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SPRING, Texas - ExxonMobil Guyana, a division of the $451 billion energy giant ExxonMobil (NYSE: XOM), commenced production at Yellowtail, its fourth oil development in Guyana’s offshore Stabroek block, the company announced today. The project’s ONE GUYANA floating production storage and offloading (FPSO) vessel joins three existing FPSOs, increasing the country’s total installed capacity to over 900,000 barrels of oil per day. According to InvestingPro data, ExxonMobil maintains a strong financial health score of 2.5/4, reflecting its operational excellence in global energy markets.
The Yellowtail development, which started production four months ahead of schedule, features the largest FPSO on the Stabroek block with an initial annual average production capacity of 250,000 barrels per day and storage capacity of two million barrels. Oil produced from this facility will be marketed as Golden Arrowhead crude. This expansion aligns with ExxonMobil’s robust operational performance, generating $329.8 billion in revenue and $62.4 billion in EBITDA over the last twelve months.
"Yellowtail’s ahead-of-schedule startup is a significant milestone for ExxonMobil and the people of Guyana," said Dan Ammann, president of ExxonMobil Upstream Company. He noted that Guyanese nationals now comprise more than 67% of the country’s oil-and-gas workforce, with over 2,000 local businesses engaged in the sector.
According to the company, ExxonMobil Guyana expects to achieve a total production capacity of 1.7 million oil-equivalent barrels per day from eight developments by 2030. The company claims its Guyana deepwater developments are among the most successful globally, having started four offshore projects under budget and ahead of schedule within five years.
ExxonMobil Guyana Limited operates the Stabroek block with a 45% interest, while Hess Guyana Exploration Ltd. holds 30% and CNOOC Petroleum Guyana Limited holds 25%.
The information in this article is based on a press release statement from ExxonMobil.
In other recent news, ExxonMobil reported its second-quarter results for 2025, which surpassed Wall Street expectations. The company achieved earnings per share of $1.64, exceeding the forecasted $1.56, and reported revenue of $81.5 billion, surpassing the anticipated $80.78 billion. Following these results, Morgan Stanley raised its price target for ExxonMobil to $135 from $134, maintaining an Overweight rating. This adjustment was attributed to the strong earnings performance and progress on projects. Additionally, HSBC increased its price target for the company to $120 from $119, while maintaining a Hold rating. These recent developments reflect a positive outlook from analysts on ExxonMobil’s financial performance and strategic initiatives.
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