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Guyana will become one of top five LatAm oil producers this year with startup of Yellowtail FPSO – Wood Mackenzie

OilNOW -
Guyana is on track to become one of the top five liquid-producing countries in Latin America (LatAm) in 2025, according to Amanda Bandeira, a Research Analyst at Wood Mackenzie. “Production keeps growing, and exploration drilling is intensifying again in the...
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What should Guyana make of Maduro’s renewed partnership with Russia?

Shikema Dey -
  Venezuela’s Nicolas Maduro and Russian President Vladimir Putin have publicly reaffirmed support for their nations with a strategic partnership agreement.  As reported by Reuters, Russia and Venezuela agreed to deepen cooperation in energy, including joint initiatives within OPEC+, the Gas...
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Exxon targets tripling Guyana output capacity in five years

OilNOW -
ExxonMobil Corp plans to triple its oil production capacity in Guyana over the next five years, as part of a global strategy to concentrate capital on low-cost, high-return assets, a senior company executive said on Thursday. Speaking at the 41st...
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bpTT and EOG deliver first gas from Mento Development offshore Trinidad

OilNOW -
bp Trinidad and Tobago (bpTT) has announced first gas from the Mento development, a 50/50 joint venture with EOG Resources Trinidad Ltd. EOG is the project operator. Initial gas is being produced from the discovery well. Drilling of the remaining...
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Shell to increase stake in Nigeria’s Bonga oil field

OilNOW -
Shell Nigeria Exploration and Production Company (SNEPCo) has signed an agreement to acquire TotalEnergies’ 12.5% stake in the OML 118 Production Sharing Contract offshore Nigeria. The deal, announced by Shell on May 28, will raise Shell’s interest in OML 118...
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Snapshot: Exxon’s first Stabroek Block tie back development tapping three oil fields 

OilNOW -
ExxonMobil’s Uaru development is the first Stabroek Block project to utilize a subsea tieback connecting three fields - Uaru, Mako, and Snoek oil fields - to a single production facility. Tiebacks, by industry definition, transport hydrocarbons from seabed wells to...
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ExxonMobil enters exclusive talks to sell French refinery to North Atlantic

OilNOW -
ExxonMobil has entered exclusive negotiations with Canadian fuel retailer North Atlantic for the sale of its 82.89% stake in its French subsidiary Esso, including the 240,000 barrels per day Gravenchon refinery in Normandy. The deal also includes a 100% stake...
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Ranking the giants: Largest oil discoveries in Guyana’s Stabroek Block after Liza

OilNOW -
Since ExxonMobil’s historic Liza discovery in 2015, the Stabroek Block offshore Guyana has yielded a string of world-class oil finds. While Liza remains the biggest discovery to date, several subsequent wells have encountered major oil-bearing reservoirs. Liza was the biggest,...
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IEA warns of major drop in oil investment as clean energy gains momentum

Upstream oil investment is expected to decline by 6% in 2025, marking the first drop since 2020 and the...

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