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   DealBook: OpenAI’s big miss?
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             April 28, 2026
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          Good morning. Andrew here.
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          We’ve got an exclusive on Barry Diller’s plan to overhaul IAC and change its name to People.
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          We’re also looking at whether the criminal case against Jay Powell is really over, and whether OpenAI has fallen behind its own expectations — and what that would mean for its race to go public. More below. (Was this newsletter forwarded to you?
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          Sign up here.
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          )
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            <img alt="Sam Altman, OpenAI’s C.E.O., is seen in profile looking forward." class="css-3vswge" height="400" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F04%252F28%252Fmultimedia%252F28db-altman-zmpg%252F28db-altman-zmpg-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzczNzc4MzcuNDMwMzI1N30:1wHhAT:CLytpdNaUJWf4jcyw66LuPBLkjOnAhYLeeUCabzhceI" style="width:100%;height:auto;display:block;padding-top:10px;padding-bottom:8px" width="600"/>
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            <span style="color:#666;font:normal 14px georgia,serif">
             Sam Altman, OpenAI’s C.E.O.
            </span>
            <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em">
             Haiyun Jiang for The New York Times
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        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Is OpenAI falling further behind?
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Until yesterday, the conversation around OpenAI was about
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Elon Musk’s lawsuit
         </a>
         <span>
          against the artificial intelligence giant.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          But OpenAI may have bigger problems.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          A new report raises questions about the ambitious spending plans of its C.E.O., Sam Altman, and the company’s standing in the A.I. race.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          OpenAI has missed its user and revenue targets,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          The Wall Street Journal reports
         </a>
         <span>
          , citing anonymous sources. Internally, it had sought to hit one billion weekly active ChatGPT users by the end of 2025, a goal it still hasn’t announced, and has seen users defect to rivals.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Sarah Friar, its C.F.O., has told fellow executives that she’s worried about paying for future computing contracts at the current business trajectory, The Journal adds, while directors have been re-examining its data center plans.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Altman and Friar told The Journal that any suggestion that the company would pull back on computing power investments was “ridiculous.”
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The reporting amplifies worries that OpenAI is losing ground,
         </span>
         <span>
          as Google’s Gemini and especially Anthropic’s Claude take more market share, especially in the hugely important enterprise market.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The company last week introduced an A.I. model that it says outperforms on many benchmarks. And it has redoubled efforts to make its Codex A.I. coding tool more competitive against Anthropic’s Claude Code.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Why that matters:
         </span>
         <span>
          Altman has embraced hugely expensive ambitions to expand the company’s computing capacity. But OpenAI has had to pull back on building its own expansive data center clusters, given pushback from potential lenders.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          If it’s falling further behind on business goals, which could further constrain OpenAI’s growth initiatives.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          OpenAI is already taking a risk by revamping its relationship with Microsoft,
         </span>
         <span>
          historically its biggest backer.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          The two companies said yesterday
         </a>
         <span>
          that OpenAI would now be free to provide its models on other cloud providers, but that it also would trim a key revenue-sharing arrangement with Microsoft.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          OpenAI says it now has more business flexibility. But
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Martin Peers of The Information questioned that premise
         </a>
         <span>
          , since it’s unclear whether Amazon’s AWS customers would be willing to switch over from Claude.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          What about the I.P.O.?
         </span>
         <span>
          Remember that some executives want to take the company public by year end. Is that still possible? (Shares of companies linked to OpenAI, including SoftBank and Oracle,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          were down on The Journal’s report
         </a>
         <span>
          .)
         </span>
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              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                In other A.I. news: Google has signed a contract to
               </span>
               <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline;font:normal 17px/25px georgia,serif;vertical-align:middle">
                provide A.I. services for classified Pentagon work
               </a>
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                despite employees’ concerns, The Information reports.
               </span>
              </li>
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            <span>
             HERE’S WHAT’S HAPPENING
            </span>
           </h3>
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        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          A man accused in the White House correspondents’ dinner attack is charged.
