The restoration of Libyan crude production and an influx of heavy-sour Canadian grades to the US west coast has pressured light sweet Guyana crudes to their widest differential against Argus North Sea Dated since the assessments launched in February.
The Guyanese Government says it intends to implement later this year, an oil and gas data repository that will enable the country to consolidate all historical and current petroleum data in a centralised local facility.
A national workshop (27-30 August) brought together top officials from across Guyana to strengthen the country’s defences against oil spills.
Fueled by a strong performing oil and gas sector, which has seen increased production and earnings, Guyana’s real economy grew by an estimated 49.7% in the first half of this year, according to the Ministry of Finance’s Mid-Year report.
The major players on the world energy production stage are well known, and particularly in the field of oil and gas, where most of them have been in the game for a long time.
Exxon Mobil Corp. took the first step toward its seventh oil project in Guyana, a clear signal the supermajor intends to expand crude output from the South American nation into the next decade.
The discovery of oil has boosted the global profile of both countries but their governments now face challenges navigating geopolitical interests
A three-way race is intensifying for the Guyana offshore oilfield business, which is estimated to contain at least 11 billion barrels of oil and gas, including Exxon Mobil and Chevron, the two largest U.S. oil companies, and Hess, an oil exploration company.
Chevron’s Permian Basin production in the first quarter dropped less sequentially than the 2%-4% than had been predicted three months ago, but still expects to continue on a growth trajectory in the second half 2024, its top executive said April 26.
Exxon Mobil Corp. has made a final investment decision (FID) for the Whiptail development offshore Guyana after receiving government and regulatory approvals.