ExxonMobil Guyana to release 2023 financials in a month – Routledge

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ExxonMobil will release a report on the 2023 financial results of its Guyana affiliate in a month, its Guyana President Alistair Routledge said during an April 30 press conference. 

They were initially expected in April.

Phillip Rietema, ExxonMobil Guyana’s Chief Financial Officer and Business Services Manager, will take media operatives in Guyana through the results in an upcoming meeting, Routledge said. Exxon prepares its results according to International Financial Reporting Standards. 

The forum is also expected to include a run-down of Exxon’s cost bank reporting concerning Stabroek Block operations. The co-venturers, led by Exxon, recover their expenses by taking up to 75% of annual oil production from the block, as per the petroleum agreement. Guyana audits the costs they claim. Committed investments currently exceed US$54 billion.

The other Stabroek Block partners, Hess and CNOOC, are expected to release the 2023 financial results for their Guyana operations during the same period.

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