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Guyana seeks consultant to review Exxon’s Hammerhead proposal

The Guyana government is seeking a consultant to review and evaluate ExxonMobil's proposed Hammerhead oil development, its seventh offshore project.  A request for expressions of interest, issued through the Ministry of Natural Resources, aims to secure consulting services with part...

ExxonMobil expects Q3 2024 earnings to drop, impacted by lower commodity prices and industry margins

ExxonMobil forecasts a dip in Q3 2024 earnings due to market factors, with estimated total earnings at US$9.2 billion.  ExxonMobil’s advantaged assets in Guyana, Permian Basin pushing it well ahead of competition | OilNOW A key factor is declining liquid prices,...

Guyana congratulates Suriname as interest in gas monetization grows

Guyana’s Vice President, Bharrat Jagdeo, said he looks forward to the potential “shared infrastructure” Guyana and Suriname can have as contiguous states with significant petroleum resources.  TotalEnergies recently announced its final investment decision (FID) for the Block 58 Gran Morgu...

Exxon, Chevron and BP among 27 bidders for Guyana crude marketing deal

ExxonMobil, Chevron, Shell, BP, and Eni are among 27 companies that have submitted bids for Guyana's crude marketing contract. ExxonMobil is the operator of the Stabroek Block where all crude production offshore Guyana is currently being executed. This includes the...

Hess clears FTC hurdle, CEO to focus on Guyana relations post-merger

Hess Corporation announced the completion of the Federal Trade Commission (FTC) antitrust review of its merger with Chevron, satisfying a key condition for the transaction's closure.  In an announcement, Chief Executive Officer, John Hess, expressed optimism about the deal. “This...

Guyana crude output rebounds, closing August at 663,000 b/d

After a July of shutdowns at the Liza field, crude oil production has returned to more than 600,000 barrels per day (b/d) in August.  The shutdowns for the connection of a natural gas pipeline lasted July 2-15 for Liza 2,...

Consumers to see immediate 50% power cost reduction with Gas-to-Energy project

Guyana’s Vice President Bharrat Jagdeo has assured that consumers will benefit from a 50% reduction in power costs almost immediately after the Gas-to-Energy project becomes operational.  “I don’t know if it will be one day, a week, or so, but...

CNOOC Petroleum Guyana Limited to develop advanced data storage and sharing platform

CNOOC Petroleum Guyana Limited (CPGL) has announced plans to establish a new data storage and sharing platform to meet the growing collaborative needs of its global workforce. This system will enhance CPGL's capacity to manage increased production and development...

Firm needed to operate, maintain 300 MW Gas-to-Energy power plant

The Government of Guyana has issued a Request for Proposals (RFP) seeking qualified firms to manage the operations and maintenance (O&M) of a 300-megawatt (MW) power plant and related auxiliary facilities as part of the Gas-to-Energy Project. This power...

Stena DrillMAX returns to continue exploration drilling at Haimara-3 

Exploration drilling continues at ExxonMobil’s Haimara-3 well in Guyana’s Stabroek Block. The campaign is being undertaken by the Stena DrillMAX rig.  Guyana’s Maritime Administration Department (MARAD) said activities will conclude on November 1 at the site, situated approximately 123.3 nautical...

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Guyana share of oil revenues to increase as Exxon pays down cost faster with US$100 per barrel crude  

Guyana is set to receive a bigger share of revenue from oil production as higher prices accelerate the pace...