A key shareholder group for ExxonMobil Corporation is concerned about the safety of the oil giant’s Guyana operations. Specifically, Mercy Investment Services Inc. has filed a proposal, that if approved at an Annual Shareholders Meeting on May 31, 2023, Exxon would be forced to prepare a report on a worst-case scenario for an oil spill in the Stabroek Block.
An audit report produced by IHS Markit of the United Kingdom has revealed that ExxonMobil Corporation’s subsidiary, Esso Exploration and Production Guyana Limited [EEPGL] was allowed to start up the Liza Phase One Project with limited insurance coverage in place. Of equal significance is the fact that ExxonMobil fully owns the company that provided the insurance for the operations.
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