Guyana Oil Take From Stabroek Jumps to 39.8% as Exxon Recovers Its Costs
Guyana's share of Stabroek crude has risen to 39.8% from 12.5% after the consortium recovered its costs. This boosts state revenue from the prolific offshore block. The post Guyana Oil Take From Stabroek Jumps to 39.8% as Exxon Recovers Its Costs appeared first on The Rio Times .
Guyana's share of oil production from the Stabroek Block has surged to 39.8%, up from a previous 12.5%, according to Reuters. ExxonMobil-led consortium has recovered its major costs, leaving more oil for profit sharing. The consortium used up to 75% of monthly production to recover costs, and with the full 75% achieved, the state's share rises as contractors recover less.
The cost bank was recovered earlier than expected, boosting Guyana's take. Stabroek output exceeds one million barrels a day, driven by a fifth floating production vessel. The partners in the offshore development are ExxonMobil, Hess (now part of Chevron), and CNOOC. Guyana's government terminated contracts with Vamed Engineering for two hospital projects on 23 July 2026 due to delays and breaches.
The higher share means more revenue for the state from each barrel, potentially funding infrastructure and social programs.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
