07:55 AM EDT, 06/25/2024 (MT Newswires) -- A consortium led by Exxon Mobil ( XOM )-led (XOM) in Guyana generated $6.33 billion last year, delivering a higher net margin than semiconductor maker Nvidia (NVDA), Reuters reported on Tuesday, citing Guyana government data.

The net margin of Exxon's consortium was 56%, surpassing Nvidia's 49%, the report said.

The Stabroek offshore venture's revenue rose 23% to $11.25 billion, driven by a third production vessel, which produced 630,000 barrels per day.

Exxon's net profit was $2.9 billion, Hess (HES) earned $1.88 billion, and CNOOC took home $1.52 billion from the Stabroek joint venture, the report said, citing government data.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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