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U.S. oil major Exxon Mobil and partners are continuing to negotiate with Guyana's government on the terms for developing a shallow-water oil block, an Exxon spokesperson said on Monday. Exxon ...
Operating and proposed projects in the Stabroek block. Esso, a subsidiary of ExxonMobil, began exploring the off-shore region in 2008. [10] In May 2015 ExxonMobil announced discovery of more than 90 metres of high-quality, oil-bearing sandstone reservoirs about 200 km off the coastline, [11] considered to be one of the largest crude oil discoveries of the past decade. [12]
An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, four people familiar with the matter said.
Its interest piqued again in 2015 when ExxonMobil announced it had found oil in commercial quantities off the Essequibo coast. Guyana has denounced Venezuela's actions and Sunday's referendum as ...
Representatives of both Venezuela and Guyana asked in a hearing held at the ICJ in mid-November 2023 that the Court recognise their sovereignty over the Essequibo. Guyana also requested that the referendum be repealed, alleging that Venezuela intended to annex the territory, a request that the Venezuelan government rejected. [38]
With 215,000 square kilometres (83,000 sq mi), Guyana is the fourth-smallest country on mainland South America after Uruguay, Suriname and French Guiana. The main economic activities in Guyana are agriculture (production of rice and Demerara sugar ), bauxite mining, gold mining, timber, shrimp fishing and minerals.
According to ExxonMobil, Guyana could be producing 750,000 barrels of oil per day within five years, and the expected revenue from this oil would dwarf Guyana's previous US$3 billion GDP and transform its development possibilities. [5] Nine parties contested the elections for the presidency and for the 65 seats in the National Assembly. [3]
Exxon’s $60 billion deal to buy Pioneer and Chevron’s $53 billion tie up with Hess sends a clear message to investors — the world may be shifting to clean energy but big oil is doubling down ...