CNOOC Nexen Petroleum Guyana Limited | | Energy Analytics Institute (EAI)

Guyana Could Clear ExxonMobil’s Payara Project

ENERGY ANALYTICS INSTITUTE (EAI)August 11, 2020August 13, 2020

(Argus, 11.Aug.2020) — Guyana's new government will decide by the end of August whether to approve ExxonMobil's 220,000 b/d Payara project, natural resources minister Vickram Bharrat said. Payara is ExxonMobil's...

Guyana Latin America and Caribbean

Guyana Elects Mohamed Irfaan Ali President

ENERGY ANALYTICS INSTITUTE (EAI)August 2, 2020August 3, 2020

(Energy Analytics Institute, 2.Aug.2020) — Guyana’s Election Commission (GECOM) announced 2 August 2020 that Mohamed Irfaan Ali, the leading candidate from the People’s Progressive Party/Civic (PPP/C) had won the country’s...

Guyana Latin America and Caribbean

Guyana Election Casts Shadow Over Oil Finds

ENERGY ANALYTICS INSTITUTE (EAI)August 1, 2020August 1, 2020

(Forbes, 1.Aug.2020) — Hess Corp. reported more good news from its joint development of Guyana’s Stabroek Block with ExxonMobil and CNOOC on Thursday. The company announced that recently-completed appraisal drilling...

Guyana Latin America and Caribbean

Situation In Guyana Goes From Bad To Worse

ENERGY ANALYTICS INSTITUTE (EAI)July 18, 2020July 23, 2020

(Forbes, 18.Jul.2020) — As I wrote earlier this month, the future of the nascent oil and gas industry in the South American nation of Guyana is standing on shaky ground...

Asia Guyana Latin America and Caribbean

Liza Unity Hull Arrives In Singapore

ENERGY ANALYTICS INSTITUTE (EAI)July 15, 2020July 21, 2020

(Energy Analytics Institute, 15.Jul.2020) — The Liza Unity FPSO hull has arrived from China to the Keppel shipyard in Singapore where it will be fitted with 13 topside modules to...

Guyana Latin America and Caribbean

Visa Curbs On Guyanese “Undermining Democracy”

ENERGY ANALYTICS INSTITUTE (EAI)July 15, 2020July 24, 2020

(US Treasury, 15.Jul.2020) — On 2 March 2020 the Co-Operative Republic of Guyana held national elections, but it has still not declared a winner. All international observers of the vote...

Guyana Latin America and Caribbean

Vote Standoff Prolongs Guyana Uncertainty

ENERGY ANALYTICS INSTITUTE (EAI)July 13, 2020July 14, 2020

(Argus, 13.Jul.2020) — Guyana's political stalemate is prolonging uncertainty over the future management of the South American country's fledgling oil sector, and raising the prospect of US sanctions. The declaration...

Guyana Latin America and Caribbean

ExxonMobil Restores Guyana Oil Production

ENERGY ANALYTICS INSTITUTE (EAI)June 18, 2020July 28, 2020

(Argus, 18.Jun.2020) — ExxonMobil has restored crude production offshore Guyana to 80,000 b/d after correcting a technical glitch, according to the head of the country's environmental agency EPA Vincent Adams....

Guyana Latin America and Caribbean

Exxon Reduces Guyana Crude Production

ENERGY ANALYTICS INSTITUTE (EAI)June 16, 2020June 22, 2020

(Tudor Pickering, 16.Jun.2020) — Reports out last night that XOM was forced to reduce output at its Liza Phase 1 project in the Stabroek block offshore Guyana due to an...

Guyana Latin America and Caribbean Suriname

Winds Shifting In Oil-rich Guyana, Suriname

ENERGY ANALYTICS INSTITUTE (EAI)June 8, 2020June 8, 2020

(Argus, 8.Jun.2020) — Opposition parties pledging oil policy changes in Guyana and Suriname are close to taking power, but incumbents are signaling reluctance to step down. Guyana's opposition People's Progressive...

Guyana Latin America and Caribbean

Exxon Oil Output Falls On Gas Compressor Problem

ENERGY ANALYTICS INSTITUTE (EAI)June 7, 2020June 10, 2020

(Stabroek News, 7.Jun.2020) — Production at Exxon-Mobil’s Liza-1 project in the Stabroek Block, offshore Guyana, has plummeted from 80,000 barrels per day (bpd) to now between 25,000 and 30,000 bpd...

