The profit of the consortium led by Exxon Mobil, alongside Hess and CNOOC, in Guyana increased by 64% in 2024, reaching $10.4 billion. This significant surge was driven by facility updates that allowed for sustained production increases.
ExxonMobil Guyana Limited (EMGL) reported a 62% profit surge to $4.73 billion in 2024, up from $2.92 billion the previous year. This reflects Guyana's rapid emergence as a major oil producer in the global energy landscape.
Production across the Stabroek Block, operated by ExxonMobil, increased substantially from 391,000 barrels per day (bpd) to 616,000 bpd throughout 2024. The upcoming Yellowtail project, scheduled to begin production in August, will add up to 250,000 bpd capacity, pushing national oil production capacity beyond 900,000 bpd.
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