Exxon to Export First Oil from Guyana in Early 2020

U.S. producers Exxon Mobil Corp and Hess Corp plan to export the first-ever shipments of crude oil from Guyana between January and February, a milestone for Latin America’s newest oil producer, sources with knowledge of the plans said.

A consortium including both companies and a unit of China’s CNOOC Ltd have so far discovered more than 6 billion barrels of recoverable oil and gas resources off Guyana’s coast, which could eventually produce 750,000 barrels per day (bpd) for a country that has no history of crude output.

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