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“No liability, no debt to Guyana” – Exxon assures

OilNOW -
As at year-end 2021, ExxonMobil Guyana’s assets totaled $1.3 trillion, an increase of 30 percent over the previous year which the company says mostly reflects substantial incremental investments in the Stabroek Block. Significant sums have been invested by Exxon and...
News

Exxon says Guyana will not be saddled with decommissioning costs for Stabroek Block projects

OilNOW -
ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL) is making it clear that Guyana will not be left to handle the decommissioning costs associated with the multibillion-dollar Stabroek Block projects. Decommissioning encompasses the safe dismantling of the project infrastructure at...
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Oil and gas is the only sector in Guyana with a carbon tax – Vice President

OilNOW -
Guyana’s Vice President, Dr. Bharrat Jagdeo says there are several reasons why the institution of a US$50 per tonne payment for flaring of carbon dioxide should not be dismissed as nominal. For one, it represents a move from no...
News

Guyana wants oil companies to help it fight climate change – VP

OilNOW -
Pursuing the fulfillment of its Low Carbon Development Strategy (LCDS) up to 2030, the government wants involvement from all levels of society in its national sustainability plan, even oil companies. In promotion of this, the government and the Stabroek Block...
News

Gov’t to fund Gas-to-Energy power plant; financing for NGL facility still to be determined

OilNOW -
The government of Guyana is drawing closer to the finalisation of arrangements for the landmark Gas-to-Energy project, particularly the onshore facilities it is responsible for building. Vice President Dr. Bharrat Jagdeo shared during a press conference on Wednesday that the...
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Fuel giant BP to operate one of world’s largest renewables and green hydrogen hub

OilNOW -
BP announced on Wednesday that it will acquire 40.5% equity stake in the Asian Renewable Energy Hub (AREH), potentially the world’s largest renewables and green hydrogen hubs. The acquisition will make BP operator of the US$36 billion project. The green hydrogen hub...
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Exxon finally hits pay; records first profit in Guyana after 23 years

Shikema Dey -
After operating in Guyana for 22 years, ExxonMobil affiliate Esso Exploration and Production Guyana Limited (EEPGL) has recorded profit for the first time to the tune of GY$132 billion. In financial records seen by OilNOW, EEPGL’s revenues stood at...
News

In scathing rebuke, VP Jagdeo says anti-fossil fuel lobby targeting Guyana

OilNOW -
Guyana has been blessed with enormous oil and gas resources. The revenues from this remarkably lucrative sector can transform the country and enable its citizens to reach higher standards of living. These revenues can also buttress the diversification of...
Exploration

Guyana delivered largest oil and gas discovery in 20 years, more to come – Hess

OilNOW -
The nearly 11 billion barrels of oil equivalent found so far at the Stabroek Block offshore Guyana may just be a scratch on the surface of what is emerging as one of South America’s most prolific oil and gas...
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“The country is growing very fast” – investors flocking to its shores – UK Envoy

OilNOW -
Guyana’s upward trajectory brought on by its massive oil and gas reserves has piqued United Kingdom investor interest. According to the British High Commissioner to Guyana, Jane Miller, many companies are eager to establish a stronghold in the South...
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Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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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