'Exxon Proposes Sixth Oil Project In Guyana For $12.9B' - Reuters
Portfolio Pulse from Benzinga Newsdesk
Exxon Mobil Corp has proposed a sixth oil project in Guyana, with an estimated cost of $12.9 billion. The project is expected to produce 250,000 barrels of oil per day.
August 21, 2023 | 7:08 pm
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POSITIVE IMPACT
The proposed Exxon Mobil project could potentially impact the oil market and thus the United States Oil Fund.
The proposed project could increase the supply of oil, which could potentially impact oil prices and thus the performance of the United States Oil Fund.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Exxon Mobil's new oil project in Guyana could potentially increase the company's oil production and revenues.
The new project, if approved and successful, could significantly increase Exxon Mobil's oil production, which would likely lead to increased revenues and potentially a higher stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100