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Approx. US$2 billion spent to procure goods, services from local suppliers as Exxon marks five years of oil production in Guyana

OilNOW -
With December 19, 2024, marking five years of oil production in Guyana, ExxonMobil said its deepwater projects are the “most successful” in the world. The company is hailing its first five years as a significant achievement underscoring the potential...
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Exxon targeting 1.7 million barrels per day in Guyana by 2030 

Shikema Dey -
ExxonMobil has announced plans to expand its operations in Guyana, projecting production capacity to reach 1.7 million barrels of oil per day by 2030. This is part of the company’s broader Corporate Plan to 2030, which aims to deliver...
Guyana's Oil Ledger

Guyana oil production averaged 608,000 b/d in first 10 months of 2024

Kemol King -
Crude oil production at the ExxonMobil-operated Stabroek Block averaged 608,000 barrels per day (b/d) in the first 10 months of 2024. Combined output from the three projects—Liza 1, Liza 2 and Payara—have shown they can sustain 660,000 b/d. However,...
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U.S.  producing more oil now than at anytime in history

OilNOW -
The U.S. holds firm on its position as the world’s top producer of oil.  New data from the U.S. Energy Information Administration (EIA) Petroleum Supply Monthly shows that the country produced 13.4 million barrels of oil per day (MMb/d) in...
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Guyana oil production hits half-billion-barrel mark

OilNOW -
ExxonMobil Guyana announced on November 13, a milestone of 500 million barrels of accumulated crude oil production. The output was derived from three Stabroek Block projects—Liza 1, Liza 2, and Payara—in less than five years. Exxon said the three...
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Guyana poised to add close to one million barrels per day as FPSO sector takes off globally

OilNOW -
A total of 56 FPSO projects, between 2022 and 2027, are expected to commence their operations worldwide. Brazil leads the list with 22 followed by Guyana, with three already in production and three more under construction. Norway-based energy research and...
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Touchstone boosting production with Cascadura wells 

OilNOW -
Touchstone Exploration announced well test results on November 11 from its Cascadura-2ST1 and Cascadura-3ST1 wells, as it undertakes a production boost in Trinidad and Tobago. The production came through the Cascadura C onshore well pad in the Ortoire Block. Touchstone said that during...
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As low-carbon investments overtake oil and gas, Guyana determined not to have stranded assets

OilNOW -
As global energy investments increasingly favor low-carbon and renewable projects over fossil fuels, Vice President Bharrat Jagdeo is steadfast in his view that Guyana must avoid the risk of stranded oil assets. With substantial offshore oil discoveries providing a...
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Guyana, Suriname can meet 11% of mid-2030s LNG supply gap – WoodMac

OilNOW -
Energy data analytics provider Wood Mackenzie said Guyana and Suriname can supply up to 12 million metric tonnes per annum (MMTPA) of liquefied natural gas (LNG) by the next decade.  This output would account for approximately 11% of the anticipated...
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Guyana to jostle with OPEC, other players for more market share in 2025 – S&P

OilNOW -
Guyana is expected to compete with some of the world's largest crude oil suppliers, including from the Organization of Petroleum Exporting Countries (OPEC), for more market share next year as they all move to boost output. Benjamin Tang, head of...
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NewsShikema Dey -

Guyana’s political outlook steady enough to keep investors calm – Norway group

Stability, that’s the word investors want to hear, and in Guyana, they’re likely to get it. Schreiner Parker, Partner and...

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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