And Europe? It can’t get enough. Sweet, light, and refinery-friendly, Guyana’s Liza, Unity Gold, and Payara Gold grades are the belle of the Atlantic. Two-thirds of the country’s exports went to Europe in 2024. That’s no accident—European refiners love this stuff. It’s easier to process, closer than Middle Eastern barrels, and not tangled up in Russian geopolitics.
In a mere six years, one of South America’s poorest nations, Guyana, has emerged as the world’s newest petrostate. There is speculation that the tiny country of less than one million is on track to become the continent’s second-largest oil producer. Even neighboring Venezuela’s President Maduro’s never-ending saber rattling over the Essequibo is not distracting the national government, in the capital Georgetown, from promoting the world’s fastest-growing oil boom. Guyana is now a major contributor to the world petroleum supply and will become the largest per capita oil producer, with production anticipated to exceed one million barrels per day by the end of 2027.
Shearwater GeoServices has been awarded a contract by ExxonMobil Guyana to conduct a deepwater 4D ocean bottom node (OBN) reservoir surveillance programme offshore Guyana, Shearwater announced on Monday.
African Export-Import Bank (Afreximbank) has unveiled plans to establish a $1 billion oil service financing facility in Guyana, which aims to enhance local participation in the country’s fast growing oil industry.
Exxon Mobil Corp. outlined plans to increase natural gas production from oil-focused Guyana and is considering options to export the fuel to global markets, country manager Alistair Routledge said Wednesday.
Exxon Mobil Corp. outlined plans to increase natural gas production from oil-focused Guyana and is considering options to export the fuel to global markets, country manager Alistair Routledge said Wednesday.
Salunda has integrated its Red Zone monitoring solutions on four drilling rigs in Guyana with Intellilift’s proven digital technologies to deliver automated location and control of critical equipment and personnel.
Under the terms of the agreement signed on the sidelines of the African Energy Week last month, JE Energy Limited, which has been awarded contracts to lift and market crude oil from Guyana, shall utilize the two-year facility to finance the purchase and sale of crude oil from Guyana’s Ministry of Natural Resources for onward sale to reputable international offtakers.
Guyana has become notorious for its vast offshore oil reserves, but there is natural gas there, too. For now, this is being injected back into the wells operated by Exxon, Hess, and CNOOC, to maintain pressure. Yet the authorities in Georgetown have plans—and these plans feature LNG.
After years of speculation surrounding the former Dutch colony’s petroleum potential, with discoveries in neighboring offshore Guyana pointing to the deeply impoverished country possessing billions of barrels of crude, the first oil recently took a big step closer.