Exxon-led Guyana oil group's profits soar in 2023, outperforming Nvidia, but face contract disputes

From Investing.com: 2024-06-25 05:11:10

Exxon Mobil-led consortium’s deal with Guyana brings $6.33 billion, outperforming Nvidia. Stabroek venture earns 23% more, reaching $11.25 billion in 2023. Dispute arises over favorable contract terms, with Chevron’s bid to acquire Hess sparking controversy. Hess’s profits saw a 22% increase, surpassing Guyana’s earnings from oil. Exxon, Hess, and CNOOC all see significant profits from joint venture. Guyana revises oil contract terms for greater government share outside Stabroek block, impacting future profits.



Read more at Investing.com: Exxon-led Guyana oil group’s net jumps in 2023, margins top Nvidia’s By Reuters