         </span>
         <span>
          Federal prosecutors formally accused Cole Tomas Allen of
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          trying to assassinate President Trump
         </a>
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          ; a note that the authorities said had been written by him appeared to express anger about the administration. Some Republicans in Congress
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          amplified Trump’s claim
         </a>
         <span>
          that the episode strengthened his desire for a White House ballroom.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Oil prices climb as Trump spurns Iran’s latest offer.
         </span>
         <span>
          Brent crude, the international benchmark for oil, surpassed $111 today after the
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
         </span>
         <span>
          president yesterday
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          said he was unsatisfied with Tehran’s proposal
         </a>
         <span>
          , which called for resuming full ship traffic through the Strait of Hormuz — including the end of a U.S. blockade on Iranian ports — but left unresolved the fate of Iran’s nuclear program, officials said.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Shares in Bayer fall after a setback at the Supreme Court.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Some justices appeared skeptical
         </a>
         <span>
          yesterday of the German conglomerate’s argument, backed by the Trump administration, that state-level lawsuits over the safety of its Roundup weedkiller should be barred. The E.P.A. has ruled Roundup as safe; a Supreme Court ruling could complicate product safety regulations in the U.S.
         </span>
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            <img alt="Barry Diller, the longtime digital media executive, is seen sitting on a gray couch looking upward." class="css-xsf469" height="333" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F04%252F28%252Fmultimedia%252F28db-diller-wqvl%252F28db-diller-wqvl-jumbo.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzczNzc4MzcuNDMwNzMyNX0:1wHhAT:OZ-6co7xXCPGXLPL9FjVpPwshvhTza5OLvbhfT-Om1M" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
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            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:left">
             <span class="css-1hnedf7" style="color:#666;font:normal 12px georgia,serif">
              Barry Diller, the media mogul, is overhauling his business empire once more.
             </span>
             <span style="margin:0;font:11px/11px georgia,serif;color:#888;letter-spacing:.01em;padding-left:5px">
              Vincent Alban/The New York Times
             </span>
            </span>
           </td>
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         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Diller remakes his empire
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Barry Diller is hitting the reset button. Again.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The media mogul plans to announce today a broad overhaul of IAC, his digital media empire, DealBook is first to report. Its holding company will rename itself People, after its magazine empire, which will become a bigger focus of operations. And it will lean heavily into its 26 percent stake in MGM.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          In the current evolution of the e-commerce market, Diller told DealBook in an interview, new opportunities in areas in which IAC has historically invested big — including online search and marketplaces — became few and far between.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Don’t call this a sunset for Diller’s empire.
         </span>
         <span>
          The media mogul pushed back against the idea that he’s winding down the business. “That’s exactly what they said the last time this happened,” he said. “I like that it’s good clay.”
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          In a memo to employees seen by DealBook, Diller summed up the company’s evolution over about 30 years, from an owner of local TV stations to support the Home Shopping Network into what it is today:
         </span>
        </p>
        <p class="css-14jlz04" style="font:17px/25px georgia,serif;margin:0 50px 15px;color:#666">
         <span>
          I bought into little Silver King Communications in 1995. It had about $40 million in sales, and as it evolved over the next decades, we became HSN, then USA Networks and finally, in 2003, IAC/Interactive Corp, and then even more simply, IAC Inc.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:20px 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          People, the company, will get leaner,
         </span>
         <span>
          as it shifts to a focused media conglomerate from a sprawling digital one:
         </span>
        </p>
        <div style="margin:0 auto;max-width:600px;width:100%">
         <table>
          <tbody>
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            <td style="padding:0 0 5px">
             <ul class="css-1dtd48z" style="color:#000;font:20px georgia,serif;text-align:left;padding-left:50px;list-style-type:square;margin-bottom:10px">
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                It will cut 77 positions, and some high-level executives like its C.F.O., Christopher Halpin, and its chief legal officer, Kendall Handler, will depart. The company employs about 3,500 people.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                The existing leadership team at its People division, led by Neil Vogel, will take the reins of the parent company.
               </span>
              </li>
              <li style="margin:0 0 10px 0;line-height:27.5px">
               <span style="font:normal 17px/25px georgia,serif;vertical-align:middle">
                The company expects to generate about $40 million in annual savings.
