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
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
