Chevron Corp. has decided to halt funding for a proposed deep-water port in Guyana, a project it inherited from Hess Corp. following last year’s acquisition. Hess had previously supported preliminary studies for the port, but Chevron has now opted out of further financial backing.
The Guyanese government is pushing ahead with the port project, which is estimated to cost between $1 billion and $2 billion. The port aims to serve as a logistics hub for northern Brazil and support a proposed industrial zone. This zone could include data centers, fertilizer plants, and potentially a refinery, all tied to Guyana’s expanding oil and gas sector.