financetom
Business
financetom
/
Business
/
Exxon Mobil pulls out of talks with Guyana over shallow water oil block, gov says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Exxon Mobil pulls out of talks with Guyana over shallow water oil block, gov says
Nov 21, 2024 6:48 PM

GEORGETOWN (Reuters) - U.S. oil major Exxon Mobil ( XOM ) has pulled out of negotiations with Guyana's government on terms for exploring and developing a shallow-water block, the South American country's vice president said on Thursday.

Exxon, U.S.-based Hess Corp ( HES ) and China's CNOOC won block S8 in a bidding round launched in late 2022. They had been engaged in negotiations for non-fiscal terms of the project.

The company had wanted to use the offshore area for carbon capture, Vice President Bharrat Jagdeo told reporters in a briefing. It was not immediately clear if Hess and CNOOC continue in talks with the government for the area.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2025 - www.financetom.com All Rights Reserved