ExxonMobil Halts Guyana Operations After Fire on Floating Vessel
XOM sits 53% above its 52-week low of $107.96.
Summary
ExxonMobil suspended operations at its Guyana offshore facility after a laundry-room fire broke out on a floating vessel, according to Bloomberg. The company confirmed the incident in a statement. The suspension affects the Liza Unity operation, which is part of Exxon's key growth area in Guyana. This is the first report of the disruption, which could affect production from one of Exxon's key growth areas. Traders will assess the potential impact on Guyana output, which has been a major driver of Exxon's recent record earnings.
At the time of this announcement, XOM was trading at $165.20 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $678.9B. The 52-week trading range was $107.96 to $176.41. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.