               </span>
              </li>
             </ul>
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Diller is particularly excited about what he calls “inversions,”
         </span>
         <span>
          big investments People can make in branded products and services, based on its magazine titles. Instead of licensing brands to others, he sees an opportunity to build or buy businesses that take advantage of the authority of People’s publications.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          And while Diller-owned titles like People and Southern Living may not have the same sparkle as Condé Nast’s magazines, they’re significantly larger and more profitable.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The bottom line:
         </span>
         <span>
          Diller’s management philosophy of “getting smaller to get bigger” will be tested once more.
         </span>
        </p>
        <table width="100%">
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           </td>
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           <td style="border-top:1px solid #dcdcdc;padding-bottom:15px">
           </td>
          </tr>
         </tbody>
        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Powell and the Pirro factor
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The criminal investigation
         </span>
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
         </span>
         <span>
          trailing Jay Powell, the Fed chair, has been quieted — at least for now.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          But will that be enough to end the succession drama hanging over the central bank? On that matter, Jeanine Pirro, the U.S. attorney in Washington, is worth watching, legal experts told Niko Gallogly.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Recap:
         </span>
         <span>
          On Friday, Pirro said the Justice Department would
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          drop its investigation
         </a>
         <span>
          into Powell over his handling of the $2.5 billion renovation of the central bank’s headquarters.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The move
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          mollified Senator Thom Tillis
         </a>
         <span>
          , Republican of North Carolina, who has a key vote on the Senate Banking Committee. He had threatened to withhold support for the confirmation of Kevin Warsh, President Trump’s pick to lead the Fed, until the investigation was closed.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          What stands in the way of Pirro reopening an inquiry?
         </span>
         <span>
          Very little, legal experts say. “A U.S. attorney has exceptionally broad discretion to open and close investigations,” Jonathan Shaub, a professor at the University of Kentucky’s law school, told DealBook. “Once they’ve gotten the confirmation through, if they want to reopen it, she could do that.”
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Another factor:
         </span>
         <span>
          Pirro, a Trump loyalist, could continue the investigation in secrecy. “Pirro has the discretion to say whatever she wants on the record, but do the opposite behind the scenes,” Jed Shugerman, a law professor at Boston University, told DealBook.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          It’s worth noting that Pirro has said she would “not hesitate” to reopen the investigation. And Todd Blanche, the acting attorney general, signaled in an interview with NBC on “Meet the Press” on Sunday that
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          the investigation remained active
         </a>
         <span>
          , though, as he said, it will now be handled by the inspector general.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          The big threat remains.
         </span>
         <span>
          Dropping the investigation “gives cover” to Tillis to advance Warsh’s nomination, but it does little to stop the Trump administration’s attacks on the Fed, Shugerman said. “In reality, President Trump’s threats against Powell” and the administration’s attempt to fire Lisa Cook, a Fed governor, “are bells that cannot be unrung.”
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Central bank watchers fear that Trump’s threats to Fed independence could weaken the institution. Now all eyes are on Powell, as Fed policymakers convene their two-day meeting today. Will Powell
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          stay, or will he go
         </a>
         <span>
          ?
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
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            <div style="width:100%;text-align:center;line-height:0">
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           <td style="padding-bottom:15px;border-bottom:0 solid #dcdcdc">
           </td>
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         </tbody>
        </table>
        <table width="100%">
         <tbody>
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           <td class="css-36ugzx" style="padding-bottom:15px">
           </td>
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        </table>
        <h2 class="css-10nzuqq" style="color:#000;font:700 25px/32px arial,sans-serif;margin:0 0 10px">
         <span>
          Guyana’s wartime oil boom
         </span>
        </h2>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The energy shock wrought by the war in the Middle East has established winners and losers across the globe, and thrust some countries into an outsize role in international markets.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          Tiny, oil-rich Guyana is one. The South American country has become a surprising power player amid the war’s upheaval, Vivienne Walt reports.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          The nation’s president, Mohamed Irfaan Ali, has been courted by
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          President Trump
         </a>
         <span>
          , Prime Minister
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Narendra Modi
         </a>
         <span>
          of India and Qatar’s emir,
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Sheikh Tamim bin Hamad Al Thani
         </a>
         <span>
          . On Friday, Wall Street will focus on how Guyana factors into Big Oil’s profit push, when Exxon Mobil and Chevron report first-quarter results.
