Production

The Inter-American Development Bank (IDB) has commented in one of its latest publications that Guyana’s oil boom will drive hydrocarbon exports beyond US$3 billion this year and also account for 59.7% of Gross Domestic Product (GDP). It further noted in...

Guyana’s Ministry of Natural Resources (MNR) developed a special website in 2021 as part of its Petroleum Management Programme, dedicated to making information about the country’s oil and gas sector publicly available. The platform, since May 2021, has been...

The capabilities of key agencies tasked with monitoring the offshore oil and gas operations in Guyana have been strengthened over the last two years and work is ongoing to further build capacity as production ramps up in the new...

ExxonMobil expects to invest over US$20 billion annually to help meet the world’s growing energy needs through 2027. That's more than US$100 billion in the next five years. This will amount somewhere between US$21 billion and US$24 billion this...

The fallout from Russia's invasion of Ukraine has resulted in a spike in oil prices. Now, the Orinduik Block partners - Eco Atlantic, Tullow Oil, TotalEnergies and Qatar Energy - plan to revisit the commercialisation potential of the Jethro...

ExxonMobil generated earnings of $17.9 billion and cash flow from operating activities of $20 billion in the second-quarter 2022 as a result of increased production, higher realizations and margins, and aggressive cost control. The company said on Friday it increased...

The Payara project, ExxonMobil’s third development in Guyana’s offshore Stabroek Block is 80% complete, according to President and Chief Operating Officer of Hess Corporation, Greg Hill. Topside fabrication/installation is currently being undertaken aboard the Prosperity floating production, storage and offloading...

TotalEnergies said Monday it started production at the Ikike field, 20 kilometers (km) off the coast of Nigeria. The Ikiken platform meets a depth of about 20 meters and is tied back to the existing Amenam offshore facilities through...

With the energy transition in full swing, emphasis is being placed on making the global upstream industry more sustainable. To do this, the focus has to be on abundant oil and gas resources in locations with access to low-cost...

(S&P Global Platts) Fresh demand from South Korea could keep the market sentiment for October-delivery barrels of Brazilian crudes buoyed, even as the grades' cash differentials could face some headwinds as China-based end-users pivot toward competitive Russian crudes, trade...