Guyana

Guyana oil consortium, headed by Exxon, sees significant increase in net profit in 2023, outperforming Nvidia’s margins – Reuters

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The Exxon-led Guyana oil group saw a significant increase in net income in 2023, according to a report from Reuters. The company’s margins exceeded those of Nvidia, a major player in the technology industry. This positive financial performance underscores the growing importance of the oil sector in Guyana, as well as the potential for further … Read more

Guyana oil consortium led by Exxon sees significant rise in net profit in 2023, surpassing Nvidia’s margins

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Guyana oil consortium led by Exxon sees significant rise in net profit in 2023, surpassing Nvidia’s margins

Government data from Guyana revealed that last year, an Exxon Mobil-led consortium secured a lucrative deal generating $6.33 billion for partners. The trio enjoyed a combined net margin of 56%, surpassing that of Nvidia Corp. The consortium’s revenue rose by 23% to $11.25 billion in 2023 due to the addition of a third production vessel, … Read more