Tag: exxon

BUSINESS

Companies Jockey For Oil Contracts In Guyana

The Government of Guyana announced that more than 20 companies have submitted bids to compete for a contract to market the country’s share of oil production. Among the bidders are Exxon Mobil.  The 12-month contract, which allows the country to export its portion of crude produced offshore by a consortium led by Exxon, had in previous years been awarded to […]

COMMENTARY

Every Citizen At Present Owes ExxonMobil $9M – IEEFA Financial Analyst

Kaieteur News – For every US dollar that Guyana earns per barrel of oil produced in the Stabroek Block, the Oil companies walk away with six dollars. Compounding the situation is the fact that at present, given the developments already undertaken and underway, each citizen of this country owes the oil company some US$44,000. Additionally, at the rate Esso Exploration and […]

BUSINESS

U.S. Oil Companies See Profits Flow

ExxonMobil and Chevron have seen profits soar on the back of the rise in oil prices. ExxonMobil, America’s largest oil company, posted a net income of $6.8 billion, compared to a $680 million loss a year ago.  Oil prices took a beating at the start of the COVID-19 pandemic until recently when travel and other economic activities resumed. But they’ve […]