Huge profits bubble up from Exxon's big oil find in Guyana
By Charley Blaine
Published on April 11, 2026.
Exxon Mobil's CEO, Darren Woods, stated that Venezuela was not investable for the company due to its rules and laws, and that it had previously had its operations nationalized by the Venezuelan government twice. However, the company's future lies in the Stabroek Block, 120 miles off the coast of Guyana, which Exxon sees capable of delivering oil for many years. The discovery has boosted Guyana's economy in a major way. Exxon has invested millions in Georgetown, the country’s capital, where it maintains office and staging area for Stabroeka activities. The company expects daily production from the region to exceed 1 million barrels of oil a day before 2026.
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