Guyana's offshore Stabroek Block developments have been outstanding performers when it comes to pace and efficiency. Hess Corporation’s Chief Executive Officer (CEO), John Hess said the projects come on two to three times faster than any other global offshore...

The International Monetary Fund (IMF) has thrown its support behind Guyana’s plans to bring down electricity costs, which include the implementation of the transformative gas-to-energy project. The initiative will see the construction and operation of a pipeline from the Liza...

Chairman and Chief Executive Officer (CEO) of ExxonMobil, Darren Woods has highlighted that the oil giant is on a strong trajectory to meet the future energy demands of the world with Guyana remaining one of the key drivers of...

TechnipFMC (NYSE: FTI) has been awarded a significant engineering, procurement, construction, and installation (EPCI) contract by Equinor for subsea tiebacks for the Halten East development on the Norwegian Continental Shelf. For TechnipFMC, a “significant” contract is between $75million and $250million. The contract...

ExxonMobil’s announcement of three new discoveries at the Stabroek Block offshore Guyana in April is driving a massive accumulation of hydrocarbon resources offshore the South American country. Hess Corporation, a 30% stakeholder in the Stabroek Block, said this latest success...

In its latest Upstream Report released this month, Rystad Energy said when comparing capex guidance for 2022 with actual spending in 2021, US oil major ExxonMobil is among those companies set to face the largest year-on-year growth. Hess Corporation,...

Guyana’s Natural Resource Fund (NRF) balance increased by GY$4,427,198,000 in April, according to a report from the Central Bank of Guyana. GY$4,390,903,000 (approximately US$21,059,487) in royalties were paid by Stabroek Block co-venturers in the month of April, and deposited into...

The Federative Republic of Brazil is preparing to increase its oil production by 300,000 barrels per day (bpd), a nearly 10% hike from its current approximate output of 3 million bpd, according to Americas Market Intelligence (AMI). Energy Co-Director at...

ExxonMobil’s fifth proposed development offshore Guyana could produce as much as 275,000 barrels of oil per day (bpd) and could achieve first oil as early as the fourth quarter of 2026, according to the project summary seen by OilNOW. Guyana’s...

ExxonMobil Corporation on Friday announced an estimated first-quarter 2022 earnings of US$5.5 billion compared with US$8.9 billion in the fourth quarter of 2021. The company also reported a US$3.4 billion impairment which it said is associated with its planned...