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Venezuela is sending troops to its border with neighboring Guyana as tensions continue to escalate over a territorial dispute, raising the risk of a military conflict between the two South American nations. According to a report from The Wall Street Journal citing satellite images and videos made public by the country's military, Venezuelan forces have stationed troops, tanks, missile-equipped patrol boats, and an armored carrier at its border with Guyana. The dispute comes as Venezuela attempts to annex the region of Essequibo, where the country's socialist dictator Nicolas Maduro has said he plans to “grant operating licenses for the exploration...

Despite the dire predictions of peak oil demand, which will is expected to arrive during the next decade as the world transitions to a low-carbon economy, international energy companies are investing heavily in fossil fuel exploration and production. One region which has caught the world by surprise and is attracting significant attention is the Guyana-Suriname Basin. A swathe of world-class discoveries by ExxonMobil in offshore Guyana sparked considerable interest in the Guyana-Suriname Basin, which after poor drilling results during the 1960s and 1970s saw it largely ignored by energy companies. Recent discoveries with estimated recoverable oil resources of more than...

Kingston (Jamaica) (AFP) – Secretary of State Marco Rubio heads Thursday to Guyana to offer to put the newly oil-rich nation under the US security umbrella as neighboring Venezuela asserts claims. A decade after the discovery of vast reserves, the small South American nation is poised this year to become the world's largest producer of oil on a per capita basis, outpacing Qatar and Kuwait. With tensions on the rise between Guyana and US nemesis Venezuela, Rubio will sign a memorandum of understanding that outlines security cooperation, according to the State Department. President Donald Trump's administration said it envisioned a...

South America is teetering on the edge of an armed conflict. #Venezuela argues that the #Esequibo region of #Guyana was unlawfully taken when the border was established over a century ago.

HOUSTON/GEORGETOWN, May 30 (Reuters) - Guyana was already the world’s fastest growing economy before the U.S.-Israeli war on Iran drove up oil prices. Now, the tiny Caribbean nation of nearly 1 million people will reap an even bigger bonanza as the conflict reshapes global energy markets. The war that caused one of the largest energy disruptions in history highlights the growing importance of countries including Guyana that offer political stability and geographically unrestricted access to their estimated ​11 billion barrels of oil reserves. This growing windfall from crude brings pressure from business owners and locals on the government to use...

(The Center Square) - ExxonMobil shareholders on Wednesday approved the board of directors’ plan to redomicile the company's legal headquarters to Texas. Shareholders also rejected a proposal made by two proxy advisory firms urging them to vote against the plan and add more automatic voting options to the company’s retail investor voting program. In March, ExxonMobil Corp., based in Spring, Texas, announced its board unanimously recommended its shareholders approve changing its legal domicile from New Jersey to Texas, where its leadership and core operations have been based since 1989. The board hadn’t held a meeting in New Jersey for more...

Iranian attacks have knocked out 17% of Qatar’s liquefied natural ⁠gas export capacity, causing an estimated $20 billion in lost annual revenue and threatening supplies to Europe ​and Asia, QatarEnergy’s CEO told ​Reuters on Thursday. Saad ​al-Kaabi said two of Qatar’s 14 LNG trains and one of its two gas-to-liquids (GTL) facilities were damaged in the unprecedented strikes. The repairs will sideline 12.8 ⁠million tons ‌per year of LNG for three to ⁠five years, he said. “I never in my wildest dreams would have thought that Qatar would be - Qatar and the region - in such an attack, especially...

The Chavista regime of Nicolás Maduro is playing with fire and knows it! US Secretary of State Marco Rubio issued a stern warning yesterday from Guyana: any aggression against this country or ExxonMobil's operations in the Essequibo will have "serious consequences" for Caracas. In a press conference alongside Guyanese President Irfaan Ali, Rubio didn't mince words: "It would be a very bad day for the Venezuelan regime, a very bad week, and it wouldn't end well." The message is clear: the US will not tolerate the bravado of a declining leftist dictator. Maduro, the tyrant who has plunged Venezuela into...

The Big Three used the power they derive from investing other people’s money to force compliance with a radical political goal. A recent House Judiciary Committee report details how America’s largest financial institutions, colluding with climate activists, imposed radical environmental policies on the American economy, subverting both our self-government and free markets. It focuses on the successful effort to insert climate activist directors on the board of energy giant ExxonMobil. According to the report, there is “substantial evidence of a ‘climate cartel’ of financial institutions” including the “Big Three” asset managers (BlackRock, State Street, and Vanguard), several massive state pension...

When Russia seized Crimea in March, it acquired not just the Crimean landmass but also a maritime zone more than three times its size with the rights to underwater resources potentially worth trillions of dollars. Russia portrayed the takeover as reclamation of its rightful territory, drawing no attention to the oil and gas rush that had recently been heating up in the Black Sea. But the move also extended Russia’s maritime boundaries, quietly giving Russia dominion over vast oil and gas reserves while dealing a crippling blow to Ukraine’s hopes for energy independence. Russia did so under an international accord...

