Guyana's Paused Crude Output

Mobius Intel Brief:

In April, Exxon Mobil Corp announced temporary shutdowns for two offshore production projects in Guyana’s Liza field in July and August to connect the Liza gas pipeline — part of a ~$1.9 billion onshore gas-to-power and gas processing project near Wales, Guyana.

Guyanese production data through the beginning of August indicates pipeline connection efforts are underway, with total crude output from Exxon FPSO vessels in July down approximately 37% from the final days of June.

A closer look at changes to U.S. crude imports from Guyana points to U.S. refiners’ preferred Guyanese crude slate, a trend supported by ship-tracking data through early summer. Furthermore, Guyana’s diverse crude grades provide a notable buffer to demand-side risks in 2025+ crude markets, particularly considering the Exxon-led consortium’s three 250 kbpd Stabroek development projects expected to come online by year-end 2027.

Intel Brief Outline

• Paused Guyanese Output - Current Production

  • Guyana’s Most Prolific FPSO Vessels

  • Indications of Preferred Guyanese Import Grades

  • Diverse Crude Slates Hedge Demand-Side Risks

Pro charts, statistics, and analyst insights below.