Exxon Mobil has taken the first step toward what will be its seventh oil project in Guyana in what Bloomberg calls “a clear signal the supermajor intends to expand crude output from the South American nation into the next decade.” Exxon country manager Alistair Routledge said in an interview that the Hammerhead project will pump as much as 180,000 barrels a day as soon as 2029, pending Guyanese government approval, reported Bloomberg’s Kevin Crowley.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XOM:
- Exxon Mobil adds Air Liquide to Baytown, Texas hydrogen project
- Exxon’s (XOM) Lawsuit Against Activist Investor Gets Dismissed
- Exxon Mobil suit against Arjuna Capital dismissed, NY Times reports
- MRC Global selected by Exxon as primary pipe, valves and fitting provider
- Lyft, 3M upgraded: Wall Street’s top analyst calls