Darren Woods, Chair and Chief Executive Officer of ExxonMobil, says the Yellowtail project could begin production in the third quarter of 2025.
During Exxon’s 2024 earnings call, Woods said, "the team managing the Guyana development continues to demonstrate project after...
The Guyana government has set a target in its 2025 plan to issue two petroleum licenses. According to Vickram Bharrat, the Minister of Natural Resources, one of these could potentially be for natural gas.
“The two that are expected to...
The Guyana government projects crude oil will account for 89% of its exports in 2025, as oil continues to grow at a faster pace than other export-focused sectors. It represented 68% of exports in 2021 and has subsequently held...
Guyana’s Natural Resource Fund (NRF) earned US$141 million (GY$29.5 billion) in interest income in 2024, according to the government. This represents a 63% increase from the approximately US$87 million (GY$18.1 billion) earned in 2023.
The Fund, which holds Guyana’s revenue...
Hess Corporation reported a net income of US$542 million, or US$1.76 per share, for the fourth quarter of 2024, up from US$413 million, or US$1.34 per share, in the same period of 2023.
On an adjusted basis, net income stood...
Guyana’s approach to Production Sharing Agreements (PSAs) has been a key factor in its rapid oil sector development, despite public criticism, according to Janelle Persaud, Founder of Cacique Consulting.
“The PSA framework enabled the pace of development we see today,”...
The Guyana government is seeking proposals for critical components of its landmark Gas-to-Energy project, which will utilize natural gas from the ExxonMobil-operated Stabroek Block.
The Office of the Prime Minister has issued a request for proposals (RFP) from firms to...
The first phase of a world-class offshore support and fabrication facility called the Port of Vreed-en-Hoop was launched Saturday at Plantation Best, West Bank Demerara.
A ceremony attended by over 300 people took place at the facility, situated on 400...
CNOOC Limited has announced its 2025 Business Strategy and Development Plan, targeting continued growth and high-quality development. CNOOC’s Guyana subsidiary – CNOOC Petroleum Guyana Limited – holds a 25% working interest in the offshore Stabroek Block, alongside ExxonMobil and...
The Guyana government will withdraw US$2.5 billion in oil revenue to support its US$6.628 billion (GY$1.382 trillion) budget for 2025, Senior Minister in the Office of the President with responsibility for Finance and the Public Service, Dr. Ashni Singh,...
