News
March 22, 2024
Exxon Mobil Corp. is convinced its interpretation of intent in a Guyanese oil contract signed a decade ago will prevail in a landmark arbitration case against Chevron Corp.
News
March 21, 2024
CNOOC will do whatever it takes to protect the interests of the firm and its shareholders by legal means, he said at a briefing in Hong Kong. Guyana’s Stabroek block is expected to yield as much as 1.2 MMbpd by 2027, Chief Financial Officer Wang Xin told the event.
News
March 20, 2024
Petrobras expects to invest roughly $7.5 billion in five years to explore for oil and gas in prospective regions like the Santos basin, Pelotas basin and Equatorial Margin. Mendes also revealed that the company plans to drill two Colombian exploration wells and discussed developing the deepwaters of northeast Brazil.
News
March 19, 2024
This agreement will support Shell’s onshore and offshore assets, providing a suite of services that includes turnaround support for their mature brownfield assets and supporting new greenfield projects.
News
March 19, 2024
Chevron held constructive talks with Exxon and Cnooc over the Stabroek block off Guyana several months ago as part its proposed $53 billion takeover of Hess, which owns 30% of the development, Wirth said at the CERAWeek by S&P Global conference in Houston Tuesday.
News
March 19, 2024
Exxon has accused Chevron of attempting to “circumvent” a contract that gives Woods’ company a right of first refusal over Hess’s 30% stake in Guyana’s Stabroek block. Chevron agreed to buy Hess for $53 billion last year, in large part to gain access to the Guyana project, operated and 45% owned by Exxon.
News
March 18, 2024
The Bluefin well encountered approximately 197 ft (60 m) of hydrocarbon-bearing sandstone and was drilled in 4,244 ft (1,294 m) of water, Exxon said in a statement. Bluefin joins the more than 30 oil discoveries in the Stabroek block since 2015, Exxon added.
News
March 15, 2024
Trinidad’s energy minister and its national gas company’s vice president and bp’s local head and Venezuela’s oil minister had met to discuss developing the Manakin and Cocuina fields as one project. bp operates the Manakin field, which lies in Trinidad’s waters.
News
March 14, 2024
The fight over the future of Ecopetrol — Colombia’s largest company — underscores the rifts that are arising over Petro’s push to eliminate the country’s dependence on oil and gas, which has major implications for its economy and finances.
News
March 12, 2024
The AREA OFF-3 license has substantial existing 2D and 3D seismic coverage, with two previously identified material prospects possessing currently estimated gross resource potential of up to 2 Bboe and up to 9 Tcfg.
News
March 10, 2024
The Petrobras delegation visited oil fields in Lake Maracaibo this week in what people familiar with the matter described as a courtesy trip. Maracaibo is a key production region for Venezuela and an opportunity for the country to resuscitate the linchpin of its economy after years of underinvestment.
News
March 07, 2024
YPF will add three more drilling rigs in the Vaca Muerta this year as it narrows its focus on the shale patch in a bid to spur a 24% year-on-year jump in shale oil production, Marin said. YPF’s shale oil output last year was almost 100,000 bpd.
News
March 07, 2024
The disclosure marks the first time either Hess or Chevron have said Exxon’s push to safeguard its preemption rights in Guyana could delay their merger, initially expected to close by the second half of this year.
News
March 07, 2024
The flow is expected to increase the overall production at Chevron’s three jointly run ventures with the state oil company Petroleos de Venezuela SA by 35% to 250,000 bpd by 2025, leading to more supply shipped to the US.
News
March 06, 2024
Exxon filed for arbitration in the International Chamber of Commerce in Paris on Wednesday. Exxon, as 45% owner and operator of the Guyana project, believes it has a right of first refusal over any change of hands in Hess’ 30% stake and would consider matching Chevron’s valuation.
News
March 06, 2024
Chevron will pay to CEG $12.5 million cash on completion of the transaction. Chevron will carry 100% of CEG Uruguay's share of the costs associated with a 3D seismic campaign on AREA OFF-1, up to a maximum of $15 million net to CEG Uruguay.
News
March 06, 2024
Hedge fund managers that wagered billions on Chevron Corp.’s October deal to buy Hess Corp. are sticking to their bets despite another roadblock that could potentially torpedo the acquisition.
News
March 05, 2024
PETRONAS will drill the Sloanea-2 appraisal well starting in April 2024. A production test will also be carried out. The drilling platform is now drilling the Fusaea-1 exploration well in Block 52 and already drilled the first part of the Sloanea-2 well in February.
News
March 04, 2024
Venezuela and Guyana have disputed the Essequibo region for nearly a century, but tensions escalated after the discovery of massive oil basins in recent years off Guyana’s coast. The country has seen an influx of investments by companies including Exxon Mobil Corp.
News
March 04, 2024
Majors including Shell and Exxon Mobil Corp. have spent billions to acquire concessions and carry out exploration campaigns at pre-salt blocks without announcing significant discoveries and have even returned some of the blocks to Brazil’s oil regulator, known as ANP.
News
February 28, 2024
BL’s operations in Singapore will provide a tow master to act as client representative throughout the 12,108 nautical mile towage. The tow master will supervise and ensure that all marine operations in the leadup and sailaway from Yantai CIMC Raffles Shipyard are carried out in-line with approved recommendations and procedural documentation.
