ExxonMobil’s subsidiary, EEPGL registered a massive profit of $577.7b for 2022, a mind-boggling 437% increase from the previous year.
On Wednesday, ExxonMobil’s local office released the Esso Exploration and Production Guyana Limited (EEPGL) annual report which showed that its profit – which the report describes as comprehensive income – was $577b compared to $132b. The stratospheric increase in profit would be due to the combination of the full-year production from two platforms in addition to higher oil process. While EEPGL’s profit was $577b, Guyana received around $240b in profit oil and royalties for 2022, the report said.