Exxon Mobil moves forward with sixth oil project in Guyana

News Snapshot:

An Exxon Mobil-led oil consortium on Friday gave the financial green light to its sixth oil development project in the Stabroek Block in offshore Guyana after receiving the required government and regulatory approvals. Production at the $12.7-billion Whiptail project in the 6.6-million-acre Stabroek block, owned and operated by a consortium including Exxon XOM-N, Hess Corp and China’s CNOOC Ltd, is expected to begin in 2027. The project will add capacity of 250,000 barrels of oil per day (bpd), bringing the total gross production capacity of the block to about 1.3 million bpd by end of 2027. Shares of Exxon were...