Aug 7, 2024 · The Guyana government projects crude oil will account for 89% of its exports in 2025, as oil continues to grow at a faster pace...

Petroleum industry in Guyana is rapidly evolving. Guyana has emerged as one of the newest petroleum producing regions in the world, achieving its first commercial grade crude oil draw in December 2019. Crude oil is sent abroad for refining. [1] [2]

Sep 10, 2023 · President of Guyana Irfaan Ali has acknowledged "time is not on our side" as the South American country scrambles to make the most of its newfound oil wealth before it is too late.

May 21, 2024 · Guyana increased crude oil production by an annual average of 98,000 b/d from 2020 to 2023, making it the third-fastest growing non-OPEC producing country during this period. Crude oil production has been the largest contributor to Guyana’s economic growth …

5 days ago · Covering the latest oil and gas news including shale, lng, drilling, exploration and production.

2 days ago · Exxon Mobil Corporation XOM is reinforcing its dominance in the Guyana offshore oil sector, with an objective to reach 2.3 million barrels per day (bpd) of production by 2030. The U.S. energy ...

May 5, 2023 · Guyana, a country of less than a million people, is poised to become the world’s fourth largest offshore oil producer in the world. Placing it ahead of Qatar, the United States, Mexico and Norway. (May 4, AP Juan Arraez).

Mar 30, 2024 · With the discovery of offshore oil, Guyana is now building a natural gas pipeline to bring the byproducts of oil production to a planned energy plant.

Nov 21, 2024 · After decades of poor drilling results, Guyana has rapidly emerged as a significant global petroleum producer following a series of world class discoveries made by an Exxon-led consortium in the offshore 6.6 million acre Stabroek Block.

Jan 24, 2025 · While Guyana’s share of crude sold at an average of US$79.40 per barrel in 2024, the government expects an average of US$71.90 per barrel for its crude this year. Accordingly, crude oil generated an export value of US$17.99 billion in 2024 but is projected to generate US$17.61 billion this year.