Production

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Leading OPEC+ members agree to postpone proposed increase in oil production

OilNOW -
The OPEC+ countries, which previously announced additional voluntary cuts in April and November 2023, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, held a virtual meeting on September 5, during which the eight...
Guyana's Oil Ledger

Shutdowns for pipeline hook-up cut Guyana crude output to 427,000 b/d in July

Kemol King -
Crude oil production at the ExxonMobil-operated Stabroek Block decreased significantly in July due to temporary shutdowns at the Liza field. Government data shows output at 427,000 barrels per day (b/d) in July, down 34% from 644,000 b/d in June. Monthly...
News

Guyana surpasses Trinidad in hydrocarbon production 

Kemol King -
Guyana now produces more hydrocarbons in the Caribbean region than veteran producer Trinidad and Tobago (TT).  Data from TT's Ministry of Energy and Energy Industries shows oil and condensate production of 50,246 barrels per day (b/d) in the first four...
News

Just nine years after first discovery Guyana has seven projects in play with three already producing

OilNOW -
Guyana will be producing oil for decades to come. A series of deepwater development projects being executed by U.S. oil major ExxonMobil is rapidly transforming the South American country, catapulting it from a non-producer less than five years ago,...
News

United States, Guyana, Canada and Brazil accounting for three-quarters of non-OPEC+ supply gains

OilNOW -
The International Energy Agency (IEA) says despite the marked slowdown in Chinese oil demand growth, OPEC+ has yet to call time on its plan to gradually unwind voluntary production cuts starting in the fourth quarter of this year. However,...
News

Impact studies allow for up to 708,000 b/d from current Guyana projects

OilNOW -
ExxonMobil’s oil production operations offshore Guyana could achieve up to 708,000 barrels per day (b/d) without breaching limits used to assess their environmental impacts.   The limits are captured in Environmental Impact Assessments (EIA) which formed part of the review processes for the...
News

FPSOs operating within approved production rates – Guyana oil minister

OilNOW -
Guyana's Minister of Natural Resources, Vickram Bharrat, has refuted claims by Opposition Parliamentarian David Patterson regarding the operating limits of the country's oil-producing vessels. Patterson had alleged that the Liza Destiny, Liza Unity, and Prosperity floating production storage and...
News

Bringing Hammerhead gas to shore among considerations for Exxon

OilNOW -
ExxonMobil is considering multiple alternative options for the associated gas from the proposed Hammerhead oil development.  Hammerhead, which is currently being reviewed for regulatory approval, would be the seventh Stabroek Block project. For the prior six developments, the associated gas...
News

Exxon’s Uaru and Whiptail projects could each target up to 275,000 b/d 

OilNOW -
ExxonMobil’s Uaru and Whiptail projects are each targeting an initial production range of 220,000-275,000 barrels per day (b/d), according to a document distributed at the company’s recent public meeting in Georgetown.  Uaru and Whiptail are the fifth and sixth oil...
Guyana's Oil Ledger

Payara soars, boosting Guyana’s oil production outlook 

Kemol King -
Oil production at ExxonMobil’s Payara development has been optimized in record time, delivering oil output in excess of 250,000 barrels per day (b/d) in its eighth month of production. Payara, which achieved first oil in November 2023, first reached its...
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Latest News

Energy InsightsChevy Devonish -

The Laws underpinning Guyana’s Maritime Zones: Why Venezuela’s actions violate international and Guyana’s national laws 

On March 1, 2025, a Venezuelan navy vessel entered Guyana’s exclusive economic zone (EEZ). It approached several assets, including...

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