Emerging oil exporting country Guyana's market share in Europe has increased
2023/8/29
According to Reuters citing data from Reinitiv Eikon, in the first half of 2023, Guyana shipped 63% of its total oil exports to Europe, with an average daily production of 215000 barrels. According to data, Guyana's crude oil exports to Europe accounted for approximately 50% of its total exports in 2022.
Guyana's increased sales in the European market have come at the cost of declining sales in the Gulf of Mexico region of the United States, with some refiners not importing oil from this Latin American country this year. Data shows that Guyana's exports to Asia remained stable year-on-year from January to June.
In recent years, Guyana has become a hot spot for exploration and development, as Exxon and Hess have discovered over 11 billion barrels of oil equivalent off the coastlines of South American countries.
Currently, Guyana's crude oil production is approximately 360000 barrels per day, and it is expected to reach 1 million barrels per day by 2027. The joint venture led by Exxon and the US company Hess currently produces all crude oil in Guyana, making it the world's newest oil producing country. South American countries are expected to announce the winners of their first offshore bidding later this year.
According to John Hess, CEO of Hess Corporation, Guyana plans to extract approximately 1.2 million barrels of crude oil per day and use six floating production and storage vessels (FPSOs) by 2027, based on resources discovered and developed in the rich Stabrook district. Exxon and Hess have discovered over 20 oil fields in the area.
Exxon, Hess, and others are preparing to launch their sixth offshore oil project in Guyana, reserving $12.93 billion for its development.
According to Reuters citing a declaration from the Guyana government, the new project called Whiptail will be put into operation within four years.
JIN DUN CHEMICAL has built a special (meth) acrylic monomer manufacturing base in ZHEJIANG province. This makes sure the stable supply of HEMA, HPMA, HEA, HPA, GMA with high level quality. Our special acrylate monomers are widely used for thermosetting acrylic resins, crosslinkable emulsion polymers, acrylate anaerobic adhesive, two-component acrylate adhesive, solvent acrylate adhesive, emulsion acrylate adhesive, paper finishing agent and painting acrylic resins in adhesive.We have also developed the new and special (meth) acrylic monomers and derivatives. Such as the fluorinated acrylate monomers, It can be widely used in coating leveling agent, paints, inks, photosensitive resins, optical materials, fiber treatment, modifier for plastic or rubber field. We are aiming to be the top supplier in the field of special acrylate monomers, to share our rich experience with better quality products and professional service.
