XOM - Guyana's Oil Spigot Sputters: Production Delays Reportedly Hit Revenue | Benzinga
The oil and gas production in Guyana reportedly hit construction delays and has threatened to curtail the rising oil hotspot’s revenue by about $1 billion this year.
Guyana’s $1.9 billion gas-to-power project is facing legal battles and potential cost overruns, reported Reuters.
As per the report, the first phase of a 300-megawatt (MW) power plant is running six months later than scheduled, and full operation is not expected until the fourth quarter of 2025.
Exxon Mobil Corporation (NYSE:XOM) is building a 140-mile (225-km) gas pipeline from its offshore Stabroek block to supply the government’s project onshore, as ...