Exxon in Guyana: Government approves $9 billion oil-drilling project

  • The small South American country of Guyana is home to immense offshore oil reserves that Exxon is planning to extract.
  • The company already has two drilling projects, and on Wednesday the government approved a third, further cementing the oil giant’s role in the country’s economic future. 
  • Do you have information on Exxon in Guyana? Reach out to this reporter at bjones@businessinsider.com or on WhatsApp at +1-646-768-1657. 
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Exxon, the largest oil company in the West, strengthened its grip on Guyana’s oil riches on Wednesday as it received government approval for a third oil-drilling project, set to produce crude by 2024.

The small South American country is a critical piece of the oil giant’s future as it looks to extract oil cheaply. On Thursday, the price of crude was down about 38% relative to the start of the year,

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