Guyana latest oil news

Here are some of the latest oil news from Guyana:

  1. ExxonMobil's Liza Phase 2 development on track: ExxonMobil has announced that its Liza Phase 2 development project in Guyana is on track to start production in 2023. The project is expected to increase Guyana's oil production capacity to 750,000 barrels per day (bpd) by 2025. (Source: ExxonMobil)
  2. Guyana's oil production reaches 400,000 bpd: Guyana's oil production has reached 400,000 bpd, according to the country's Ministry of Natural Resources. This is a significant increase from the 120,000 bpd produced in 2020. (Source: Guyana Ministry of Natural Resources)
  3. New oil discoveries in Guyana's Stabroek Block: ExxonMobil has made new oil discoveries in Guyana's Stabroek Block, which is located offshore Guyana. The discoveries are expected to add to Guyana's oil reserves and increase the country's oil production capacity. (Source: ExxonMobil)
  4. Guyana's oil revenues exceed expectations: Guyana's oil revenues have exceeded expectations, with the country generating over $1 billion in oil revenues in 2022. This is a significant increase from the $300 million generated in 2020. (Source: Guyana Ministry of Finance)
  5. Guyana's oil industry faces challenges: Despite the significant growth in Guyana's oil industry, the country is facing challenges related to infrastructure development, logistics, and environmental concerns. The government is working to address these challenges to ensure the sustainable development of the oil industry. (Source: Guyana Ministry of Natural Resources)
  6. New oil refinery planned for Guyana: A new oil refinery is planned for Guyana, which will have a capacity to process 200,000 bpd of crude oil. The refinery is expected to be built in partnership with ExxonMobil and is expected to be operational by 2025. (Source: Guyana Ministry of Natural Resources)
  7. Guyana's oil industry to create jobs: The oil industry in Guyana is expected to create thousands of jobs, both directly and indirectly. The government is working to ensure that Guyanese citizens benefit from the oil industry and that the country's economy is diversified. (Source: Guyana Ministry of Natural Resources)
  8. ExxonMobil to invest in Guyana's oil industry: ExxonMobil has announced plans to invest $10 billion in Guyana's oil industry over the next decade. This investment is expected to increase Guyana's oil production capacity and create jobs. (Source: ExxonMobil)
  9. Guyana's oil industry to boost economy: The oil industry in Guyana is expected to boost the country's economy, with the government expecting oil revenues to account for 20% of the country's GDP by 2025. (Source: Guyana Ministry of Finance)
  10. Environmental concerns in Guyana's oil industry: There are concerns about the environmental impact of Guyana's oil industry, with some critics arguing that the country is not doing enough to protect its marine environment. The government is working to address these concerns and ensure that the oil industry is developed in a sustainable way. (Source: Guyana Ministry of Natural Resources)

These are some of the latest oil news from Guyana. The country's oil industry is expected to continue to grow and play a significant role in the country's economy in the coming years.