Page 7 - Stabroek News Today

Guyana raised its crude oil production by an annual average of 98,000 bpd from 2020 to 2023.

Guyana, situated on South America's northern coast neighbouring Venezuela, Suriname, and Brazil, has emerged as a significant contributor to growth in the global supply of crude oil.

Guyana Has Become a Major Driver of Global Oil Supply Growth

The cases seek to block the merger until Hess has rectified certain disclosures on transaction details.

The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.

Seatrium Limited (Seatrium or the Group) is pleased to announce that it has been awarded a contract by Single Buoy Moorings Inc, a SBM Offshore...

The ramping up of oil production in the Stabroek Block by American oil major, ExxonMobil is not covered by the US$2 billion oil spill guarantee provided by the Co-Venturers.

According to a report by Wood Mackenzie, PETRONAS discoveries Roystonea and Fusaea are in the region of 400 million barrels of recoverable resources, which could be enough to support an FPSO with an oil processing capacity of up to 100,000 b/d FPSO development. Wood Mackenzie now holds Surinames discovered resources at more than 2.4 billion barrels of oil and liquids and more than 12.5 tcf of gas.

From 2020 to 2023, Guyana's crude oil production grew by an average of 98,000 bpd annually, making it the third-fastest growing non-OPEC producer. This surge has driven substantial economic growth, with a 62.3% GDP increase in 2022, the highest globally, according to the IMF.

Oil & Gas Exxon insurance contract sets US$500m limit for any one incident: The Government has published a contract of insurance for ExxonMobil Guyana