The oil majors ExxonMobil, TotalEnergies, Chevron, and Shell are gradually expanding their presence in the Guyana-Suriname Basin. With some contracts expected to be finalized in 2024, these four companies will have stakes in 15 offshore blocks, amounting to more...
Guyana and Namibia are set to sit at the top as pivotal exploration hubs in the foreseeable future, according to predictions by S&P Global Commodity Insights analysts Ian Conway, Jack Rivers and Stuart Lewis.
ExxonMobil is the lead operator in...
Guyana Vice President Bharrat Jagdeo has indicated that ExxonMobil's Whiptail project, set to produce 250,000 barrels of oil per day (bpd), is on track for approval in the first quarter of 2024. Responding to inquiries about the approval's Q1...
U.S. multinational energy company Chevron has warned of a significant financial hit in the fourth quarter of 2023, with an estimated impairment of up to $4 billion, according to an Upstream Online report. This substantial figure is directly related...
The year 2024 is expected to welcome a massive expansion of operations in Guyana’s oil and gas industry. New blocks will be awarded, oil developments will advance, and the prospect of gas development will shift into focus.
Here is a...
Here are the stories that you, the readers, were most interested in, last year:
January: Exxon strikes more oil at Fangtooth well offshore Guyana
The first discovery made offshore Guyana in 2023 was at Fangtooth Southeast, an appraisal well that indicated...
Petrobras, the Brazilian state oil producer, has acquired significant stakes in three offshore blocks in Sao Tome & Principe through a deal with Shell, marking its re-entry into African exploration.
Under this agreement, Petrobras secured a 45% interest in blocks...
S&P Global's Richard Swann has identified Guyana’s oil as a potential replacement for Russia's Ural oil in the global market. The opportunity came about after Russia invaded Ukraine and faced sanctions from Western nations.
“... perhaps it's a replacement for...
According to the latest report of Guyana’s Audit Office, GY$108 billion (approximately US$518 million) in tax concessions were granted in 2022 to support booming activities in the oil and gas industry. While this is a significant sum, the nation’s...
While the exploration success carried less momentum, Guyana’s oil and gas sector hit several milestones in 2023. Let’s look back at a few of those in no particular order.
Starting with discoveries…
In January, Hess announced the Fangtooth SE-1 discovery, revealing...
