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26.02.26 - 10:30
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"Breakneck Production Growth": Exxon Leverages Guyana Boom In Global Oil Talks (ZeroHedge)
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"Breakneck Production Growth": Exxon Leverages Guyana Boom In Global Oil Talks
Exxon Mobil Corp. is using its rapid buildout in Guyana as a selling point in talks with other governments looking to develop oil and gas reserves, according to Bloomberg.
The company says the speed and efficiency of its offshore projects there — which lifted production from zero to nearly 1 million barrels a day in just over six years — show it can execute complex developments better than rivals. Chief Executive Officer Darren Woods calls that a “unique value proposition” for host countries.
“We're going to bring something unique to you that has great value to you, and then we expect to be compensated for that,” Woods said. “That's the proposition that we're making to basically all the resource owners and our customers.”
As major energy firms compete to secure new supplies, Exxon argues its steady focus on oil and gas, along with disciplined project delivery, sets it apart from peers ...
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20.02.26 - 11:24
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Guyana Fast-Tracks Gas Expansion As Oil Cash Piles Up (ZeroHedge)
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Guyana Fast-Tracks Gas Expansion As Oil Cash Piles Up
Authored by Julianne Geiger via OilPrice.com,
Guyana's sights are set much higher than just being the new oil darling of the Western hemisphere. It wants to be the gas darling too.
That's the frame coming out of Georgetown as Guyana lines up a second gas pipeline project, even before the first one is fully online.
President Irfaan Ali said a new gas development at Berbice will be finalized very soon, aimed at bringing more associated gas from ExxonMobil's offshore fields to shore. The first gas-to-shore pipeline is expected to start up later this year, supplying roughly 300 megawatts to a new power plant near the capital.
For a country long plagued by high power costs and periodic blackouts, this goes well beyond being a side project.
Guyana's oil boom has been nothing short of staggering.
Since Exxon's 2015 discovery, output has surged and the country has become one of the fastest-growing producers in the world. But crude export...
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