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Guyana’s oil fund earns GY$21B from profit oil for May

OilNOW -
For May 2022, Guyana earned profit oil income from the Stabroek Block totaling GY$21,381,305,000 (approximately US$102,548,225.42). In the prior month, the country received royalties to the tune of GY$4,390,903,000 (approx. US$21,059,486.81). The following figures were extracted from the monthly Natural...
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Exxon wants to be go-to partner for NOCs – Woods

OilNOW -
Chief Executive Officer and Chairman of the Board at ExxonMobil Corporation, Darren Woods, said the company’s strategy is to make sure it is a central partner when national oil companies and other resource holders want someone to develop the...
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‘One Guyana’ hull in Indonesian waters, will head to Singapore soon – Hess

OilNOW -
President and Chief Operating Officer of Hess Corporation, Greg Hill, said the hull for the Yellowtail oil production vessel is complete, and sitting in Indonesian waters, waiting to travel to Singapore one the Prosperity, another Guyana-bound vessel, is complete. Prosperity...
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Guyana does not owe Exxon a cent; nonsense passing off as analysis – Vice President

OilNOW -
The contention that Guyana would not be able to reap the benefits of oil production without racking up millions of dollars in debt to Stabroek Block operator ExxonMobil is misleading, said the country’s Vice President, Dr. Bharrat Jagdeo. During a...
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Guyana not being relegated to status of ‘rent collector’; country seeking big gains from oil resources – Ramnarine

OilNOW -
Guyana’s steadfast drive for local participation in its oil and gas sector is being lauded by former Trinidad and Tobago Minister of Energy, Kevin Ramnarine. Though private sector leaders of the two Caribbean Community (CARICOM) nations have been at odds...
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‘Current high oil prices must not lull us into false sense of security’ – T&T Energy Chamber Chairman

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The world has gone from negative oil prices to historic highs in just a few years. But Chairman of Trinidad and Tobago’s Energy Chamber, Dwight Mahabir, has cautioned countries to not let these current high oil prices lure them...
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Sheraton Hotel brand making debut in world’s fastest-growing economy by 2025

OilNOW -
A heightened tourist footprint in Guyana, a new oil producer and the world’s fastest-growing economy, is pushing the South American nation’s hospitality industry further. By 2025, the Sheraton Hotel and Resort brand will be present in Guyana. Marriott International Inc. –...
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Guyana equipped to address all likely oil spill scenarios as US Coast Guard led training ends

OilNOW -
With any oil production operation, oil spills are a risk, though the probability is very minimal once strict safeguards are implemented. And though Guyana is new to the oil-producing scene, the small South American nation has taken steps to boost its development of an...
Exploration

‘If CGX can’t raise funds to meet commitments, that’s none of our business’ – Jagdeo

Kemol King -
Not long after the Irfaan Ali administration assumed office in 2020, CGX Energy was granted an extension to its deadline to drill a well on the Corentyne block offshore Guyana. While it looks like CGX may need another extension – this...
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‘Guyana must explore every revenue-generating activity to achieve climate adaptation and mitigation’ – President Ali

OilNOW -
In 2010, developed countries committed to jointly mobilise US$100 billion annually in climate finance by 2020 to support developing countries in reducing emissions and adapting to climate change. However, as the globe celebrated World Environment Day on Sunday, Guyana’s...
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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...

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