Guyana News

Inchcape Shipping Services (ISS) and Symmetry Group Inc. (SGI) have announced a strategic joint venture in Guyana, marking a significant milestone in the maritime and logistics sectors. This partnership aligns with Guyana's Local Content requirements, combining the strengths of both companies to offer an integrated suite of services tailored to the needs of the country's burgeoning oil and gas industry.Symmetry Group Inc. has acquired a 51% majority stake in ISS Guyana, combining SGI's local expertise with ISS's global reach and capabilities.

A consortium led by Exxon Mobil that controls all oil and gas output in Guyana produced 668,000 barrels per day (bpd) of oil last week, the U.S. company's head for the South American country, Alistair Routledge, said during a conference on Tuesday.The group is working to install its fourth floating output facility after receiving it in Guyana's waters in February. In March, the companies produced 627,000 bpd, and the 631,000 bpd average achieved in the first quarter was 3% higher year-on-year…

A consortium led by U.S. Exxon Mobil 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 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.

“Year-to-date, Guyana’s oil exports have jumped to 598 thousand barrels per day (kbpd), a 58% year-on-year increase, adding to the growth achieved in previous years. Over the past three years, the average annual growth rate has hit 76%,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.ExxonMobil first started producing from the Liza field in the Starbroek Block in late 2019. Since then, the operation in the Liza field has been expanded and production in the Payara field added.

An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, people familiar with the matter said.Chevron last October offered to pay $53 billion for Hess, one of the two biggest deals in the largest wave of consolidation in the oil industry in decades. The asset most coveted by Chevron in the takeover is Hess’s stake in a Guyana field operated by top U.S. rival Exxon.Exxon and China's CNOOC  have challenged the deal…