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- Executive summary
- Hydrogen
- Road transport
- Steel
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+ 3 pages
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Country report
Dec 2025
China’s Official Energy Finance in Emerging and Developing Economies Case 6. CNOOC investment in Guyana: Whiptail Oil Field
…the Guyana basin the company’s largest overseas upstream commitment.While ExxonMobil retains operatorship, CNOOC participates fully in investment decision-making and bears its proportional share of capital and operating costs. Since the developments in the Stabroek Block are financed directly from the partners’ balance sheets rather than through non-recourse project debt, CNOOC’s exposure moves in line with changes in project costs, oil-price dynamics and future operating performance. This differs from many clean energy projects, where high shares of project-finance debt and fixed offtake arrangements can insulate sponsors from part of the underlying risk. Insights a...
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