Both ExxonMobil and Hess saw reduced profits in Guyana, according to financial statements seen by OilNOW.
ExxonMobil’s profit was US$4.67 billion in 2025, compared with US$4.73 billion in 2024.
The company’s Vice President and Business Service Manager John Colling told journalists during a June 9 meeting that the main cause of the reduction was a decrease in the average price per barrel to US$68 from US$82 in 2024.
Hess similarly reported profit of US$2.89 billion in 2025, down from US$3.15 billion the year prior. Chevron acquired Hess last year, gaining access to the Stabroek Block, a prolific asset where Exxon has discovered 11 billion barrels of oil equivalent.
The profits went downward despite an increase in oil production in late 2025 mainly due to the startup of the Yellowtail project, which added 250,000 barrels per day (b/d) of new production capacity.
ExxonMobil is the operator of the Stabroek Block with a 45% interest, while Hess (owned by Chevron) holds 30%. CNOOC, the third co-venturer, has a 25% interest.
Oil production from the block currently averages above 900,000 barrels per day from four developments.
