Even as the world transitions to renewable energy, demand for fossil fuels will remain robust over the next 20-30 years. Guyana’s low cost, low carbon barrels are best positioned to meet this demand and the South American country has...
With four sanctioned projects in Guyana since the first oil discovery in 2015, of which two are currently in production at industry-leading timelines, ExxonMobil has proven itself "an unmatched project manager of deepwater projects."
This point was recently made by...
Guyana’s Vice President Dr. Bharrat Jagdeo recently told reporters that Guyana expects to bring in US$2 billion per annum in oil revenue from 2025, based on a US$50 per barrel price of crude. He said if that calculation is...
The Guyana-Suriname basin has overtaken Brazil’s pre-salt play as South America’s leading exploration hotspot, says Rystad Energy, an independent energy research and business intelligence company based in Norway.
This latest feat, it said, can be credited mostly to ExxonMobil’s basin-opening...
By 2027, ExxonMobil is set to ramp up production at Guyana’s Stabroek Block to around 1.2 million barrels of oil per day (bpd). This will make the South American country the highest per capita oil producer in the world.
As...
ExxonMobil, operator of Guyana’s Stabroek Block, is well positioned to optimise its offshore projects, thereby delivering hundreds of millions in additional annual revenues. Liza Phase 2 and Payara, ExxonMobil’s second and third Stabroek Block projects, each have the capacity...
Venezuela has submitted to the International Court of Justice (ICJ) a Preliminary Objection to the admissibility of the ongoing border controversy case with Guyana, resulting in a suspension of the hearing, Guyana’s Ministry of Foreign Affairs said on Wednesday.
Now,...
While the war in Ukraine is having substantial effects on the Latin America and Caribbean Region via higher commodity prices and weaker global growth, Guyana on account of its oil industry is projected to lead the pack this year...
The oil and gas resources discovered offshore Guyana since 2015 continue to play a key role in Hess Corporation’s portfolio and investor spending.
The company has a 30% interest in the ExxonMobil-operated Stabroek Block offshore Guyana where nearly 11 billion...
For May 2022, Guyana earned profit oil income from the Stabroek Block totaling GY$21,381,305,000 (approximately US$102,548,225.42). In the prior month, the country received royalties to the tune of GY$4,390,903,000 (approx. US$21,059,486.81).
The following figures were extracted from the monthly Natural...
