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Hess upbeat on earnings as drill campaigns move forward at Stabroek Block

OilNOW -
American exploration and production multinational, Hess Corporation, reported on Wednesday said that it had a net income of US$265 million, or US$0.85 per share, in the fourth quarter of 2021, compared with a net loss of US$97 million, or...
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Oil to drive historic 47.5% GDP growth for Guyana; world’s highest forecast for 2022 – finance minister

OilNOW -
Senior Minister with responsibility for Finance in Guyana, Dr. Ashni Singh disclosed on Wednesday during the reading of the GY$552.9 billion (US$2.76 billion) 2022 national budget that Guyana’s real GDP is projected to grow by 47.5 percent; a rate...
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Deepwater action pushing major shorebase developments in Guyana

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More shorebase facilities are being developed to serve Guyana’s rapidly expanding oil and gas sector with construction set to commence on two more projects on the West Bank of Demerara sometime this year. Senior Minister with responsibility for Finance, Dr....
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Guyana’s energy sector gets GY$29.4B in National Budget to kick start hydropower, solar projects

OilNOW -
Guyana’s industrial development has been stymied by “inadequate, unreliable, costly, and environmentally unfriendly energy” for too long but with some GY$29.4 billion (US$147 million) set aside for the country’s energy sector, that is about to change. Senior Minister with responsibility...
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Guyana government to pump GY$20.8 billion into landmark gas-to-energy project

OilNOW -
The Guyana government presented its 2022 National Budget on Wednesday in the National Assembly where it was disclosed that GY$20.8 billion dollars is being earmarked for the landmark gas-to-energy project. With the country’s energy demand expected to grow within the...
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Oil drives Guyana’s export earnings to massive 68% increase

OilNOW -
At the end of 2021, Guyana's total export earnings amounted to US$4,352 million, 68 percent higher than the US$2,590 million earned in 2020. According to the country’s Finance Minister, Dr. Ashni Singh during his 2022 budget presentation on Wednesday,...
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Guyana produced 42.7 million barrels of oil last year – Finance Minister

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Senior Minister with responsibility for Finance in Guyana, Dr. Ashni Singh disclosed during his 2022 budget presentation on Thursday in the National Assembly that a total of 42.7 million barrels of oil were produced in 2021 from the ExxonMobil-operated...
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Oil on verge of hitting $90 a barrel

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(Reuters) - Oil rose towards $89 a barrel on Wednesday, within sight of a seven-year high, supported by tight supply and geopolitical tensions in Europe and the Middle East that raise concerns about further disruption. U.S. President Joe Biden said...
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Exxon targeting Tarpon-1, conducting 4D seismic at Guyana’s largest block

OilNOW -
ExxonMobil is set to continue exploration activities offshore Guyana at the Tarpon-1 prospect located approximately 121.5 nautical miles (225 kilometers) offshore covering an area of 0.29 square nautical miles (1 square kilometer). OilNOW understands the Stena DrillMAX will be engaged...
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Hess unveils US$2.6B budget for 2022; majority to be invested in Guyana, Bakken

OilNOW -
U.S. energy company Hess Corporation revealed on Monday that it has allocated a whopping US$2.6B towards its 2022 Exploration and Production budget.  Interestingly, the American explorer said the majority of this expenditure will go towards projects in Guyana and the Bakken. Hess...
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Guyana's Oil LedgerKemol King -

Guyana oil fund gets US$228 million in October

Guyana received US$228 million (GY$48 billion) in oil revenues in October, according to the latest update on the operations...

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