Houston Chronicle Guyana vigorously defended its oil contract with Exxon Mobil Corp. after the deal was criticized by human-rights group Global Witness just a month before the country holds a general election. The report faulted “inexperienced” government officials for failing to press for better terms when the contract came up for renegotiation in 2016, the year after Exxon made a
Houston Chronicle As most of the oil industry cuts back on spending, Hess Corp. said Tuesday it will allocate more money this year to its growth in the tiny South American country Guyana. After the Exxon Mobil-led partnership with Hess in Guyana began producing oil in December, Exxon and Hess plan to dedicate more dollars to ramping up oil output
Reuters GEORGETOWN – Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the director of the Department of Energy, Mark Bynoe, said in an interview. The government is entitled to a portion of the light, sweet crude that a consortium led by Exxon
Reuters GEORGETOWN (Reuters) – Bankers are “bombarding” Guyana with offers of financing backed by future oil production, the finance minister told Reuters, but the South American nation is rejecting the proposals to avoid the excessive borrowing that has plagued other oil producers. As the former British colony begins its first significant oil production this year, it is wary of avoiding
Reuters A vessel carrying about 1 million barrels crude oil from Guyana set sail on Monday for the United States, according to vessel tracking service TankerTrackers.com, ushering the tiny South American nation into ranks of the world’s oil exporters. The first cargo of Liza crude departed from the floating platform Liza Destiny off Guyana, operated by U.S. companies Exxon Mobil,
Houston Chronicle Exxon Mobil led the way with new finds off the coasts of Guyana and Cyprus as global oil and gas discoveries in 2019 hit a four-year high, according to a new report. Energy companies discovered about 12.2 billion barrels of oil equivalent in 2019 — the highest since nearly 20 billion barrels in 2015 — from more than
By Tyler Losier, Energy Reporter, Oil & Gas 360 Qatar Petroleum signs agreement to farm Total-held exploration acreage in Namibia, Guyana and Kenya Qatar Petroleum (QP), Qatar’s state-owned energy company, has signed an agreement with French supermajor Total SA (stock ticker: TOT), under which the company will farm into Total-held exploration acreage in Namibia, Guyana and Kenya. With regards to
From Reuters Qatar Petroleum said on Monday it had agreed a deal with Total (TOTF.PA) to acquire a stake in the French energy giant’s two oil and gas blocks offshore Guyana. Qatar Petroleum said it will hold 40% of Total’s 25% participating interest in the Orinduik block, and 40 percent of Total’s 25% participating interest in the neighboring Kanuku. The
From Reuters Exxon Mobil Corp said on Friday it has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals. Exxon has been investing heavily in its U.S. shale operations and in Guyana, which has become the focus of intense interest since the company announced the discovery of over 5 billion barrels of oil and
From Houston Chronicle Exxon Mobil said Thursday it made its 13th oil discovery offshore of Guyana, increasing its rapidly rising tally of finds near the tiny South American nation. The new Yallowtail-1 well discovery comes in the Turbot area of what’s known as the potentially prolific Stabroek Block offshore of Guyana that Exxon Mobil is exploring with its New York-based
From Bloomberg Guyana, a country that currently produces no crude, could pump more than OPEC member Venezuela in five years. While U.S. sanctions on Venezuela threaten to accelerate an already steep slide in production, neighboring Guyana’s output is poised to reach 750,000 barrels a day by 2025, according to an estimate from Exxon Mobil Corp. The oil major has partnered with Hess Corp. and
Multiple discoveries have revealed 5 billion BOE of resource Hess (stock ticker: HES) announced fourth quarter results and reserves today, the first major E&P company to release earnings this quarter. Hess reported a net loss of $5 million in Q4, or ($0.05) per share, compared to a loss of $2.7 billion, ($8.57) per share in Q4 2017. In total, Hess
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