The Guyana government intended for the $1B to $2B port to facilitate logistics for northern Brazil and anchor an industrial hub for data centers and fertilizer plants. The decision comes as Chevron confirmed plans to sell older US Gulf assets to focus on high-growth areas like the Stabroek block, where it owns a 30% stake. Guyana has led the world in economic growth this year with a rate of 22.3%, driven by oil production that reached 869,000 barrels a day in June.
Saturday, October 24, 2026
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Chevron Drops $2B Guyana Port Project Support
Business3 days ago
Bechtel Group has halted the next stage of engineering for a Guyanese shipping terminal after the project's primary financier withdrew. Bechtel's Guyana manager, Harry Pastuszek, announced Tuesday that Chevron declined to fund additional studies for the site, ending support that had been provided by Hess Corp. before its acquisition by Chevron last year. Bechtel had previously completed the front-end engineering and design for the facility in 2023.
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