ExxonMobil made over 35 oil discoveries in Guyana, making it a major producer, while Middle East tensions persist over the Strait of Hormuz.
4 reports, 4 independent
Updated Aug 28
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What happened
ExxonMobil made over 35 oil discoveries in Guyana, making it a major producer, while Middle East tensions persist over the Strait of Hormuz.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Project success in Guyana has accelerated investment recovery for ExxonMobil.Sub-event
- Oil discoveries in Guyana are being hampered by issues with the existing contract terms.Sub-event
Hormuz disruption lifts crude prices as US imports increase from Latin America and Guyana.1 source
- Retaliatory attacks in Hormuz caused a steep drop in LNG traffic and damaged minority interests in LNG trains.Sub-event
- Occidental's performance is tied to Brent price, and Exxon Mobil holds advantaged assets in Guyana.Sub-event
- US strikes against Iran caused Brent oil prices to fall, amidst ongoing geopolitical tensions in the Strait of Hormuz.Sub-event
Guyana emerges as a major oil producer, while Middle East supply risks keep oil prices high.1 source
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The entities involved
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ExxonMobil
American multinational oil and gas corporation
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Guyana
country in South America
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Hormuz
city in Hormozgan Province, Iran
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- New oil blocks are now competing with existing large leases as part of ExxonMobil's exploration campaign in Guyana.
- ExxonMobil is seeking to unlock Trinidad’s offshore potential, using Guyana’s successful oil drilling operations as a blueprint.
- ExxonMobil operates in Stabroek Block off Guyana, while Christopher Ram analyzes the revenue generated from the oil operations.