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US VP announces strategic plan to address climate crisis in Caribbean

OilNOW -
In light of the climate crisis and energy woes that plague the Caribbean, United States’ Vice President Kamala Harris on Thursday announced a plan to address those critical concerns. The United States’ primary mechanism for addressing energy security and the...
News

University of Guyana safer with security upgrades funded by Stabroek Block co-venturers

OilNOW -
The University of Guyana commissioned the first component of its Campus Safety and Security Project on Thursday, funded by Stabroek Block co-venturers – ExxonMobil Guyana, Hess Guyana Exploration Ltd. and CNOOC Petroleum Guyana Limited – under the Greater Guyana...
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Exxon unrivalled in the deep; developing Guyana oil fields at record pace

OilNOW -
With four sanctioned projects in Guyana since the first oil discovery in 2015, of which two are currently in production at industry-leading timelines, ExxonMobil has proven itself "an unmatched project manager of deepwater projects." This point was recently made by...
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‘Fully integrated fiscal model’ confirms billions projected in annual oil revenues for Guyana from 2025

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Guyana’s Vice President Dr. Bharrat Jagdeo recently told reporters that Guyana expects to bring in US$2 billion per annum in oil revenue from 2025, based on a US$50 per barrel price of crude. He said if that calculation is...
Exploration

Guyana-Suriname basin steals spotlight from Brazil – Rystad Energy

OilNOW -
The Guyana-Suriname basin has overtaken Brazil’s pre-salt play as South America’s leading exploration hotspot, says Rystad Energy, an independent energy research and business intelligence company based in Norway. This latest feat, it said, can be credited mostly to ExxonMobil’s basin-opening...
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Guyana production by 2027 would exceed US$147 million per day at current oil price

OilNOW -
By 2027, ExxonMobil is set to ramp up production at Guyana’s Stabroek Block to around 1.2 million barrels of oil per day (bpd). This will make the South American country the highest per capita oil producer in the world. As...
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NGO embarks on ambitious marine conservation strategy amidst Guyana’s rapid growth

OilNOW -
Guyana is on an upward trek in its developmental journey, and the government’s Low Carbon Development Strategy (LCDS) 2030 aims to make sure this journey is sustainable. A critical component of this, according to the strategy, is the development and...
Exploration

Big volumes at 18,000 ft could see standalone FPSO for new Stabroek Block development

OilNOW -
The Fangtooth discovery which was announced by ExxonMobil back in January 2022 holds enough oil deposits to underpin its own floating, production, storage and offloading (FPSO) vessel. This was disclosed by Hess Corporation which has a 30% working interest...
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Production from first three Guyana projects could hit 624,000 bpd

OilNOW -
ExxonMobil, operator of Guyana’s Stabroek Block, is well positioned to optimise its offshore projects, thereby delivering hundreds of millions in additional annual revenues. Liza Phase 2 and Payara, ExxonMobil’s second and third Stabroek Block projects, each have the capacity...
News

Guyana has open-door policy to engage diaspora on country’s development – Official

OilNOW -
Guyana’s Diaspora Unit remains resolute on creating a network to facilitate investors looking to plug capital into the new oil-producing country, as more opportunities continue to emerge from the petroleum and other sectors. According to its Head, Rosalinda Rasul, the Unit has an...
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Exxon gives back portion of Stabroek Block to Guyana government

ExxonMobil and its partners in Guyana have relinquished 2,534 square kilometers of the Stabroek offshore oil block to the...

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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