Chevron has ended its support for further studies of a proposed deep water port in Guyana, a project it inherited when it acquired Hess in July 2025, Bloomberg reported on Wednesday. Hess had paid for early stage front end engineering and design, completed by Bechtel in 2023, and had a notional plan to keep funding the work alongside the government, according to Bechtel’s Guyana manager Harry Pastuszek. Chevron declined to move forward and declined to comment.
Guyana envisions the port, costed by the government at 1 billion to 2 billion dollars, serving northern Brazil’s trade flows and seeding an industrial zone that could include data centres, fertiliser plants and possibly a refinery linked to the country’s growing oil and gas production. The US Export-Import Bank has issued a letter of interest to fund a three phase engineering design study once a feasibility review is finished, and Bechtel is currently doing that feasibility review for the government, updating analysis first done a decade ago by the Inter-American Development Bank.
The decision is a standard post merger portfolio cut with an outsized local effect. Chevron bought Hess for its 30 percent stake in the Stabroek Block, not for a Guyanese port study, and inherited projects that do not compete for capital inside the larger company get dropped. For Guyana, the loss is the sponsor, not the study money: a port pitch anchored by an oil major’s balance sheet now has to be re anchored, with export credit interest but no lead corporate backer.