Tag Archives: Guyana

ExxonMobil and China National Offshore Oil Corporation (CNOOC) have merged their arbitration claims against Chevron’s takeover of Hess’s stake in the most prolific oil block offshore Guyana. Last autumn Chevron and Hess reached an agreement under which the supermajor would buy Hess Corporation, including its assets in Guyana, where Hess, …

Venezuela is sending troops to its border with Guyana in an escalation of tensions over Guyana’s recent oil boom, according to reports citing satellite images and videos posted by Venezuela’s military. Venezuela is attempting to annex an area known as Essequibo, in which Venezuela’s President Nicolas Maduro in December said …

India is looking to sign a multi-year oil purchase deal with Guyana, the Guyanese minister for natural resources, Vickram Bharrat, said on Thursday, as the subcontinent moves to diversify its supply of crude imports. Referencing the possibility of a long-term oil deal with India, Bharrat told reporters on the sidelines …

After boosting oil production to above 500,000 barrels per day in five years, the world’s newest crude oil exporter, Guyana, looks to develop its significant natural gas resources, too. ExxonMobil, whose consortium currently pumps all of Guyana’s crude oil, is positioning itself to explore and understand the natural gas reserves …

With more than 35 oil discoveries since 2015 the impoverished South American microstate of Guyana has emerged as the world’s hottest frontier drilling location. Global energy supermajor ExxonMobil is leading the charge by exploiting the prolific offshore Stabroek Block where it has discovered over 11 billion barrels of oil resources. …

Exxon and its partners in the offshore Stabroek Block in Guyana have made almost $6 billion from their operations. Citing official documents, Reuters says audited financial results show that Exxon, Hess Corp., and CNOOC earned a combined 5.8 billion from the Guyana business in 2022. Exxon’s individual share of the …

The tiny South American nation of Guyana has emerged as the hottest offshore drilling location on the continent over the last six years. The swathe of oil discoveries made by ExxonMobil and its partners, Hess and CNOOC, in the offshore Stabroek Block, since 2015, recently saw the energy supermajor upgrade …