According to media reports, the Guyana Appellate Court has put on hold the suspension order issued against ExxonMobil Esso Exploration and Product Limited to cease operations until the hearing determination of the full appeal case. In the interim, Judge Rishi Persaud today also ordered that the oil company provide a US$2 billion security deposit within the next ten days, or […]
ExxonMobil shareholders have supported their Board of Directors and voted overwhelmingly to reject a proxy measure for additional disclosures on a worst-case scenario oil spill response plan for the company’s Guyana operations. Even as the company highlighted to its shareholders that Guyana has been one of its main revenue earners and its operations were on target to ensure a solid […]
America’s largest oil company ExxonMobil set a profit record for the second-straight quarter as oil and gas prices remained high. No. 2 US oil company Chevron also posted much-better-than-expected results. ExxonMobil earned $18.7 billion, excluding special items, up 6% from the second quarter results, which had been the record, and up 177% from a year ago. Earnings per share of […]
ExxonMobil and Chevron ratchet up profits to record levels in the second quarter, as both companies benefitted from the windfalls gained from the increase in energy prices. The war between Russia and Ukraine is partly responsible for the company’s current position. The huge earnings come as consumers reel from sky-high fuel costs that have helped drive inflation to levels not […]
According to ExxonMobil, it has made its final investment decision to proceed with the Payara field offshore development in Guyana after receiving government approvals. The company noted that the Payara is the third project in the Stabroek Block and is expected to produce up to 220,000 barrels of oil per day after startup in 2024, using the Prosperity floating production and […]
The U.S. oil giant ExxonMobil has discovered two additional high-quality oil reservoirs in Guyana’s Stabroek Block. As a result of COVID-19, Guyana’s travel restrictions had forced ExxonMobil to idle two drillships in the country’s waters temporarily. However, the oil company had resumed drilling operations by the end of the second quarter. Meanwhile, Exxon Mobil Corporation has announced an estimated second […]
The Cooperative Republic of Guyana seems to be floating in oil as US-based giant, ExxonMobil, has made its 16th oil discovery offshore the territory. The exploration success in the emerging province is showing little sign of slowing. Dr. Mark Bynoe, Director in the Department of Energy, said the new discovery was made northeast of the producing Liza field at the […]
According to press reports, ExxonMobil has announced recently that the consortium which it leads has made another discovery in its Stabroek block offshore Guyana. ExxonMobil holds a 45 percent interest in the 6.6 million-acre Stabroek block and serves as operator for the consortium, which also includes Hess and CNOOC as joint interest partners. The initial production from the Liza Phase […]
