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Exxon confirms 1.2 million barrels per day capacity for Guyana by 2027

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U.S. oil major ExxonMobil confirmed on Wednesday that a major ramp up offshore Guyana will see the company having the capacity to produce as much as 1.2 million barrels of oil per day by 2027. "Clearly our objective is to...
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Oil climbs to record $113/barrel as supply disruptions mount

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(Reuters) - Oil prices surged on Wednesday as supply disruptions mounted following sanctions on Russian banks amid the intensifying Ukraine conflict, while traders scrambled to seek alternative oil sources in an already tight market. Brent crude futures rose by nearly...
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IDB to approve US$83.5M for Guyana to diversify energy mix with mega solar farms

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Notwithstanding Guyana’s evolving trillion-dollar oil and gas sector, the government is intent on demonstrating its commitment to the development of a cleaner, greener, and more diversified energy matrix. Towards this end, the Inter-American Development Bank (IDB) is currently in...
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ExxonMobil Guyana tests spill response readiness

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ExxonMobil Guyana disclosed on Tuesday that it recently conducted an exercise to field test spill response equipment, processes, and team readiness. It said this exercise was intended to ensure readiness to respond in the unlikely event of an offshore...
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Exxon scaling back offshore operations in Russia

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ExxonMobil is scaling back its operations on its flagship offshore development project in Russia's Sakhalin Island region in response to the fallout from the crisis in Ukraine, Upstream reported on Tuesday, citing information on the Sakhalin Online news website. A consortium source...
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Shell joins other oil majors in exit of Russian joint ventures

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Shell International BV (Shell), one of the largest oil companies in the world, on Monday announced that it intends to join other oil majors in exiting equity partnerships held in Russia in response to the barbaric invasion of Ukraine. Shell...
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No agreement with former EPA administration was made for US$2.5B insurance coverage – Routledge

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During his tenure as Head of Environmental Protection Agency (EPA)--October 1, 2018, to August 2020--Dr. Vincent Adams had stated, repeatedly, that he was able to secure an agreement with ExxonMobil Guyana for insurance coverage totalling US$2.5B. On Monday, ExxonMobil Guyana...
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Using majority of oil money in first couple of years good for economic development, expert says

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Lawmakers in Guyana approved the first withdrawal from the country’s Natural Resource Fund on February 10 allowing for US$607 million, all the revenue in the fund, to be removed. The first withdrawal, which amounts to about GY$126 billion, will...
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Norway group sees Guyana overtaking U.S. Gulf of Mexico production in ‘unbelievable’ ramp up

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The extent of the development projects offshore Guyana within such a short space of time since the first oil discovery in 2015 is being viewed as ‘unbelievable’ by Norway-based energy research and business intelligence company, Rystad Energy. Now, the...
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Food for over 2,000 persons offshore part of big agri demand Guyana can meet using oil riches

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Hydrocarbon resources diminish over time but the need for food remains central in the human existence. Guyana now has an unprecedented opportunity to modernize and mechanise its agriculture sector so that long after the oil is gone, the South...
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Guyana’s Uaru and Whiptail projects on track for 2026 to 2027 start-up – Routledge

Alistair Routledge,  President of ExxonMobil Guyana says the company’s fifth and sixth developments — Uaru and Whiptail — are...

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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