Republican Senator John Cornyn (TX) said he “absolutely” wants to review the House Ethics Committee’s investigation of Matt Gaetz. Fresh off of losing his bid to be Senate Majority Leader, RINO Cornyn told reporters that he wants to see Matt Gaetz’s ethics report after Trump nominated him as US Attorney General. Matt Gaetz resigned from Congress on Wednesday evening after President Trump announced his nomination for US Attorney General.

President-elect Donald Trump should keep the U.S. involved in global efforts to address climate change, Exxon Mobil CEO Darren Woods said Tuesday. Trump should try to bring a “common sense” approach to the annual U.N. Climate Change Conference and “continue to have the U.S. influence policy around the world,” Woods told CNBC Tuesday. Woods spoke from the climate conference, which kicked off this week in Baku, Azerbaijan. Exxon has plans to invest $20 billion through 2027 in carbon capture and storage technology, hydrogen fuel, and lithium mining in the U.S. for electric vehicle batteries. Woods told CNBC on Tuesday that...

A small, quiet Arkansas town home to just 11,100 people is set to become the epicenter of the US 'white gold' boom. Magnolia, a blue-collar town in the state's southern region, was once a locus for oil but is on track to become a major producer of lithium, dubbed 'white gold' because of its soft, silvery-white look and the fact it powers most modern tech - from cellphones to laptops and electric cars. Exxon Mobil is planning to build one of the world’s largest lithium processing facilities near the town, with a capacity to produce 75,000 to 100,000 metric tons...

Far-right Rep. Marjorie Taylor Greene plunged a House Homeland Security Committee hearing into chaos Wednesday by accusing Rep. Eric Swalwell of having a “sexual relationship with a Chinese spy” — leading Democrats to unsuccessfully demand that the remark be purged from the record. Greene (R-Ga.) made the comment moments after Swalwell accused her of “anti-police rhetoric” and showed a print-out of a tweet she wrote promoting “Defund the FBI” merchandise in response to purported bureau bias. “That was quite entertaining from someone that had a sexual relationship with a Chinese spy — and everyone knows it,” Greene shot back, referring...

Near the Gulf Coast just east of Texas’ oil-rich Permian Basin, nearly 2,000 ExxonMobil contractors are making sure the company’s latest project – which includes 26 miles of piping, 35 miles of electrical wiring and 875 tons of steel – is pumping oil at full capacity. senior vice president of global operations detailed how the company’s Beaumont complex is not only fueling U.S. energy supply but also the economy. "When you put it all together and you look at this particular location, what I love about it, it allows us to buy what I consider to be very much needed,...

N'DJAMENA, March 23 (Reuters) - Chad has nationalized all the assets and rights including hydrocarbon permits and exploration and production authorisations that belonged to a subsidiary of Exxon Mobil (XOM.N), the Central African nation's energy and hydrocarbons ministry said in a statement on Thursday. Exxon Mobil said in December that it had closed the sale of its operations Chad and Cameroon to London-listed Savannah Energy (SAVES.L) in a $407 million deal, but the Chadian government contested the agreement, saying the final terms were different from what Exxon Mobil had presented. It warned that it may ask courts to block Savannah's...

RUSH: I had this story yesterday and I didn’t get to it. It’s a Bloomberg story based on an op-ed in the Wall Street Journal by James A. Baker and George Shultz. Now, these two guys date back to the Republican Reagan administration. They are considered Republican royalty. They are called even by the Drive-Bys, they have so much respect now, they’re called elder statesmen in the Republican Party. And according to the Drive-Bys, Democrats, the Republicans don’t have any statesmen, period, but these two guys have written an op-ed pushing a carbon tax. And they had a meeting with...

Over the past five years, the United States’ largest independent oil and gas company, Exxon Mobil, has mostly focused its exploratory activities in South America.Last month, the oil major announced that it had made two new discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, potentially adding more barrels to one of the most closely watched new oil discoveries. ExxonMobil has now made more than 30 discoveries on the block since 2015, and has ramped up offshore development and production at a pace that far exceeds the industry average.In contrast, Exxon’s exploits in Africa have been...

IRVING, Texas – ExxonMobil today released the following statement in response to a letter from President Biden.We have been in regular contact with the administration to update the President and his staff on how ExxonMobil has been investing more than any other company to develop U.S. oil and gas supplies. This includes investments in the U.S. of more than $50 billion over the past five years, resulting in an almost 50% increase in our U.S. production of oil during this period. Globally, we’ve invested double what we’ve earned over the past five years -- $118 billion on new oil and...

The blast at a Texas oil refinery early Thursday will probably push already high gasoline prices even higher — although not immediately. The blast and resulting fire at the ExxonMobil plant in the Houston-area city of Baytown, Texas, injured at least four workers. The accident could hamper output at one of America’s largest refineries for months, weighing on gasoline supply at at time when US refining capacity has already been reduced, said Tom Kloza, chief oil analyst for the Oil Price Information Service. “They’re not going to have all systems go for a couple of quarters,” he said. The average...