Exxon, Hess slide as says Venezuela deploying military to Guyana’s border

Source: seekingalpha.com seekingalpha.com

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Exxon Mobil (XOM) and Hess (NYSE:HES) each -1.8% in Friday's trading after The Wall Street Journal reported Venezuela is moving light tanks, missile-equipped patrol boats and armored carriers to its border with Guyana, a significant escalation in Venezuela's attempts to gain leverage over Guyana's newfound energy reserves. The deployments are within easy reach of the Stabroek oil block run by Exxon (XOM) and partners (HES) and China's Cnooc off the coast of Guyana, where production has soared to 645K bbl/day of crude. They come despite a written agreement reached in December between Venezuela President Nicolas Maduro and Guyana President Irfaan...