WHILE some Guyanese were concerned, on Monday, when news broke that U.S. oil plunged below zero for the first time in history, Exxon Mobil has stated that its operations onboard the Liza Destiny remain unaffected.

The international community was a buzz yesterday when it was reported that U.S. West Texas Intermediate (WTI) crude trades were then at the lowest level dating back to 1946.

In the U.S., WTI is the preferred measure and pricing model while Guyana’s Liza grade crude is marketed against Brent. As of press time, Brent was currently trading at $26.13 per barrel.

Reaching out to ExxonMobil, the Guyana Chronicle was informed that plans for the U.S. oil giant were still moving apace in Guyana.

“Developing the numerous world-class deepwater discoveries offshore Guyana remains an integral part of ExxonMobil’s long-term growth plans. Current operations onboard the Liza Destiny production vessel are unaffected, and startup of the second phase of field development remains on target for 2022,” Public and Government Affairs Advisor at Esso Exploration and Production Guyana Limited (EEPGL), Janelle Persaud said.

On April 7, 2020, the Company had announced that though it is reducing its 2020 capital spending by 30 per cent, and lowering cash operating expenses by 15 per cent, due to the effects of COVID-19, developments offshore Guyana remain an “integral” part of its operations.

COVID-19 has taken a toll on the entire world and businesses such as ExxonMobil, involved in the drilling of oil, have not been able to escape the negative impacts which have vastly reduced the demand for fuel due to a sharp drop in travels.

However, on the local front, the Company continues its operations, both on and offshore Guyana, with special health measures in place.

Persaud told the newspaper that ExxonMobil will continue to monitor the global situation closely and make adjustments as necessary.