Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
New Zealand backs gas, but results take time
Government is sending out the right policy signals to support increased domestic gas development, but policy takes time to implement and even longer to yield results
South Korea’s transition bottlenecks keep LNG in play
The country’s new government has grand plans for renewables, but the structural changes needed for these policies will take years to carry out
Letter from the Middle East: Iran-Israel war risks dire straits
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
Trump creates new risk dynamic
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
Canada’s energy superpower ambition
The new government is talking and thinking big, and there are credible reasons to believe it is more than just grandstanding
Is a Russia-Iran gas deal on the horizon?
Russia has ample spare gas, and Iran needs it, but sanctions and pricing pose steep hurdles.
Saudi-US energy ties adapt to multipolar world
Saudi Arabia and US relations can construct a new ‘field of dreams’, but opportunism may be the new rules of the game
A new energy order in the UAE and Saudi Arabia
The two Gulf states are combining fossil fuel production with ambitions to become leaders in low-carbon energy
Australia’s post-election energy priorities
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
Bad omens for Chinese oil demand
Sino-US trade tensions could see crude consumption crumble despite recent buying behaviour
Venezuelan President Nicolas Maduro addresses supporters during the referendum campaign
Venezuela Guyana Politics
Vincent Lauerman
12 January 2024
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Venezuela casts shadow over Guyana’s bright oil future

But 1m b/d production could be just a few years away if geopolitical risks subside

The future appears bright for Guyana’s rapidly expanding offshore oil industry. Since the first announced commercial oil strike in the Liza field in May 2015, the ExxonMobil-led consortium targeting the massive 6.6m-acre Stabroek block has made more than 34 additional discoveries, amounting to 11b bl of recoverable oil and counting. In addition, Guyana closed its first competitive auction for 14 offshore blocks in September, with bids on eight of them. Oslo-based consultancy Rystad Energy is predicting Guyana will become the world’s fourth-largest offshore oil producer by 2035, while Edinburgh-based consultancy Wood Mackenzie is predicting the country to break the 1m b/d milestone in 2027 an

Also in this section
OPEC+’s extra barrels mostly made of paper
14 July 2025
Robust demand and a limited supply of additional physical barrels from key OPEC+ producers has kept the oil market in a healthy price range
Sverdrup keeps on giving
11 July 2025
Equinor and its partners at Norway’s largest oilfield have pulled the trigger on a fresh $1.3b investment that will maintain high output for longer
Australia gas security faces fitness test
11 July 2025
Reassessment of the country’s export-facing gas policy coincides with worsening domestic market backdrop
Waiting for Arctic LNG 2
10 July 2025
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search