ExxonMobil for major write down of gas fields

ExxonMobil on Monday disclosed that it will write down the value of North and South American natural gas fields by a staggering US$17 billion to US$20 billion according to a Bloomberg report.

And as capital spending will be drastically reduced through 2025, Bloomberg noted that the announcement also comes “in the waning days of a grueling year for CEO Darren Woods, who’s taken the heretofore anathema steps of firing em-ployees, curtailing retirement benefits and canceling ambitious growth projects. The former refinery manager has been forced to recast his seven-year, $210 billion blueprint for rejuvenating Exxon’s aging portfolio of crude and gas holdings.”

Guyana has not been negatively impacted by Exxon’s reduction decisions as the company continues to be bullish on its operations here.

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Guyana Diaspora Online Forum

We have a large database of Guyanese worldwide.  Most of our readers are in the USA, Canada, and the UK.  Our Blog and Newsletter  would not only carry  articles and videos on Guyana, but also other articles on a wide range of subjects that may be of interest to our readers in over 200 countries, many of them non-Guyanese  We hope that you like our selections.

It is estimated that over one million Guyanese, when counting their dependents, live outside of Guyana.  This exceeds the population of Guyana, which is now about 750,000.  Many left early in the 50’s and 60’s while others went with the next wave in the 70’s and 80’s.  The latest wave left over the last 20 years. This outflow of Guyanese, therefore, covers some three generations. This outflow still continues today, where over 80 % of U.G. graduates now leave after graduating.  We hope this changes, and soon.

Guyanese, like most others, try to keep their culture and pass it on to their children and grandchildren.  The problem has been that many Guyanese have not looked back, or if they did it was only fleetingly.  This means that the younger generations and those who left at an early age know very little about Guyana since many have not visited the country.  Also, if they do get information about Guyana, it is usually negative and thus the cycle of non-interest is cultivated.

This Guyana Diaspora Online Forum , along with its monthly newsletter, aims at bringing Guyanese together to support positive news, increase travel and tourism in Guyana and, in general, foster the birth of a new Guyana, which has already begun notwithstanding the negative news that grabs the headlines.  As the editor and manager of the publication, I am committed to delivering Blog entries and Newsletters that are politically balanced, and focused on the positive ideas we wish to share and foster among Guyanese.

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