Hess CEO offers upbeat oil demand forecast, says Guyana's potential barely scratched [Yahoo! Finance Canada]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance Canada
balanced than oversupplied this year, despite worries about demand from China and greater production from U.S. and non-OPEC producers. He offered an optimistic view of the shale oil market and the oil producer's own prospects in Guyana in remarks to investors at the Goldman Sachs Energy, CleanTech and Utilities Conference in Miami. Hess cautioned the market could be volatile this year, citing political risks with Iran and Venezuela. "Demand is a little more robust than people thought," said Hess, adding that analysts were looking at projected inventory builds of a million barrels per day, which has been cut by half. Hess also said the company's future in Guyana has a long way to go with production on the discoveries to date still early. He said the Guyana joint venture with Exxon Mobil and CNOOC plans to add two more vessels in 2026 and 2027, bringing the total to six vessels. Even then, those six will only tap five of the 11 billion barrels of oil equivalent that have been disc
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News
- Canada Energy Minister Warns Trump Against an Oil Trade War [BNN Bloomberg (Canada)]BNN Bloomberg
- Canada Energy Minister Warns Trump Against an Oil Trade War [Yahoo! Finance]Yahoo! Finance
- Exxon sees reduced Q4 earnings from lower oil prices, refining squeeze [Seeking Alpha]Seeking Alpha
- Exxon slips after flagging weak fourth-quarter earnings on refining squeeze [Yahoo! Finance Canada]Yahoo! Finance Canada
- Exxon slips after flagging weak fourth-quarter earnings on refining squeeze [Yahoo! Finance Canada]Yahoo! Finance Canada
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