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Exxon planning to submit plan for 4th major development at Stabroek Block by year-end

OilNOW -
U.S Oil major ExxonMobil, operator at the 6.6 million acres Stabroek Block in Guyana, is planning to submit a development plan to authorities in the South American country for its fourth project offshore, by the end of the year. The...
News

Exxon says it is in full compliance with Liza Phase 1 environmental permit

OilNOW -
ExxonMobil Guyana said on Wednesday it remains in full compliance with the environmental permit that was issued by the Environmental Protection Agency for oil production operations at the Liza Phase 1 Development offshore the South American country. On Wednesday, former...
News

Light sweet Liza crude in good position as Brent soars past $63 a barrel

OilNOW -
The Guyanese government’s decision to push for rapid development of the nation’s oil and gas resources in an investor-friendly environment was buoyed in early February by strong demand for light sweet crude across the global oil market. In late December...
News

Guyana exported its first oil cargo for 2021 last week: over US$206M now in account

OilNOW -
Government may reopen bids for marketing company The Guyana government lifted its first oil cargo for 2021 last week, bringing the total number of shipments made by the country to five, which represents its share of crude from the...
News

ExxonMobil, Stabroek co-venturers launch US$100 million initiative in Guyana

OilNOW -
ExxonMobil, Hess and CNOOC Limited, co-venturers in offshore oil development in the Stabroek Block, on Tuesday announced the formation of the Greater Guyana Initiative, a 10-year commitment of more than GY$20 billion (US$100 million) to significantly expand capacity building...
News

Liza Destiny gas compressor en route to Germany for repairs – ExxonMobil

OilNOW -
The faulty 3rd stage Flash Gas Compressor from the Liza Destiny FPSO operating offshore Guyana is en route to Germany where an assessment of the issue and repairs will get underway soon. President of ExxonMobil Guyana, Alistair Routledge, and...
News

Exxon reports US$20.1 billion loss for Q4 2020 in most challenging year to date

OilNOW -
U.S. oil major, ExxonMobil on Tuesday reported an estimated fourth quarter (Q4) 2020 loss of $20.1 billion, or $4.70 per share assuming dilution. The company said Q4 capital and exploration expenditures were $4.8 billion, bringing full-year spending to $21.4...
Exploration

Exxon, Shell and CNOOC could be most active explorers by end of 2021 – Westwood Energy

OilNOW -
ExxonMobil, Shell and CNOOC are expected to be the most active explorers by the end of 2021 with a significant portion of the offshore activity taking place in Guyana where multiple prospects remain on the prolific Stabroek block and...
News

Liza Unity FPSO could begin journey to Guyana as early as mid-year – Hess

OilNOW -
While the Liza Phase 2 development remains on track for first oil in early 2022, the overall project, including the floating production storage and offloading (FPSO) vessel and the drilling and subsea infrastructure are approximately 85% complete. At this...
News

Guyana accounts for US$15 billion in deepwater sanctioning since 2019

OilNOW -
Global consultancy group Wood Mackenzie says it expects another year of around US$300 billion in upstream development spend, down 30% on pre-crisis levels and 60% below 2014’s US$750 billion peak. Deepwater spend has been underpinned by US$50 billion in...
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Afreximbank COO pitches partnership for Suriname’s SMEs

PARAMARIBO, SURINAME – The African Export-Import Bank (Afreximbank) wants to be a long-term financial partner for small and medium-sized...

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