Guyana's Appellate Court Stays Order For Exxon Mobil And Partners To Provide Unlimited Company Guarantee For Oil Spills; Guyana's Appellate Court Says Exxon, Partners Must Provide $2B Guarantee In 10 Days Or Else The Stay Will Be Lifted
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Guyana's Appellate Court has stayed an order requiring Exxon Mobil and its partners to provide an unlimited company guarantee for oil spills. The court now requires a $2 billion guarantee within 10 days, or the stay will be lifted.
June 08, 2023 | 3:35 pm
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Exxon Mobil is no longer required to provide an unlimited company guarantee for oil spills in Guyana, but must provide a $2 billion guarantee within 10 days.
The news is directly related to Exxon Mobil and its partners, as they are now required to provide a $2 billion guarantee instead of an unlimited one. This change may have a neutral impact on the stock price, as it reduces the potential liability but still requires a significant guarantee.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100