Exxon Mobil pulls out of talks with Guyana over shallow water oil block, gov says

Reuters11-22

GEORGETOWN, Nov 21 (Reuters) - U.S. oil major Exxon Mobil has pulled out of negotiations with Guyana's government on terms for exploring and developing a shallow-water block, the South American country's vice president said on Thursday.

Exxon, U.S.-based Hess Corp and China's CNOOC

won block S8 in a bidding round launched in late 2022. They had been engaged in negotiations for non-fiscal terms of the project.

The company had wanted to use the offshore area for carbon capture, Vice President Bharrat Jagdeo told reporters in a briefing. It was not immediately clear if Hess and CNOOC continue in talks with the government for the area.

(Reporting by Kemol King; Editing by Marianna Parraga)

((marianna.parraga@thomsonreuters.com; +1 713 371 7559; Reuters Messaging: @mariannaparraga))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment