Tag: Petroleum

Guyana to Receive Pyrrhic Profits From ExxonMobil Oil Production

Tina Marie (Ms. Cat)

The profits received by the Guyanese national treasury are minuscule compared to the enormous profits to be reaped by the US oil company ExxonMobil from the exploitation of crude oil in the Stabroek block, located in waters that have not yet been delimited with Venezuela. Although this fact has caused the historical dispute between both nations to heat up, it is paradoxical that Guyana is the least favored in this equation.

Guyana to Receive Pyrrhic Profits From ExxonMobil Oil Production

A Potentially Huge Supreme Court Case Has a Hidden Conservative Backer

Tina Marie (Ms. Cat)

The case, to be argued by lawyers linked to the petrochemicals billionaire Charles Koch, could sharply curtail the government’s regulatory authority.

…

The Cause of Action Institute has disclosed little of its funding*: A year before it was created, the Supreme Court’s Citizens United ruling had enabled billions of dollars in spending by groups that don’t disclose their donors.

A Potentially Huge Supreme Court Case Has a Hidden Conservative Backer

Guess the author doesn’t know how to ‘Google’! 🙄

Related:

*Cause of Action @ SourceWatch (includes tax filings)

Funding

Cause of Action Institute is not required to disclose its funders but major foundation supporters can be found through their IRS filings. Here are some known contributors:

Atlas Network (PDF updated 11-30-23:

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ExxonMobil foresees profit and expansion surge fueled by Guyana, Permian advancements

Tina Marie (Ms. Cat)

ExxonMobil foresees profit and expansion surge fueled by Guyana, Permian advancements

With an annual total capital expenditure and exploration expense projection ranging between US$23 billion to US$25 billion, ExxonMobil is set to allocate US$22-$27 billion annually toward project spending until 2027. This includes a commitment to emerging ventures in lithium and low-carbon initiatives, with an 18% increase in spending in these areas.

Emphasizing its dedication to the energy transition, ExxonMobil’s Low Carbon Solutions division is expected to witness an increase in budget from US$17 billion to US$20 billion between 2022 and 2027, contingent upon government support.

The company plans to ramp up annual share buybacks to $20 billion by 2025, an increase from the current US$17.5 billion, following the completion of the Pioneer merger. Additionally, ExxonMobil continues its divestment strategy for refining operations.

Related:

US Strategic Oil Reserve Refill Is Limited Despite Low Prices

Guayana Esequiba: Geo-economics of an Occupation

Tina Marie (Ms. Cat)

An air of bonanza has raised the projections of the Exxon Mobil corporation, which accumulated around 414 billion dollars in 2022, an unprecedented income in its history, which represents 44.8% more than the previous year. It is a gigantic increase if compared to its crisis in 2020, when its losses put its place in the stock market in jeopardy. Also from the research of that American corporation, it is said that Guyana could become “the country that produces the most barrels of oil per inhabitant in the world, surpassing Kuwait, in that case, when measuring the wealth per capita of its 800 thousand inhabitants, it would become a rich country, since in 2021 its GDP increased by 57.8% and in 2022 by 37.2%”.

Guayana Esequiba: Geo-economics of an Occupation

World Court orders Venezuela to refrain from action in border dispute with Guyana + More

Tina Marie (Ms. Cat)

World Court orders Venezuela to refrain from action in border dispute with Guyana

Friday’s ruling is the latest development in the larger border dispute. The ICJ said in April it had jurisdiction over the case, but a final ruling could be years away.

Interestingly, Judge Joan Donoghue used to work for the US State Department. 🤔

Related:

Essequibo and Other Border Issues: Venezuela’s Territorial Losses to Imperialist Powers Through the Centuries (Part 1)

Previous posts on Venezuela v Guyana

Opposition NGO warns Essequibo question might end up in war between Venezuela and Guyana + More

Tina Marie (Ms. Cat)

Control Ciudadano (Social Watch – CC) Chairwoman Rocío San Miguel said Guyanese President Irfaan Alí’s recent statements regarding the military support of several countries to defend the Essequibo amounted to a “very strong warning for Venezuela,” which will hold a referendum on the matter on Dec. 3.

NGO warns Essequibo question might end up in war between Venezuela and Guyana

Rocío San Miguel is Venezuelan Opposition.

Related:

US Defense officials to visit Guyana amid Venezuela row: Guyanese VP

Both nations claim the 160,000-square-kilometer (62,000-square-mile) region, in a dispute that has intensified since ExxonMobil discovered oil there in 2015.

Another major discovery in Essequibo in October added further to Guyana’s reserves, making them greater than those of Kuwait or the United Arab Emirates.

US Escalates Essequibo Dispute by Militarizing Guyana

Venezuela: Maduro Warns of ExxonMobil Interference Ahead of ‘Historical’ Essequibo Strip Vote

For historical context: The Secret Agenda Behind the Venezuela-Guyana Conflict