Guyana's Fourth Oil Platform: A New Era in Export

Guyana is set to export its first crude shipment from the fourth oil production platform, with Exxon Mobil, Hess, and CNOOC managing production. The export is scheduled between late August and early September, and the government will receive a profit oil share.

The inaugural shipment of crude from Guyana's fourth oil production platform is poised for export between late August and early September, as reported by the government.

Managed by a consortium comprising U.S. giants Exxon Mobil and Hess alongside China's CNOOC, the platform marks a significant milestone in Guyana's burgeoning oil industry.

Each of the consortium partners exports their share of production, with the government also receiving a portion as profit oil, thereby elevating the nation's economic prospects.

(With inputs from agencies.)