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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

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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...
News

Exxon, Total, Shell among investors tapped by Qatar for world’s largest LNG project

OilNOW -
Sources in the global oil industry have disclosed that ExxonMobil, Total Energies SE, and Royal Dutch Shell are among the top investors eyed to come aboard Qatar’s mega liquefied natural gas (LNG) expansion project. Qatar Energy’s North Field expansion project is expected...
News

T&T looking to unlock over 23tcf of gas, 455M barrels of oil with aggressive 2022 bid rounds

OilNOW -
According to the Prime Minister of Trinidad and Tobago, Dr. Keith Rowley, the latest gas reserve audit for the country established that at year-end 2020, technically recoverable resources amounted to 23.2 trillion cubic feet (tcf) and prospective resources at...
News

Guyana says Venezuela trying to delay World Court ruling in border case

OilNOW -
Venezuela has submitted to the International Court of Justice (ICJ) a Preliminary Objection to the admissibility of the ongoing border controversy case with Guyana, resulting in a suspension of the hearing, Guyana’s Ministry of Foreign Affairs said on Wednesday. Now,...
News

Venezuela set to resume oil shipments to Europe as US relaxes sanctions

OilNOW -
With most of Europe facing an economic crisis following Russia’s invasion of Ukraine, the United States has stepped in to relax some of its sanctions on Venezuela so that oil shipments can be resumed to keep several states from...
News

Guyana to lead Latin America, Caribbean with highest 2022 growth rate – World Bank Report

OilNOW -
While the war in Ukraine is having substantial effects on the Latin America and Caribbean Region via higher commodity prices and weaker global growth, Guyana on account of its oil industry is projected to lead the pack this year...
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Chinese oil and gas giant CNOOC eyes greater role in Trinidad and Tobago’s energy sector

Executives from China National Offshore Oil Corporation (CNOOC) this week met with Trinidad and Tobago’s Ministry of Energy and...

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