Guyana’s Natural Resource Fund (NRF) received approximately US$225 million (GY$46.9 billion) in February.
The payments represent Guyana's share of oil sales.
The NRF also made interest income of GY$2.05 billion (approximately US$9.8 million).
The next quarterly payment of royalties is expected in...
Neil Chapman, Senior Vice President at ExxonMobil, said the company will pursue debottlenecking of the Payara project infrastructure with an expectation to achieve oil production of 250,000 barrels per day (b/d). He commented during a March 6 ‘fireside chat’...
To bolster the competitiveness of Guyana's burgeoning economy, strategic investments in infrastructure and targeted training initiatives are pivotal determinants. This is according to ExxonMobil Guyana President, Alistair Routledge. Exxon is the operator of Guyana’s Stabroek Block.
In his presentation at...
Factors affecting the global oil market have been plenty but prices have remained fairly balanced, said Carlos Pascual, Senior Vice President for Global Energy and International Affairs at S&P Global Commodity Insights. That is because of “strong oil balances”...
Representatives of both the Guyana government and main opposition party on Thursday refuted claims that Stabroek Block co-venturers ExxonMobil, Hess and CNOOC are shortchanging the country in quarterly royalty payments.
Economic Advisor in the opposition party, Elson Low, said that...
With the clock ticking, Venezuela has just one month remaining to present its counter-memorial to the International Court of Justice (ICJ) in the ongoing border controversy with Guyana. The deadline set by the Court is April 8, 2024. This...
By the third quarter of 2024, Saipem Guyana is set to occupy 81,000 square meters (m2) of the Vreed-en-Hoop Shore Base Inc. (VEHSI) facility, allowing it to fabricate “more complex” subsea structures for the country’s booming oil industry.
Saipem is...
ExxonMobil has filed for arbitration to retain pre-emption rights in the prolific Stabroek Block, Bloomberg reported. This comes as Chevron pursues its acquisition of Hess which has a 30% interest in the Guyana asset.
The publication said Exxon’s Senior Vice...
Guyana's oil production is on an upward trajectory, headed for 900,000 barrels per day (b/d) next year. By then, the country is poised to become the world’s largest per capita producer of oil.
The three operating projects - Liza 1,...
ExxonMobil Upstream Company President, Liam Mallon, has lauded the remarkable success of Guyana's oil production, emphasizing its growth from "zero when we first started drilling" to reaching "600 and 40 something ." The unprecedented growth, Mallon points out, marks...