Guyana Latin America and Caribbean

Guyana With No Plans To Cut Oil Output Amid Price Drop

ENERGY ANALYTICS INSTITUTE (EAI)May 4, 2020May 10, 2020

(Reuters, 4.May.2020) — Guyana has no plans to cut crude output despite a plunge in oil prices, the government’s top energy official said on Monday, adding that shutting down production...

Guyana Latin America and Caribbean

Guyana Needs Protection From Selling Oil At A Loss

ENERGY ANALYTICS INSTITUTE (EAI)April 14, 2020April 16, 2020

(Stabroek News, 14.Apr.2020) — Before we approve Payara and Hammer-head, let’s renegotiate the contract to include control of how much oil is being pumped given market conditions. Dear Editor, Many...

Guyana Latin America and Caribbean

ExxonMobil Delays Some Guyana Oil Drilling

ENERGY ANALYTICS INSTITUTE (EAI)April 7, 2020April 9, 2020

(Argus, 7.Apr.2020) — ExxonMobil is deferring some longer-term offshore drilling in Guyana as a result of capital spending cuts, "creating a potential delay in production start-up of six to 12...

Guyana Latin America and Caribbean

Exxon Could Delay Third Guyana Project

ENERGY ANALYTICS INSTITUTE (EAI)April 7, 2020April 10, 2020

(Reuters, 7.Apr.2020) — Exxon Mobil Corp said on Tuesday the start of production at its Payara project in Guyana, its third major development in the world's newest offshore oil hotspot,...

Guyana Latin America and Caribbean

Oil Making Guyana Wealthy But Intensifying Tensions

ENERGY ANALYTICS INSTITUTE (EAI)April 7, 2020April 7, 2020

(The New York Times, 7.Apr.2020) — On a sprawling abandoned sugar estate by the coast of Guyana, the scale of the changes sweeping across the country is immediately visible. In...

Guyana Latin America and Caribbean

Guyana’s New Oil Economy Under Pressure

ENERGY ANALYTICS INSTITUTE (EAI)March 24, 2020March 28, 2020

(Bloomberg, 24.Mar.2020) — When Exxon Mobil Corp. came to Guyana, the US oil giant brought with it the promise of extraordinary economic growth. Now the tiny South American country is...

Guyana Latin America and Caribbean

Exxon, Guyana Head Toward Uncertain Future

ENERGY ANALYTICS INSTITUTE (EAI)March 20, 2020March 29, 2020

(OilandGas360.com, 20.Mar.2020) — They are the odd couple of the global oil patch: Guyana is a poor former British sugar colony. Exxon Mobil is America’s largest oil company. They came...

Guyana Latin America and Caribbean

Guyana Elects Leader As Vast Oil Boom Dawns

ENERGY ANALYTICS INSTITUTE (EAI)March 4, 2020April 21, 2020

(AP, 4.Mar.2020) — Guyana voted for a new government on Monday in a bruising fight for control of a tiny South American country whose oil revenues in the next decade...

Guyana Latin America and Caribbean

Guyana Holds Crucial March Election

ENERGY ANALYTICS INSTITUTE (EAI)March 2, 2020March 8, 2020

(Aljazeera, 2.Mar.2020) — Guyana's economy is expected to be transformed by oil and gas discovered off the poor South American country’s shores. Voters in Guyana will head to the polls...

Guyana Latin America and Caribbean

Guyana’s Burgeoning Oil Wealth Kindles Contract Row

ENERGY ANALYTICS INSTITUTE (EAI)January 30, 2020February 19, 2020

(S&P Global Platts, 30.Jan.2020) — ExxonMobil's growing oil discoveries offshore Guyana are amplifying domestic calls for a review of production-sharing contract terms on the eve of the small South American...

Guyana Latin America and Caribbean

ExxonMobil Ups Guyana Recoverable Resources

ENERGY ANALYTICS INSTITUTE (EAI)January 27, 2020January 27, 2020

(ExxonMobil, 27.Jan.2020) — ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 billion oil-equivalent barrels and made a further oil discovery northeast of the producing...

Guyana Latin America and Caribbean

Guyana – The World’s Newest Oil Producer

ENERGY ANALYTICS INSTITUTE (EAI)January 24, 2020January 26, 2020

(IHSMarkit, 24.Jan2020) — In an environment of oil supply glut, a new player entered the scene. Guyana, a nation bordering Venezuela and Brazil - two countries with large oil reserves...

Guyana Latin America and Caribbean

Guyana Searches For Firm To Trade Its Crude

ENERGY ANALYTICS INSTITUTE (EAI)January 23, 2020January 26, 2020

(Reuters, 23.Jan.2020) — Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the...

