Reuters An oil exploration campaign led by Exxon Mobil Corp XOM.N at the Tanager-1 well in the Kaieteur block off Guyana’s coast discovered hydrocarbons but it does not appear to be financially viable on its own, a spokesman for the company said on Tuesday. As part of a consortium with Hess Corp HES.N and China’s CNOOC Ltd 0883.HK, Exxon has made 18 discoveries totaling
Forbes How bad is the situation for the oil and gas industry in the U.S. right now? Let’s take a look at some compelling recent data points: On Friday, ExxonMobil posted its first quarterly loss since 1999. On Thursday, Royal Dutch Shell cut its dividend for the first time since the 1940s. In it’s most recent weekly rig county update, Enverus reports that “As of April 29, the
Houston Chronicle GEORGETOWN, Guyana — They are the odd couple of the global oil patch: Guyana is a poor former British sugar colony. Exxon Mobil is America’s largest oil company. They came to depend on each other after a series of extraordinary oil discoveries off Guyana’s coast transformed the small South American country’s fortunes and boosted the oil company’s assets
Houston Chronicle GEORGETOWN, Guyana (AP) — Guyana voted for a new government on Monday in a bruising fight for control of a tiny South American country whose oil revenues in the next decade could make it one of the wealthiest in the hemisphere. A consortium comprised of ExxonMobil and partners, Hess Oil of the US and CNOOC of China began
CNBC An upcoming election in one of the smallest and poorest countries in South America is set to decide on a new government to oversee the highest amount of oil per person of any country in the world. Guyana, a country of about 750,000 which shares a border with Brazil, Suriname and Venezuela in the northeast of South America, will hold a general
Reuters Guyana’s government on Wednesday launched a search for a company to market its share of crude produced at the offshore Liza well, where an Exxon Mobil Corp-led consortium began producing oil in December. The government is entitled to a share of the oil produced, and has said it was seeking a marketing agent to help it export the crude.
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
