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Started By
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U.S. removal of Maduro likely makes O&G ops in Guyana safer, where Exxon already invests
Posted on 1/14/26 at 10:49 am
Posted on 1/14/26 at 10:49 am
quote:
A couple of years ago, Venezuela's government decided to revive a territorial claim over much of its neighbor, Guyana. The tiny country was emerging as a major oil producer, and Venezuela wanted a piece. Then came Trump and removed the head of that government.
Essequibo lies between Guyana and Venezuela, with both claiming sovereignty, while Venezuela is planning a referendum on Sunday to determine the territory's ownership future.
The 61,000+ square mile territory represents about two-thirds of Guyana's territory and is also the site of a string of huge offshore oil discoveries by Exxon. Those discoveries, the first of which was announced in 2015, were what reinvigorated Venezuela's claim on the territory.
Over the ten years since then, Exxon and its partners in the Stabroek Block have tapped reserves estimated at over 11 billion barrels of crude, and Guyana's production is rising in leaps and bounds. Last year, Exxon reported output of over 660,000 barrels daily in mid-2025, rising further to 900,000 barrels daily, eyeing production capacity of as much as 1.7 million barrels daily by 2030. But Nicolas Maduro's ambitions in Essequibo were threatening that.
quote:
Morningstar director of equity research Allen Good told CNBC. "Now, with the US's intent to control the country, any action by Venezuela becomes even more remote, removing a nuisance for Exxon and Guyana," Good noted.
That would be most welcome news to Exxon, which has turned Guyana's Stabroek Block into a prominent jewel in its crown. Low breakeven costs, massive reserves to recover, and a friendly government determined to make the best of its resources without succumbing to the so-called oil curse-Guyana was a jackpot for Exxon.
It may well be this fact that made chief executive Darren Woods tell President Trump Venezuela was uninvestable without some serious reforms, prompting, in turn, a threat to lock the company out of Venezuela. Would Exxon care? No, it would not because it is the operator of Guyana's only commercial oil project to date and is reaping all the benefits of that position.
quote:
Woods was speaking about Venezuela and the potential opportunities-and challenges there, but at the same time, his speech highlighted all the points that made Guyana a much better bet. It certainly has the resources, it has the investment-friendly legal framework, and, not least, it has no crippling U.S. sanctions to interfere with oil production. Now, with the removal of a Venezuelan incursion, all will be going even better for Exxon in Guyana.
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Posted on 1/14/26 at 11:10 am to ragincajun03
quote:
Now, with the removal of a Venezuelan incursion, all will be going even better for Exxon in Guyana.
Same regime is still in power, right?
Not sure this move makes the disputed area now settled.
This post was edited on 1/14/26 at 11:11 am
Posted on 1/14/26 at 11:24 am to ragincajun03
A lot of the illegals come from Guyana
That’s why you see so few female illegals being deported
That’s why you see so few female illegals being deported
Posted on 1/14/26 at 12:32 pm to ragincajun03
Very few refineries in US can even accept this oil as it is ultra heavy oil. It is some nasty stuff compared to other oils. BUT on the flipside, some refineries were solely built for this level of oil.
This post was edited on 1/14/26 at 12:33 pm
Posted on 1/14/26 at 1:40 pm to oysterpapi
quote:
Very few refineries in US can even accept this oil as it is ultra heavy oil.
I'm far from a petrochemical expert but I thought the oil extracted from the Guyanan coast was light, sweet crude. Which is why XOM was so interested in the play in the early 2010's.
Posted on 1/14/26 at 1:43 pm to ragincajun03
I have an Exxon buddy in Houston that was told on Monday that he is moving to Guyana.
He doesn't know how to tell his wife
He doesn't know how to tell his wife
Posted on 1/14/26 at 1:47 pm to CapitalTiger
quote:
Guyana's Yellowtail crude grade, expected to hit the market in Q3, will be a light-sweet grade, making it an outlier from the other three Guyana grades currently in production and putting it in direct competition with Argentina's Medanito or US WTI. Yellowtail will have an API of 36.5 and a sulfur content of 0.25%, according to a preliminary assay seen by Platts late May 1.
Posted on 1/14/26 at 1:48 pm to Salmon
Good problem to have. He's making money and has a great opportunity
Posted on 1/14/26 at 1:50 pm to el Gaucho
quote:
A lot of the illegals come from Guyana That’s why you see so few female illegals being deported
You know how you'd know?
Uragay.
Posted on 1/14/26 at 4:04 pm to oysterpapi
quote:
Very few refineries in US can even accept this oil as it is ultra heavy oil. It is some nasty stuff compared to other oils. BUT on the flipside, some refineries were solely built for this level of oil.
You are clueless. Guyana crude has been shipped to Exxon Baton Rouge for several years. Most has been going to Europe which cannot refine very heavy crude.
Posted on 1/14/26 at 4:09 pm to CapitalTiger
At first 50% was coming to Exxon Baton Rouge and the rest being sold to Chevron, Richmond, CA which is not closed.
Most has been exported to Europe since 2022.
There is more to crude oil than API gravity and sulfur content. It's the assay showing fractions at different temps. Also, metals content and % residuals/asphaltenes. Taking offshore Gulf Mars crude which is on the heavy side for an intermediate make Marathon Garyville profitable due high in asphaltenes as a refinery built for very heavy crude like from Venezuela
Most has been exported to Europe since 2022.
There is more to crude oil than API gravity and sulfur content. It's the assay showing fractions at different temps. Also, metals content and % residuals/asphaltenes. Taking offshore Gulf Mars crude which is on the heavy side for an intermediate make Marathon Garyville profitable due high in asphaltenes as a refinery built for very heavy crude like from Venezuela
Posted on 1/14/26 at 4:14 pm to el Gaucho
quote:
A lot of the illegals come from Guyana
Not really. A lot of them have immigrated legally to the US because after a college education not jobs in Guyana, but that is being reversed as there are not enough Guyanese in Guyana which is flush with money now. It's no longer a few mines with a lot of rice farming.
Posted on 1/14/26 at 5:51 pm to nes2010
quote:
Guyana's Yellowtail crude grade, expected to hit the market in Q3, will be a light-sweet
RFK will be worried about our obesity numbers with so much more dessert oil showing up.
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