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ExxonMobil injects GY$170 billion into Guyana’s economy in 2024 – Routledge

OilNOW -
ExxonMobil Guyana and its partners spent over GY$170 billion with local businesses in 2024, according to company President Alistair Routledge. This forms part of a decade-long investment exceeding GY$525 billion with more than 2,000 Guyanese suppliers. “Their participation shows the...
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ExxonMobil’s Guyana profit jumps 62% to $4.7 billion in 2024

Kemol King -
ExxonMobil Guyana Limited (EMGL) reported a profit of US$4.73 billion in 2024, up from US$2.92 billion in 2023. This was revealed today during the company’s report on last year's earnings, at its Duke Street office in Georgetown. This 62% jump...
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Is Guyana facing the Dutch Disease? The reality behind the oil boom

OilNOW -
In an article republished on May 29, The Economist described Guyana as “about to become one of the most extreme cases” of the resource curse, referencing the rapid influx of oil revenue. But is that truly the case on...
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‘Practically overnight’: Guyana’s oil boom becomes a global success story

OilNOW -
ExxonMobil says Guyana has become one of the world’s most incredible economic and geopolitical success stories “practically overnight.” According to recent commentary by Hunter Farris, Senior Vice President for Deepwater at ExxonMobil Upstream Company, the timeline from discovery to first...
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President signs Guyana’s Oil Spill Bill into law

OilNOW -
Guyana’s President Irfaan Ali has enacted a comprehensive oil spill law which sets out a national framework for oil spill prevention and response and holds companies liable for the full cost of restoration and damages. The government published the Oil...
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TotalEnergies files plans for offshore surveys in Suriname

OilNOW -
TotalEnergies Suriname has submitted draft environmental impact statements to Suriname’s National Institute for Environment and Development (NIMOS) for offshore oil exploration. The company plans to conduct geophysical surveys in shallow water Blocks 6 and 8, located 90 km offshore in...
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Atlas Professionals gears up Surinamese talent for GranMorgu offshore project

OilNOW -
As Suriname prepares for the large-scale GranMorgu offshore project, Atlas Professionals has launched a focused initiative to train and certify local talent for offshore roles, the company announced this week.  The “Greenhands Offshore” program is designed to identify and equip...
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ExxonMobil eyes US$30B in low-emission projects as Guyana sets example in cleaner oil production

OilNOW -
ExxonMobil plans to invest up to US$30 billion in low-emission initiatives from 2025 to 2030. Nearly 65% of that spending targets emissions reductions for third-party customers. The investments depend on supportive policies, regulations, and continued advances in technology and markets,...
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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

Işıl Güneş -
PARAMARIBO, SURINAME - 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...
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Guyana hits record three-quarter million barrels of oil per day

Total offshore production from Guyana’s Stabroek Block has hit over 700,000 barrels of oil per day, President of ExxonMobil...

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