US supermajor ExxonMobil has officially relinquished 20% of the area of the prolific Stabroek block offshore Guyana.

An Exxon Mobil-led oil consortium has returned 2,534 square kilometers of the Stabroek Block in Guyana back to the government ...

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Chevron is laying the groundwork to swiftly close its planned acquisition of smaller oil producer Hess , according to two ...

Exxon Mobil, leading an oil consortium, has returned a portion of Guyana's Stabroek Block to the government. This move is ...

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This expanded the Stabroek Block’s capacity to 560,000 barrels per day. After enhancements, those facilities, since January 2024, have been pumping over 600,000 barrels per day.

The initiative followed the completion of a $1 billion pipeline last year that will transport gas produced from ExxonMobil's extensive Stabroek Block.

Oil estimates for the Guyana Suriname Basin, particularly Guyana's Stabroek Block, are being revised upwards, with Exxon's 35 discoveries believed to contain over 11 billion barrels of oil.