Showing results for:

News

Stability crucial for US$55 billion investment in Stabroek Block

OilNOW -
By 2027, US$55 billion would have been invested in oil and gas projects in Guyana by ExxonMobil and its co-venturers Hess and CNOOC. This commitment is based on the terms of the 2016 Stabroek Block Production Sharing Agreement. “Any change...
News

No Stabroek Block crude is used for offshore operations – ExxonMobil Guyana clarifies

OilNOW -
ExxonMobil Guyana Limited (EMGL) has put on record that no crude produced in the Stabroek Block is utilised for its operations there.  The Friday afternoon statement from Exxon sought to clarify a local media report that questioned how many barrels...
News

Ranger still holds ranking as Exxon’s deepest well drilled in Guyana’s Stabroek Block 

OilNOW -
ExxonMobil has made over 30 discoveries in Guyana’s Stabroek Block, but none have managed to boot the Ranger-1 well from its rank as the deepest to ever be drilled. The Ranger discovery, made in 2018,...
News

Exxon to return portion of Stabroek Block to State: here’s what’s not included

OilNOW -
ExxonMobil is set to relinquish a portion of the 6.6-million-acre Stabroek Block in October, as it moves on to the final phase of the exploration period. The petroleum agreement governing operations at this block dictates that Exxon should relinquish at...
News

Guyana to contract audit of Exxon’s Stabroek Block 2021-2023 expenses by September 

OilNOW -
Guyana's Minister of Natural Resources, Vickram Bharrat, said the government is on track to issue a contract award in September for the audit of Stabroek Block expenses for the period 2021-2023.  “We’re looking at the same model where we can...
Exploration

Stabroek Block reserve estimate now stands at 11.6 billion barrels – Guyana oil minister

OilNOW -
The ExxonMobil-operated Stabroek Block offshore Guyana is estimated to hold 11.6 billion barrels of oil equivalent resources. Minister of Natural Resources, Vickram Bharrat, shared the updated figure during an August 14 press conference in Georgetown.  It represents the first change from...
News

Stabroek Block profitable even if oil prices dropped by half 

OilNOW -
Guyana has become the bedrock of ExxonMobil’s post-COVID corporate revival, an Aug 1 piece by Bloomberg’s Kevin Crowley outlined.  The Texas oil giant is the operator with a 45% stake in the Stabroek Block, a vast oil field spanning 6.6...
News

Exxon looking to acquire seafloor seismic services for Stabroek Block

OilNOW -
ExxonMobil is looking to secure seafloor seismic services to enhance its activities at the Stabroek Block offshore Guyana where it has found more than 11 billion barrels of oil equivalent resources since 2015.  The company in a public request...
News

Stabroek Block operator ExxonMobil tops June 2024 charts for global market cap.

OilNOW -
Texas-based oil major ExxonMobil, operator of Guyana’s Stabroek Block ranks number one on global charts for June 2024, based on market capitalization among the top oil companies in the United States. Market capitalization, sometimes referred to as market cap,...
News

Caribbean Court third in a row to quash activist lawsuit against Stabroek Block permit 

OilNOW -
The Caribbean Court of Justice (CCJ) dismissed an appeal filed by Guyanese citizen Ramon Gaskin challenging a local judgment that determined the Stabroek Block partners did not require separate licenses to operate offshore.  Gaskin’s initial application sought to quash the...
1234...330Page 3 of 330

Latest News

NewsOilNOW -

MODEC, Carbon Clean sign MoU to advance FPSO-based carbon capture

MODEC Inc. and Carbon Clean Solutions Ltd. have signed a memorandum of understanding (MOU) to accelerate the development and...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

Quick Access

Company Info

Social Networks