Guyana gives and gives
A sixth discovery off the country's coast points to further oil riches at ExxonMobil's Stabroek Block
Guyana is the gift that keeps on giving for ExxonMobil and its partners drilling for oil in the tiny Latin American nation's waters. In early January, the consortium, which includes Hess and state-owned China National Offshore Oil Corporation, struck again in Guyana's waters at the Ranger-1 well, the sixth significant discovery in the vast 6.6m-acre Stabroek block. This is now thought to hold recoverable reserves of more than 3bn barrels of oil equivalent. The Ranger find, which was drilled 60 miles (96km) north from the original Liza discovery and closer to the Venezuelan maritime border, opened an entirely new area to potential future production. ExxonMobil and its partners are already pus
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
