Exxon Mobil's fourth Guyana offshore oil project gets environmental permit

Exxon Mobil Corp. on Friday receives approval to begin work on its fourth offshore oil drilling project in Guyana from the South American country's Environmental Protection Agency.

The permit prohibits routine flaring and venting of natural gas during operation and requires Exxon to keep an undersea device that can close off a well in event of an accident, according to an statement by the Guyana EPA.