Guyana Latin America and Caribbean

Oil Tanker Arrives To Export Guyana’s First Oil Lift

ENERGY ANALYTICS INSTITUTE (EAI)January 19, 2020January 21, 2020

(Jamaica Observer, 19.Jan.2020) — The Marshall Islands registered crude oil tanker, Yannis P , has arrived here as the country will soon lift the first one million barrels of crude...

Guyana Latin America and Caribbean

Oil Boom Begins In Guyana

ENERGY ANALYTICS INSTITUTE (EAI)December 23, 2019December 25, 2019

(Bloomberg, 23.Dec.2019) — Exxon Mobil Corp. and its partners produced the first commercial crude from Guyana, setting the small South American nation on a path to potentially vast flows of...

Asia Guyana Latin America and Caribbean

CNOOC Says Liza Field Offshore Starts Production

ENERGY ANALYTICS INSTITUTE (EAI)December 20, 2019January 2, 2020

(CNOOC, 20.Dec.2019) — CNOOC Limited announced 20 Dec. that Liza field offshore Guyana has safely commenced production ahead of schedule. Liza Phase 1 development project is located in the Stabroek...

Guyana Latin America and Caribbean

Guyana Seeks Buyers For Govt’s Oil Output Share

ENERGY ANALYTICS INSTITUTE (EAI)December 15, 2019December 17, 2019

(Reuters, 15.Dec.2019) — Guyana has invited companies interested in purchasing the first three deliveries of the government’s share of the country’s looming oil production to present bids this week, the...

Guyana Latin America and Caribbean

ExxonMobil Plans 31-Well Program In Guyana

ENERGY ANALYTICS INSTITUTE (EAI)December 6, 2019December 10, 2019

(Zacks Equity Research, 6.Dec.2019) — Exxon Mobil Corporation is planning to commence a 31-well exploration campaign offshore Guyana, per Argus. The company has submitted requests to the Environmental Protection Agency...

Guyana Latin America and Caribbean

Oil Brightens Guyana’s Prospects

ENERGY ANALYTICS INSTITUTE (EAI)November 28, 2019December 1, 2019

(CaribNews, Mellany P., 28.Nov.2019) — President David Granger said Wednesday that the emerging petroleum industry provides an “exciting economic and enterprising development” for Guyana and will enhance economic growth by...

Guyana Latin America and Caribbean

Why ExxonMobil’s Guyana Success May Have Hurt Petrobras

ENERGY ANALYTICS INSTITUTE (EAI)November 20, 2019November 27, 2019

(The Motley Fool, John Bromels, 20.Nov.2019) — Oil is a big business with even bigger money attached. That's why governments that control oil assets are eager to auction them off...

Europe Guyana Latin America and Caribbean

Saipem Inks Subsea Contract In Guyana

ENERGY ANALYTICS INSTITUTE (EAI)November 14, 2019November 17, 2019

(Saipem, 14.Nov.2019) — Milan-based Saipem has been awarded a subsea contract by ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) for the proposed Payara development project located in the...

Asia Brazil Latin America and Caribbean

Brazil Tender Disappoints

ENERGY ANALYTICS INSTITUTE (EAI)November 6, 2019November 10, 2019

(Reuters, Gram Slattery, Marta Nogueira, Marianna Parraga, 6.Nov.2019) — Brazil’s biggest-ever oil auction frustrated expectations on Wednesday, as high prices and the dominant role of state-run oil company Petrobras scared...

Guyana Latin America and Caribbean Venezuela

Guyana Key Elections To Come Ahead Of First Oil

ENERGY ANALYTICS INSTITUTE (EAI)September 26, 2019September 29, 2019

(Argus, 26.Sep.2019) ) — Guyana will hold parliamentary elections on 2 March 2020, around the time that ExxonMobil plans to launch offshore oil production that promises to transform the economy...

Guyana Latin America and Caribbean North America USA

ExxonMobil Reports Tripeltail Find Offshore Guyana

ENERGY ANALYTICS INSTITUTE (EAI)September 16, 2019September 22, 2019

(Exxon, 16.Sep.2019) — ExxonMobil made an oil discovery on the Stabroek Block offshore Guyana at the Tripletail-1 well in the Turbot area. The discovery adds to the previously announced estimated...

Guyana Latin America and Caribbean

Building Guyana’s Destiny

ENERGY ANALYTICS INSTITUTE (EAI)September 9, 2019January 8, 2020

(Exxon, 9.Sep.2019) — Finding the next big discovery is only a small part of the story when it comes to energy. Delivering that new energy source to those who need...

