Guyana News


Guyana Short-lists 19 Companies to Market Its Oil

Jun 29, 2020

A group of 19 companies including oil majors, trading houses and state-run firms were approved by Guyana's government for the next phase of a competitive process aimed at selecting an agent for marketing its share of crude produced in the country…

Guyana: ExxonMobil Ramps Liza Output Back Up after Gas Compressor Issues Fixed

Jun 22, 2020

Exxon Mobil Corp has restored crude output at its nascent project off Guyana's coast after addressing problems with gas reinjection equipment, the South American country's environmental regulator said on Friday.Output at the offshore Liza field…

Guyana Received $4.9M in Oil Royalties in 1Q

May 26, 2020

Guyana received $4.9 million in royalty payments for oil production at the offshore Stabroek block in the first quarter, the finance ministry said on Monday, a period that included the South American country's first crude exports.The crude produced…

30+ Companies Compete for Guyana Crude Trading Deal

Apr 22, 2020

More than 30 companies, including commodities traders like Gunvor and Vitol as well as units of oil majors like Exxon Mobil and Royal Dutch Shell, submitted expressions of interest for a contract to market the Guyanese government's share of the country's crude…

Oil Traders Vie for Guyana Marketing Deal Despite Price Tumble

Apr 21, 2020

Guyana has attracted interest from several oil trading companies for a contract to serve as the marketing agent for the government's share of the country's crude, despite a plunge in global prices, four people familiar with the matter said.Oil…

Chinese Refiners Buy Rare North Sea, Guyana Crude at Low Prices

Apr 07, 2020

Chinese independent refiners have snapped up rare crude grades from the North Sea and Guyana at low prices in an oversupplied market after the coronavirus pandemic destroyed demand, four sources with knowledge of the matter said on Tuesday.The North Sea grades bought included Balder…

Guyana's Oil Output Rises 58%

Apr 03, 2020

Guyana's oil output rose 58.2% to 56,320 barrels per day (bpd) in January, up from 35,607 bpd in December, the South American country's finance ministry said in a report published this week.The government is still working with the consortium…

Eco Atlantic: Board, Management Salaries Cut up to 40%

Apr 01, 2020

Guyana and Namibia focused oil and gas company Eco Atlantic has said that its board and management have agreed to voluntary pay cuts of up to 40 percent, in the wake of the situation with the coronavirus and the low oil prices.The company has…

China's CNOOC to Load First Cargo of Guyanese Oil Soon

Mar 20, 2020

China's state-controlled oil company CNOOC Ltd is scheduled to load in the coming days its first cargo of crude from Guyana's offshore Liza oil project, the South American country's Director of Energy Mark Bynoe said.CNOOC has a 25% stake in…

Hess Reduces 2020 Capex by $800M. Curtails Drilling Plans

Mar 17, 2020

U.S. oil company Hess Corporation has cut its capital and exploratory program in response to the sharp drop in oil prices, affecting both onshore and offshore drilling programs. The company said Tuesday it would reduce its capex to $2.2B from previously proposed $3 billion…

Guyana Still Searching for Partner to Market Its Oil

Mar 12, 2020

Guyana has extended the initial deadline in its search for an agent to market its share of oil produced by an Exxon Mobil-led consortium to March 24, the Department of Energy said on Wednesday.Guyana has no domestic refining capacity or national…

Guyana's Granger Claims Presidential Election Victory

Mar 06, 2020

Diplomats and foreign observers on Thursday questioned preliminary results of Guyana's presidential election as incumbent David Granger claimed victory and the opposition denounced fraud, setting up a showdown in the oil-rich South American nation…

Guyana Produced 35,607 bpd in December

Feb 19, 2020

Guyana produced 35,607 barrels per day (bpd) of oil in December, following the inauguration of production in the country by a consortium led by U.S. oil major Exxon Mobil Corp, the finance ministry said in a report.Exxon has discovered more than 8 billion barrels off the coast of Guyana…

ExxonMobil, Noble Corp. in Guyana Drillship Pact

Feb 12, 2020

The U.S. oil major ExxonMobil has signed a framework agreement with offshore drilling contractor Noble Corporation to extend the contracts for the three drillships currently operating for Exxon in Guyana, and potentially add more work and more rigs…

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