After having made more than 30 discoveries offshore Guyana with a success rate close to 90%, ExxonMobil sees the potential for the Stabroek Block’s near 11 billion oil equivalent barrels to more than double. In addition, the company sees...

In just three months, Guyana received a total of GY$48,406,316,589 (US$232,164,587.96) in royalty and profit oil payments in the Natural Resource Fund (NRF), according to a notice published in the Official Gazette dated July 18, 2022. Giving a breakdown, the Finance...

By Dr. Lorraine Sobers - OilNOW A disproportionate fraction of the climate change bill is already being paid by developing countries. There is no correlation between where climate change hits hardest and the source of massive greenhouse gas emissions. It...

The record pace at which Guyana is developing its oil and gas resources has been lauded by the President and Chief Executive Officer (CEO) of the Energy Chamber of Trinidad and Tobago, Dr. Dax Driver. And with the world’s...

A new review of the consolidated financial statements for ExxonMobil Guyana, Hess and CNOOC for the period ended December 2021 confirms that the South American country is profiting more from the offshore oil production activities than all three companies combined. Financial...

The climate crisis has seen wealthy countries that have built and transformed their economies with oil and gas, calling on countries in Africa, South America and the Caribbean, to hold off on developing their hydrocarbon resources. Calls have mounted for...

During the second quarter ended June 30, 2022, Guyana’s Natural Resource Fund (NRF) recorded a profit of GY$266.04 million (US$1.28 million) solely due to interest earned on deposits, says manager of the account, Central Bank of Guyana.  During the quarter,...

The billions of barrels of oil and gas contained in the offshore Guyana basin belongs to the people, including the country’s private sector. In this regard, Guyana’s Vice President, Dr. Bharrat Jagdeo, is calling on the business community to...

ExxonMobil has marked a milestone with the SBM Offshore built and operated Liza Unity floating production storage and offloading (FPSO) vessel for its second oil development in the Stabroek Block offshore Guyana. It was the first FPSO in the world to be...

ExxonMobil is on the hunt for multiple suppliers for a host of local services as its oil and gas operations in Guyana’s offshore Stabroek Block rapidly expands. Its Guyana affiliate, Esso Exploration and Production Guyana Limited (EEPGL), plans to put...