Asia Guyana Latin America and Caribbean

Liza Destiny FPSO Moves To Offshore Guyana

ENERGY ANALYTICS INSTITUTE (EAI)August 30, 2019September 2, 2019

(Zacks, 30.Aug.2019 ) — Hess Corporation recently announced the arrival of Liza Destiny — an oil production vessel — at the Stabroek Block, offshore Guyana. Notably, this is Guyana’s first...

Guyana Latin America and Caribbean

South America’s Guyana Enters The Oil Age

ENERGY ANALYTICS INSTITUTE (EAI)July 18, 2019August 4, 2019

(Kevin Ramnarine, 18.Jul.2019) — In February 2017, I captioned an article about the Guyana-Suriname basin, The New North Sea, comparing ExxonMobil’s discoveries in Guyana to discoveries in the Norwegian North...

Guyana Latin America and Caribbean

SBM Offshore Awarded Contracts For ExxonMobil FPSO Liza Unity

ENERGY ANALYTICS INSTITUTE (EAI)May 10, 2019May 13, 2019

(SBM, 10.May.2019) — SBM Offshore announced that Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of Exxon Mobil Corporation, has confirmed the award of contracts for the next phase...

Guyana Latin America and Caribbean

ExxonMobil Announces 13th Discovery Offshore Guyana

ENERGY ANALYTICS INSTITUTE (EAI)April 18, 2019April 19, 2019

(ExxonMobil, 18.Apr.2019) — ExxonMobil said it made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery adds to the...

Asia Guyana Latin America and Caribbean North America USA

US Acknowledges Guyana’s Right To Renegotiate Exxon Deal If It So Chooses

ENERGY ANALYTICS INSTITUTE (EAI)April 10, 2019April 11, 2019

(Stabroek News, 10.Apr.2019) — The United States acknowledges that it is within Guyana’s sovereign right to renegotiate the controversial Production Sharing Agreement (PSA) between the country and ExxonMobil and its...

Guyana Latin America and Caribbean North America USA Venezuela

Political Shakeup In Oil-Rich Guyana

ENERGY ANALYTICS INSTITUTE (EAI)March 27, 2019March 28, 2019

(RT, 27.Mar.2019) — A political shakeup in oil-rich Guyana, which neighbors OPEC’s Venezuela, in South America. RT America’s Michele Greenstein joins Scottie Nell Hughes to explain how oil discoveries have...

Guyana Latin America and Caribbean North America USA

ExxonMobil: Guyana Project Overview

ENERGY ANALYTICS INSTITUTE (EAI)February 14, 2019April 22, 2019

(Exxon, 14.Feb.2019) — ExxonMobil initiated oil and gas exploration activities in Guyana in 2008, collecting and evaluating substantial 3-D seismic data that led to the company safely drilling its first...

Asia Europe Guyana Latin America and Caribbean

The Surprising Next Oil Superpower: Guyana

ENERGY ANALYTICS INSTITUTE (EAI)February 8, 2019February 9, 2019

(Axios, Steve LeVine, 8.Feb.2019) — On the coast of South America, just north of Brazil, lies the impoverished former British colony of Guyana, distantly remembered for a bizarre mass suicide...

Asia Europe Guyana Latin America and Caribbean North America USA

ExxonMobil Announces Two New Discoveries Offshore Guyana

ENERGY ANALYTICS INSTITUTE (EAI)February 6, 2019February 6, 2019

(ExxonMobil, 6.Feb.2019) — The discoveries build on the previously announced estimated recoverable resource of more than 5 billion oil-equivalent barrels on the Stabroek block. Tilapia-1 is the fourth discovery in...

Guyana Latin America and Caribbean North America USA Venezuela

Venezuela Disputes Guyana’s Account Of Incident Involving ExxonMobil Ships

ENERGY ANALYTICS INSTITUTE (EAI)January 11, 2019January 14, 2019

(CMC, 11.Jan.2019) — Venezuela has disputed Guyana’s account of what Georgetown said was the dangerous incursion into local waters after a Norwegian ship hired by ExxonMobil was “intercepted” by a...

Guyana Latin America and Caribbean North America USA

ExxonMobil Starts Drilling Haimara-1 Exploration Well Offshore Guyana

ENERGY ANALYTICS INSTITUTE (EAI)January 7, 2019January 7, 2019

(ExxonMobil, 7.Jan.2019) — ExxonMobil has begun drilling the Haimara-1 exploration well offshore Guyana, the first of two planned wells in January. The Stena Carron drillship is drilling the well, which...

