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Reuters
15-04-2025
- Business
- Reuters
Exxon consortium to begin installation of floating oil facility in Guyana
GEORGETOWN, April 15 (Reuters) - A consortium led by U.S. Exxon Mobil (XOM.N), opens new tab is about to begin the installation of its fourth floating oil production facility in Guyana, the South American country's maritime regulator said in a notice on Tuesday. The floating production storage and offloading (FPSO) facility 'One Guyana,' built by SBM Offshore ( opens new tab with a 250,000 barrel-per-day capacity, departed from Singapore in mid-February. Once installed, the vessel will allow the consortium to boost output capacity to some 940,000 bpd later this year. The group produced an average of 616,000 bpd in 2024 after upgrades at two of its three operational facilities. Two more vessels are expected to arrive in Guyana in the coming two years. One Guyana will allow the Exxon-led consortium, which controls all production in the country, to develop the Yellowtail and Redtail fields, which are part of its massive Stabroek block, where more than 11 billion barrels of recoverable oil and gas have been found. The installation is scheduled to conclude by the end of the year, the maritime regulator added.
Reuters
11-03-2025
- Business
- Reuters
CERAWEEK Guyana considers plan to refine oil in US, import fuel
HOUSTON, March 11 (Reuters) - Guyana is considering a plan to export crude oil to the United States for refining and to bring back fuel for domestic supply and possibly for sale to nearby countries, Guyanese President Irfaan Ali said at a conference in Houston on Tuesday. Guyana has one of the world's fastest-growing economies thanks to rapidly rising oil output at the country's prolific offshore oilfields, which are operated by a consortium led by U.S. oil major Exxon Mobil (XOM.N), opens new tab. The government is entitled to a portion of output as profit oil, which it exports through trading firms that allocate cargoes in different markets, particularly Europe. Guyana does not have refineries, but is discussing projects with companies and the Dominican Republic to build a small refinery. Guyana would do anything to keep regional peace, Ali also said at the CERAWeek conference in Houston, when asked about tension with Venezuela. The South American neighbors are involved in a long-running dispute about which country owns the 160,000-square-km (62,000-square-mile) Esequibo area, which is the subject of an ongoing case at the International Court of Justice "We just ask that Venezuela respect the ICJ and the rule of law," he said.
Reuters
11-03-2025
- Business
- Reuters
Exxon group's eighth Guyana project to produce up to 1.5 bcfd of gas
GEORGETOWN, March 11 (Reuters) - The eighth energy project in Guyana of a consortium led by U.S. major Exxon Mobil (XOM.N), opens new tab will produce up to 1.5 billion cubic feet per day (bcfd) of natural gas and 290,000 barrels per day on condensate through a floating production facility that will have capacity to export the fuel, the group told the government. The Longatil project's details, which include the development of the Longtail, Tripletail and Turbot discoveries off Guyana's coast, were included in the group's request for environmental authorization, published by Guyana's government and seen by Reuters on Tuesday. Longtail is expected to become Exxon's most important gas development in Guyana so far amid the government's pressure to ramp up gas output and supply to a wide variety of projects, including petrochemical plants and liquefied natural gas. The project will include up to 60 production and injection wells, according to the document. here.
Reuters
19-02-2025
- Business
- Reuters
Exxon's gas project in Guyana to include fertilizer plant, executive says
GEORGETOWN, Feb 19 (Reuters) - A large-scale gas project by Exxon Mobil (XOM.N), opens new tab in Guyana set to provide natural gas to shore and export liquefied natural gas (LNG) will also include fertilizer plants, the head of the U.S. oil major in Guyana, Alistair Routledge, said on Wednesday. A consortium led by Exxon plans to ramp up gas output in Guyana in the coming years, especially through projects involving non-associated gas production such as Longtail, which is expected to have a final investment decision next year. The company is "ready to deliver gas" to shore, Routledge said. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.
Reuters
18-02-2025
- Business
- Reuters
Exxon's fourth FPSO for Guyana departs from Singapore, company, vessel data says
GEORGETOWN, Feb 18 (Reuters) - The fourth floating production facility to be operated by a consortium led by Exxon Mobil (XOM.N), opens new tab in Guyana has departed from Singapore on its route to the South American country's waters, according to a company executive and LSEG vessel tracking data seen on Tuesday. Once the floating production storage and offloading (FPSO) vessel is installed, the consortium plans to boost output capacity to 940,000 barrels per day (bpd) later this year. The group produced an average of 616,000 bpd last year after upgrades at two of its three facilities. The fourth FPSO, One Guyana, was built by SBM Offshore ( opens new tab with a 250,000-bpd output capacity. Two more vessels are expected to arrive in Guyana in the coming two years. "I'm very pleased to announce (that it) just left Singapore today on its way home to Guyana," said Hunter Farris, Exxon's Vice President for Deepwater, at Guyana's Energy Conference in Georgetown. The floating facility began moving on Tuesday on its way from Singapore through the Malacca Strait, vessel tracking data showed. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.
