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]

Jun 19, 2022 · The new oil producing South American country of Guyana now has around 11 billion barrels of oil equivalent. These resources have been discovered by ExxonMobil in a series of unprecedented discoveries made since 2015.

Sep 10, 2023 · Over the past decade, Guyana has found huge amounts of oil and gas under its coastal waters. It now boasts reserves of about 11 billion barrels. That puts it in the top 20 in terms of its...

Sep 27, 2023 · Guyana's vast oil reserves could catapult the country to new heights of prosperity—or plunge it into poverty.

Jan 27, 2024 · The 2015 oil discovery led Guyana to become the world's fastest-growing economy, recording the world's highest real GDP growth rate in 2022 and 2023.

Jul 4, 2023 · Guyana is now an impressive oil and gas destination with proven reserves of more than 11 billion oil-equivalent barrels in the Stabroek Block. Through the operations of an ExxonMobil-led consortium, the country will become one of the world’s largest per capita oil producers in the next few years.

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 …

Feb 4, 2024 · ExxonMobil Operator/Contractor claims proven reserves of more than 11 billion oil-equivalent barrels, boe, in the Stabroek Block. Reportedly, Independent analysts [Americas Market Intelligence]...

Jan 8, 2025 · Since 2015, Guyana has emerged as the global leader in oil discoveries, with unmatched volumes boosting its position in the energy sector, according to Rystad Energy. The Norway-based intelligence company ranked Guyana against 19 other countries.

Oct 10, 2024 · Since the announcement in August by Natural Resources Minister, Vickram Bharrat that Guyana’s oil reserves grew by a meager 600 million barrels government has failed to say how it arrived at this new figure despite being questioned on multiple occasions.

Dec 18, 2022 · Coming in second is Guyana with 11 billion barrels of oil and counting. If we use the generous population estimate of 800,000 for Guyana, then the proven oil reserves per capita for Guyana is 13,750.

Nov 17, 2024 · With more than 11 billion barrels of oil and gas discovered, the country has scheduled an auction of offshore exploration areas and said it would consider government-to-government talks with ...

Sep 23, 2024 · In August 2024, Guyana’s Minister of Natural Resources, Vickram Bharrat, announced that the country’s oil reserves had grown by 600 million barrels to 11.6 billion barrels. This...

Aug 31, 2023 · Since the discovery of 11 billion barrels of oil reserves in 2015, Guyana has emerged as an oil powerhouse, attracting significant international investment, increasing production, and...

Nov 14, 2024 · Today, Guyana holds approximately 11 billion barrels in proven oil reserves, which places it among the top 20 countries globally. With a small population of 830,000, the oil wealth per capita is exceptional, rivaling even countries like Kuwait.

Sep 10, 2023 · Over the past decade, Guyana has found huge amounts of oil and gas under its coastal waters. It now boasts reserves of about 11 billion barrels. That puts it in the top 20 in terms of its...

Aug 15, 2024 · International experts from US analytics company S&P Global recently put the current Guyana basin recoverable resources at 18.7 billion barrels. However the Chairman of the Wales Development Agency Asgar Ali put the reserves to at least 15B barrels in May of this year.

Apr 30, 2023 · Guyana has become a focal point for global discussions on the oil and gas industry, thanks to the discovery of vast oil reserves by an ExxonMobil-led consortium back in 2015. These resources have already brought in over US$2.2B in royalties and profits from 2020 to 2023, making it a game-changing revenue earner for the South American nation.

Aug 4, 2024 · US oil superstar ExxonMobil has insisted that Guyana’s oil reserves stand at 11B barrels of oil equivalents, which is what it knows as of now. Recently, world renowned S&P Global estimated that current reserves in Guyana are at 18.7B barrels.

3 days ago · This conflict traces back to 1899—126 years ago—when the current borders were established during Guyana’s colonial era under British rule. Recently, tensions have intensified due to Venezuela’s escalating aggression, particularly following the discovery of oil and gas reserves offshore.

Feb 19, 2025 · Chevron needs Hess’s Guyana oil assets to boost reserves Baker Hughes lands major contract for ExxonMobil Guyana FPSOs U.S. upstream oil & gas M&A hit $105 billion In 2024 U.S. LNG supply will ...

Jan 20, 2025 · Massive Reserves: Experts estimate over 11 billion barrels of recoverable oil within the Stabroek Block, making it a goldmine for energy production. Economic Projections: Guyana’s GDP is expected to grow by an astonishing 40% annually, driven …

2 days ago · He described Guyana as an “oil super power” given the more than 11 billion barrels of resources discovered by the consortium over the past 10 years. ExxonMobil first announced the discovery of oil in the Stabroek Block in May 2015. This later led to a string of other successful discoveries in the oil rich block.

1 day ago · Canadian oil producer Frontera Energy said on Monday that it believes its license to explore the Corentyne block off the coast of Guyana remains valid and it is assessing all legal options to ...

Mar 3, 2025 · De nombreux épisodes ont depuis renforcé les tensions entre Venezuela et Guyana (3).En décembre 2023, le Venezuela a notamment organisé un référendum consultatif invitant entre autres la population à « s'opposer, par tous les moyens, conformément à la loi, à la demande du Guyana de disposer unilatéralement d'une mer en cours de délimitation, …

The Guyana-Suriname Basin has seen significant activity in recent years, with Guyana alone unearthing more than 13 billion barrels of oil equivalent (boe) of discovered volumes in the past decade. As operators in the burgeoning energy powerhouse continue to explore and develop its resources, the focus on its coastal neighbor, Suriname, is growing. Rystad Energy analysis …