🛢 🇬🇾 🇻🇪 ExxonMobil greenlights Whiptail oil project offshore Guyana, expects production to pass Venezuela

🔶️ Exxon Mobil Corp. formally approved its sixth oil development offshore Guyana that will make the Latin American nation a bigger crude producer than OPEC member Venezuela.

🔶️ Meanwhile, Chevron Corp. is attempting to buy a share of Guyana’s oil bounty through a $53 billion takeover of Hess Corp., which holds a 30% share in the Exxon-led development. Exxon, which owns 45%, is disputing the change of hands via arbitration at the International Chamber of Commerce, arguing that it has a right of first refusal. Chinese oil giant Cnooc Ltd., which also owns a stake, joined Exxon in arbitration last month.

🔶️ The Whiptail project will cost $12.7 billion and produce about 250,000 bpd as soon as the end of 2027, Exxon said in a statement Friday. Guyana’s overall daily crude capacity will climb to 1.3 MMbbl just eight years after the advent of the country’s oil production.

🔶️ Guyana’s boom comes as neighboring Venezuela, a co-founder of the Organization of Petroleum Exporting Countries, grapples with years of underinvestment and international sanctions that slashed oil production and government revenues.

https://www.worldoil.com/news/2024/4/14/exxonmobil-greenlights-whiptail-oil-project-offshore-guyana-expects-production-to-pass-venezuela/

Canada's Capital Gains Tax Rate Jumps To 67%: 'Highly Indebted Western Governments Have Promises To Keep, Wars To Fund,' Strategist Says

The Canadian government has announced several new tax increases in the latest budget released this week to cope with its debt.

The country’s capital gains tax will spike to 67% for earnings surpassing $250,000 in the year.

This establishes Canada as the nation with the world’s highest capital gains tax rate, surpassing Denmark’s second-place rate of 42%.

https://markets.businessinsider.com/news/etf/canada-s-capital-gains-tax-rate-jumps-to-67-highly-indebted-western-governments-have-promises-to-keep-wars-to-fund-strategist-says-1033267038

📁 Population in 2100, as projected by UN Population Division.

🇮🇳 India: 1,533 million
🇨🇳 China: 771 million
🇳🇬 Nigeria: 546 million
🇵🇰 Pakistan: 487 million
🇨🇩 Congo: 431 million
🇺🇸 US: 394 million
🇪🇹 Ethiopia: 323 million
🇮🇩 Indonesia: 297 million
🇹🇿 Tanzania: 244 million
🇪🇬 Egypt: 205 million
🇧🇷 Brazil: 185 million
🇵🇭 Philippines: 180 million
🇧🇩 Bangladesh: 177 million
🇳🇪 Niger: 166 million
🇸🇩 Sudan: 142 million
🇦🇴 Angola: 133 million
🇺🇬 Uganda: 132 million
🇲🇽 Mexico: 116 million
🇰🇪 Kenya: 113 million
🇷🇺 Russia: 112 million
🇮🇶 Iraq: 111 million
🇦🇫 Afghanistan: 110 million

@FinancialWorldUpdates

🇨🇳 New structure of the PLA

Four branches of the armed forces:

▪️ Ground forces
▪️ Navy
▪️ Air Force
▪️ Rocket troops.

Four separate branches of the military, the first three of which were created as a result of reform of the Strategic Support Forces:

▪️ Military space forces
▪️ Cyberspace forces
▪️ Information support forces
▪️ Joint logistics forces.

🇨🇳 China is stockpiling everything from Copper to Oil to Nickel to Iron Ore.

That's what you do AHEAD of a currency devaluation.

China is preparing something major.

More -> https://stenoresearch.com/steno-signals-96-a-major-devaluation-of-the-cny-could-be-imminent/

🇨🇳 The Chinese Oil reserves are almost 2x those of the US

They obviously need larger reserves as a smaller producer, but why is China stockpiling to this extent?

Full story:
https://stenoresearch.com/steno-signals-96-a-major-devaluation-of-the-cny-could-be-imminent/