Exxon Ex-Exec's New Firm To Partner On Guyana's Next Gas Project: Report
Portfolio Pulse from Lekha Gupta
Guyana's Ministry of Natural Resources has selected Fulcrum LNG, led by a former Exxon Mobil executive, to partner with Exxon on a new natural gas project. Fulcrum LNG was chosen for its comprehensive proposal among 17 bidders. Preliminary discussions are underway.
June 26, 2024 | 9:35 am
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POSITIVE IMPACT
iShares U.S. Energy ETF (NYSE:IYE) includes Exxon Mobil, which is partnering with Fulcrum LNG on a new natural gas project in Guyana. This development could positively influence the ETF's performance.
IYE holds a significant position in Exxon Mobil. The new natural gas project in Guyana could positively impact Exxon's performance, thereby benefiting IYE.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Energy Select Sector SPDR Fund (NYSE:XLE) provides exposure to Exxon Mobil, which is partnering with Fulcrum LNG on a new natural gas project in Guyana. This could positively impact the fund's performance.
XLE holds a significant position in Exxon Mobil. The new natural gas project in Guyana could positively impact Exxon's performance, thereby benefiting XLE.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Exxon Mobil Corporation (NYSE:XOM) is partnering with Fulcrum LNG on a new natural gas project in Guyana. This collaboration could enhance Exxon's gas development portfolio and potentially increase revenues.
The partnership with Fulcrum LNG on a new natural gas project in Guyana could enhance Exxon's gas development portfolio and potentially increase revenues. The selection of Fulcrum LNG, led by a former Exxon executive, suggests a strong collaboration.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100