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Trade, industry and the economy — tracking how Guyana's rapid growth reaches businesses and households across the country.

Exxon made US$160 million per day in last quarter as oil prices surged

(CNN) Big Oil is minting money. ExxonMobil and Chevron, the two biggest US oil companies, reported gangbusters profits on Friday driven by the spike in global oil prices unleashed by the US-Iran war. Exxon raked in US$14.5 billion in profit during the second quarter, more than doubling its year-earlier earnings and its highest haul since […] The post Exxon made US$160 million per day in last quarter as oil prices surged appeared first on Kaieteur News.

Kaieteur News4d ago

Oil price rises after Iran says it stops ships in Hormuz

(Reuters) – Oil prices rose on Friday after Iran said it had stopped two vessels seeking to exit the Strait of Hormuz, underscoring concerns over global energy supplies following a drone attack on ships in a Mediterranean Egyptian port this week. Iran said four other tankers turned back after its forces intervened, although the Iranian […] The post Oil price rises after Iran says it stops ships in Hormuz appeared first on Kaieteur News.

Kaieteur News4d ago

Fifth FPSO sets sail to Guyana – ExxonMobil reveals to investors

(Kaieteur News) – ExxonMobil Corporation in its second quarter earnings presentation on Friday revealed that the fifth Floating Production Storage and Offloading vessel (FPSO), Errea Wittu which means “abundance” has set sail to Guyana. The vessel will produce hydrocarbons at the Uaru project, the fifth offshore deep-water development in the Stabroek Block. Uaru will add 250,000 […] The post Fifth FPSO sets sail to Guyana – ExxonMobil reveals to investors appeared first on Kaieteur News.

Kaieteur News4d ago

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