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The oil and gas exploration activity by Guyana created a new source of tension with neighboring Venezuela. The 2015 discovery set off a round of recriminations between Venezuela and its eastern border neighbor. Officials in Caracas, which has long had claims on Guyana's Essequibo region, have alleged that the concession is located in disputed ...
Oil discoveries at a deeper layer offshore Guyana could add billions of barrels to the block's recoverable resources, benefiting firms like Hess (HES), ExxonMobil (XOM) and TechnipFMC (FTI).
ExxonMobil's (XOM) latest oil discoveries are expected to add to its previous estimate of 10 billion boe of recoverable resources. ExxonMobil (XOM) Announces New Oil Finds in Offshore Guyana Skip ...
Venezuelans voted by a wide margin Sunday to approve the takeover of an oil-rich region in neighboring Guyana – the latest escalation in a long-running territorial dispute between the two ...
Between 2015 and 2021, the Center for Strategic and International Studies wrote that about 8 billion barrels of oil reserves were discovered in Guyana, [17] with Guyana becoming among the top twenty countries by proven oil reserves. By 2023, BBC News reported that Guyana had discovered 11 billion barrels worth of oil reserves. [33]
American multinational ExxonMobil and its commercial partners have discovered 46 oil fields in Guyana since 2015. In 2023 alone, four oil fields were found off the coast of Guyana, of which the latest one was announced in October 2023 and whose location was in the disputed Essequibo region, which makes up more than two thirds of Guyana's ...
Guyana already has seen its economy soar thanks to a massive oil discovery in 2015 that so far has led to the production of nearly 400,000 barrels of oil a day.
Venezuelan President Nicolás Maduro on Tuesday directed the country's state-owned companies to “immediately” begin to explore and exploit the oil, gas and mines in Guyana's Essequibo region ...