         </span>
        </p>
        <table border="0" cellpadding="0" cellspacing="0" style="width:100%">
         <tbody>
          <tr>
           <td style="text-align:center">
            <img alt="A line chart shows the price of Brent crude, the international benchmark for oil, soaring since the start of the Middle East war on Feb. 28." class="css-xsf469" height="536" src="https://inboxflows.com/_/image/https%253A%252F%252Fstatic01.nyt.com%252Fimages%252F2026%252F04%252F28%252Fbusiness%252F28db-chart%252F28db-chart-jumbo.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzdGF0aWMwMS5ueSIsInRpbWUiOjE3NzczNzc4MzcuNDMxMTY2Nn0:1wHhAT:WV90N05yMUEOuiKZE_mD-xyjf5Y85s2B3aU_0luoAZE" style="display:inline-block;width:83%;max-width:500px;height:auto;padding-top:10px;padding-bottom:0;line-height:0" width="500"/>
           </td>
          </tr>
          <tr>
           <td style="text-align:center;width:100%;padding-top:6px;padding-bottom:20px;line-height:12px">
            <span class="css-1wuwhda" style="width:83%;max-width:500px;display:inline-block;text-align:left">
             <span class="css-1hnedf7" style="color:#666;font:normal 12px georgia,serif">
              Brent crude, the international benchmark for oil, has soared since the start of the war in Iran on Feb. 28.
             </span>
            </span>
           </td>
          </tr>
         </tbody>
        </table>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Exxon is so far the biggest winner in Guyana’s bonanza.
         </span>
         <span>
          It made a
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          giant discovery
         </a>
         <span>
          in 2015 in the country’s offshore Stabroek block, which holds an estimated
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          11 billion barrels of oil and gas
         </a>
         <span>
          — enough to keep producing for decades. Exxon has a 45 percent controlling stake in the project, alongside Chevron (through its acquisition last year of Hess) and a Chinese producer, CNOOC.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span>
          As of late 2025, the consortium was producing more than 900,000 barrels of oil a day. Exxon forecasts capacity could expand to
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          1.7 million barrels per day
         </a>
         <span>
          by 2030.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          “Guyana is going to be a very, very important part of Exxon’s business in the region,”
         </span>
         <span>
          Roxanna Vigil, a regional expert at the Council on Foreign Relations, told DealBook.
         </span>
        </p>
        <p style="font:normal 17px/25px georgia,serif;color:#333;margin:0 0 15px">
         <span style="font-weight:700;font-family:arial,sans-serif;color:#000">
          Others are muscling in.
         </span>
         <span>
          Guyana has asked Indian companies to bid on new drilling sites when they come up for auction this year. The country has made it clear that it
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          wants closer ties
         </a>
         <span>
          with New Delhi, which has helped build roads and a stadium for cricket-crazed Guyanese.
         </span>
         <a class="css-sdwaa1" style="color:#286ed0;-webkit-text-decoration:underline;text-decoration:underline">
          Negotiations between the countries
         </a>
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          to build Guyana’s first refinery are underway.
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          Last decade, Exxon and Hess secured deals in which they pay the government of Guyana a relatively small royalty fee of 2 percent. It’s unlikely that new partners, including India, will get similar terms. “We have learned from the mistake,”
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          Another issue hanging over Guyana:
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          Venezuela has a decades-old claim over about two-thirds of Guyana’s territory, including some of Stabroek. That dispute is
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          expected to go to trial
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          The verdict will be widely watched, as it could determine control of some of the richest oil fields in the region — and which oil producers reap the profits.
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                buy ARC Resources
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                , a Canadian shale oil and gas producer, for $13.6 billion, the oil giant’s biggest deal in more than a decade. (Bloomberg)
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                to fight in space
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                The latest potential way to get to and from Kennedy Airport: Joby Aviation’s
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