Guyana

IEEFA Research

IEEFA update: Eleven facts ExxonMobil would like investors to forget

IEEFA update: Eleven facts ExxonMobil would like investors to forget

Company’s Q2 earnings report reveals current and future challenges

ExxonMobil’s second quarter earnings report contained more red flags than usual (IEEFA update: Exxon’s Q2 report marks another signpost on the long road downwards). Its market capitalization is declining even as the bull market thunders on and it now appears all but certain that the company will fall out of the S&P 500’s top ten, […]

More News and Commentary

IEEFA Africa: Is Angola a cautionary tale for Guyana’s oil wealth hopes?
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IEEFA Africa: Is Angola a cautionary tale for Guyana’s oil wealth hopes?

After 25 years of deepwater drilling, African nation sinks $76B deeper in debt

The  South American country of Guyana, the latest nation to have discovered commercial reserves of oil and gas, hopes to raise its standard of living, cut its debt, eliminate its deficit and create a sovereign wealth fund. It is in a weak position to accomplish these goals.  Consider the example of Angola, which has hosted […]

Special event: Guyana debates offshore oil contracts with ExxonMobil-led consortium

Experts see economic drawbacks and risks for revenues and sovereign wealth fund

Kaieteur News in collaboration with Kaieteur Radio will host a live-streamed end-of-year debate in Guyana on December 31 at 11:00 AM GYT (10:00 AM EST). Panelists will explore Guyana’s first year as an oil-producing state, what went right, what went wrong, the global outlook for oil and gas, and the steps needed to ensure transparency […]

December 23, 2020 Read More →
IEEFA: Does Guyana pay when ExxonMobil drills a dry well?

IEEFA: Does Guyana pay when ExxonMobil drills a dry well?

After Tanager misstep, oil giant needs to answer important questions

Various reports have surfaced that ExxonMobil’s exploration of the Tanager-1 drilling in the Kaieteur Block has discovered reserves that are not commercially viable.  Exploratory wells at the Tanager site will be plugged and abandoned.  The Kaieteur Block is being developed under a contract with the government of Guyana and a consortium of investors led by […]

November 30, 2020 Read More →
IEEFA report: Oil consortium deal with Guyana far from panacea for country’s ailing finances
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IEEFA report: Oil consortium deal with Guyana far from panacea for country’s ailing finances

Large changes in global oil markets and faltering oil companies like ExxonMobil mean smaller revenues and hard choices

October 27, 2020 (IEEFA) — A multibillion-dollar partnership between the republic of Guyana and a consortium led by some of the world’s largest oil and gas companies will not yield enough cash over the next five years for Guyana to close deficits, support new spending and build a Sovereign Wealth Fund.  Beyond five years, the […]

IEEFA update: Eleven facts ExxonMobil would like investors to forget
and

IEEFA update: Eleven facts ExxonMobil would like investors to forget

Company’s Q2 earnings report reveals current and future challenges

ExxonMobil’s second quarter earnings report contained more red flags than usual (IEEFA update: Exxon’s Q2 report marks another signpost on the long road downwards). Its market capitalization is declining even as the bull market thunders on and it now appears all but certain that the company will fall out of the S&P 500’s top ten, […]