Europe Guyana Latin America and Caribbean North America USA Venezuela

Venezuela: A Real Threat To Guyana’s Oil Boom

ENERGY ANALYTICS INSTITUTE (EAI)December 27, 2018December 27, 2018

(Oilprice.com, Nick Cunningham, 27.Dec.2018) — Last Friday, the Guyanese government fell after a no-confidence vote, a move that likely was viewed as an opportune moment of weakness in Caracas. A...

Guyana Latin America and Caribbean Venezuela

ExxonMobil Issues Statement On Activities In Guyana

ENERGY ANALYTICS INSTITUTE (EAI)December 26, 2018December 27, 2018

(ExxonMobil, 26.Dec.2018) — ExxonMobil said today that drilling and development operations offshore Guyana are unaffected by an incident involving seismic acquisition vessels on Saturday. Two vessels operated by Petroleum Geo-Services...

Europe Guyana Latin America and Caribbean North America USA Venezuela

Venezuela Calls U.S. Comments On Guyana Dispute ‘Interventionist’

ENERGY ANALYTICS INSTITUTE (EAI)December 25, 2018December 27, 2018

(Reuters, 25.Dec.2018) — Venezuela’s foreign ministry on Tuesday described as “interventionist and disrespectful” U.S. comments on a weekend incident in which the country’s navy stopped two ships exploring for oil...

Guyana Latin America and Caribbean North America USA Venezuela

ExxonMobil Faces Off With Venezuela’s Navy

ENERGY ANALYTICS INSTITUTE (EAI)December 24, 2018December 25, 2018

(Oilprice.com, Irina Slav, 24.Dec.2018) — Exxon has suspended exploration activities in the western part of the Stabroek block offshore Guyana after the Venezuelan Navy intercepted this weekend two exploratory vessels...

Africa Europe Guyana Jamaica Latin America and Caribbean North America Peru Suriname Trinidad and Tobago USA Venezuela

LatAmNRG Briefs: Guyana, Peru, Venezuela, Trinidad

ENERGY ANALYTICS INSTITUTE (EAI)December 13, 2018December 13, 2018

(Energy Analytics Institute, Ian Silverman and Piero Stewart, 13.Dec.2018) — Heard on the street and other LatAmNRG briefs from South America’s Guyana, which expects first oil to start flowing in...

Guyana Latin America and Caribbean North America USA

Hess Corporation Investor Day Highlights: Guyana (Select Slides)

ENERGY ANALYTICS INSTITUTE (EAI)December 12, 2018December 12, 2018

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Guyana Latin America and Caribbean North America USA

Hess Sees Oil Output Driven By Bakken, Offshore Guyana Projects

ENERGY ANALYTICS INSTITUTE (EAI)December 12, 2018December 12, 2018

(Reuters, 12.Dec.2018) — U.S. oil and gas producer Hess Corp. said Dec. 12 it expects output of barrels of oil equivalent to grow more than 10% per year compounded through...

Africa Asia Europe Guyana Latin America and Caribbean

Guyana To Open Diplomatic Missions In UAE And Ethiopia Amid Energy Boom

ENERGY ANALYTICS INSTITUTE (EAI)December 11, 2018December 12, 2018

(Caribbean News Now, Ray Chickrie, 11.Dec.2018) — Before the end of the first quarter of 2019, Guyana plans to open a diplomatic mission in the United Arab Emirates (UAE), and...

Guyana Latin America and Caribbean

ExxonMobil Makes 10th Guyana Find; Raises Stabroek Estimate To 5 Bln Bbls

ENERGY ANALYTICS INSTITUTE (EAI)December 3, 2018December 10, 2018

(ExxonMobil, 3.Dec.2018) — ExxonMobil said today it made its 10th discovery offshore Guyana and increased its estimate of the discovered recoverable resource for the Stabroek Block to more than 5...

Guyana Latin America and Caribbean

Guyana Leader Cringes with Each Oil Discovery

ENERGY ANALYTICS INSTITUTE (EAI)August 31, 2018September 3, 2018

(Kaieteur News, Abena Rockcliffe-Campbell, 31.Aug.2018) — Ordinary Guyanese who do not fully understand the fiscal regime of Guyana’s deal with oil giant, ExxonMobil might get excited each time a new...

Guyana Latin America and Caribbean

ExxonMobil Adds Ninth Discovery Offshore Guyana

ENERGY ANALYTICS INSTITUTE (EAI)August 30, 2018

(ExxonMobil, 30.Aug.2018) — Irving, Texas-based ExxonMobil has made its ninth discovery offshore Guyana at the Hammerhead-1 well, marking its fifth discovery on the Stabroek Block in the past year and...