MARKETWIRE ALERTS

MARKETWIRE ALERTS 

MarketWire Afternoon News for September 22^nd

Updated at 5:00 PM ET 

HEADLINES:

— Los Angeles CARBOB Basis Strengthen to 54cts gallon

— ExxonMobil Finalizes Investment on Guyana’s 7th Oil Block

— Vitol-Breakwell Completes $125M Financing for Gas Company

NEWS:

Los Angeles CARBOB Basis Strengthen to 54cts gallon

September Los Angeles CARBOB basis traded at 54cts premium to October NYMEX RBOB futures Monday (9/22) 22, marking the only reported trade in the LA CARBOB market.
LA CARBOB premium moved in tandem with regular grade, maintaining a 20cts spread, which set today’s assessment at plus 74cts to October RBOB futures.
The market continues to track ongoing operational issues in California. PBF Energy reported flaring at its 166,000 bpd Torrance, California, refinery that began September 19 at 11:05 a.m. PT. The cause remains under investigation, with no estimated stop time, according to a South Coast Air Quality Management District filing.

ExxonMobil Finalizes Investment on Guyana’s 7th Oil Block

ExxonMobil announced Monday (9/22) that it has made a final investment on the near $7 billion Hammerhead development offshore Guyana, after receiving the required regulatory approvals.

The seventh project on the Stabroek block, Hammerhead is anticipated to come online in 2029.

The development will utilize a floating production storage and offloading vessel with a capacity to produce approximately 150,000 bpd. The US$6.8 billion Hammerhead project will include 18 production and injection wells.

More than US$7.8 billion has also been paid into Guyana’s Natural Resource Fund since production in the Stabroek block started in 2019, ExxonMobil said.

ExxonMobil is currently producing nearly 650,000 bopd from the Stabroek block. With the recent  startup of a fourth FPSO, the One Guyana, the company anticipates growing production to more than 900,000 bpd by the end of the year. Construction is underway for the fifth and sixth approved projects, Uaru and Whiptail, with Uaru anticipated to start production in 2026, and Whiptail is anticipated for startup in 2027. ExxonMobil affiliate ExxonMobil Guyana is operator and holds 45% interest in the Stabroek block. Hess Guyana Exploration d. holds 30% interest, and CNOOC Petroleum Guyanad holds 25% interest.

Vitol-Breakwell Completes $125M Financing for Gas Company

The Vitol-Breakwell Capital partnership announced Monday (9/22) that it had competed a $125 million financing deal for an independent, Appalachian-focused natural gas company.

Proceeds from the senior secured, first lien term loan financing will be used to fund development capital expenditures, the partnership said in a statement.

It was the second upstream investment in Appalachia during 2025 for Rotterdam-based energy trader Vitol and US energy markets lender, highlighting the tailored nature of their capital and partnership-driven model.

Formed in 2023, the partnership provides structured credit solutions to North American upstream oil and gas companies and has made commitments exceeding $1 billion thus far.