Exxon Mobil Corp | | Energy Analytics Institute (EAI)

Quick Comparison: Liza 1 And Payara Developments

ENERGY ANALYTICS INSTITUTE (EAI)October 5, 2020October 6, 2020

(Energy Analytics Institute, 5.Oct.2020) — Major differences in the licenses for the Liza Phase 1 and Payara developments offshore Guyana in the Stabroek Block as provided by Guyana’s Ministry of...

Argentina Latin America and Caribbean

Eleven Rigs Reactivated In The Vaca Muerta In Neuquén

ENERGY ANALYTICS INSTITUTE (EAI)October 3, 2020October 5, 2020

(Energy Analytics Institute, 3.Oct.2020) — Argentina’s Neuquén Ministry of Energy data reveal 11 drilling rigs have been reactivated in the province, and all targeting the Vaca Muerta formation. Of the...

Latin America and Caribbean

Payara Licence A Major Improvement On Liza 1

ENERGY ANALYTICS INSTITUTE (EAI)October 3, 2020October 6, 2020

(DPI, 3.Oct.2020) — The new licence issued to Esso Exploration and Production Guyana Limited (EEPGL) for the development of its Payara well features significant new clauses missing from the Liza 1...

Brazil Latin America and Caribbean

Petrobras Finds Oil At Campos Basin Well

ENERGY ANALYTICS INSTITUTE (EAI)September 23, 2020September 23, 2020

(Petrobras, 23.Sep.2020) — Petrobras found the presence of hydrocarbons in the pioneer well of block C-M-657, located in the pre-salt of the Campos Basin. Well 1-BRSA-1376D-RJS (Naru) is located approximately...

Latin America and Caribbean Venezuela

Rafael Ramirez: Venezuela Can Fix Its Own Oil Industry

ENERGY ANALYTICS INSTITUTE (EAI)September 8, 2020September 10, 2020

(Argus, 8.Sep.2020) — Rafael Ramirez served as Venezuela's oil minister from 2002-2013 and concurrent chief executive of state-owned PdV from 2004-2013, a tumultuous period marked by an oil strike and...

Latin America and Caribbean Suriname

Big Oil Sees Major Potential In Suriname

ENERGY ANALYTICS INSTITUTE (EAI)September 7, 2020September 8, 2020

(Oilprice.com, 7.Sep.2020) — Suriname is one of Latin America’s poorest countries. Up until July 2020, the former Dutch colony was mired in a political crisis that emerged from the hotly...

Guyana Latin America and Caribbean Suriname

Guyana And Suriname To Benefit From Joining Forces

ENERGY ANALYTICS INSTITUTE (EAI)August 24, 2020August 24, 2020

(Energy Analytics Institute, 24.Aug.2020) — Neighboring Guyana and Suriname in South America have been well off investor’s radars until recently. The countries are now regular headlines due to offshore crude...

Guyana Latin America and Caribbean

Payara, Payara, Payara!

ENERGY ANALYTICS INSTITUTE (EAI)August 13, 2020August 14, 2020

(Kaieteur News, 13.Aug.2020) — Payara will be proof and pave the way. Payara could be the first plank toward petroleum prosperity. That delay pending review is a constructive move. For...

Guyana Latin America and Caribbean

Payara Permit Approval On Hold Until Expert Found

ENERGY ANALYTICS INSTITUTE (EAI)August 12, 2020August 13, 2020

(Stabroek News, 12.Aug.2020) — In a key oil sector decision, President Irfaan Ali last evening said that his government is lobbying for technical and financial support to have an international...

Guyana Latin America and Caribbean

Guyana Could Clear ExxonMobil’s Payara Project

ENERGY ANALYTICS INSTITUTE (EAI)August 11, 2020August 13, 2020

(Argus, 11.Aug.2020) — Guyana's new government will decide by the end of August whether to approve ExxonMobil's 220,000 b/d Payara project, natural resources minister Vickram Bharrat said. Payara is ExxonMobil's...

Guyana Latin America and Caribbean

Guyana Election Casts Shadow Over Oil Finds

ENERGY ANALYTICS INSTITUTE (EAI)August 1, 2020August 1, 2020

(Forbes, 1.Aug.2020) — Hess Corp. reported more good news from its joint development of Guyana’s Stabroek Block with ExxonMobil and CNOOC on Thursday. The company announced that recently-completed appraisal drilling...

Guyana Latin America and Caribbean

Vote Standoff Prolongs Guyana Uncertainty

ENERGY ANALYTICS INSTITUTE (EAI)July 13, 2020July 14, 2020

(Argus, 13.Jul.2020) — Guyana's political stalemate is prolonging uncertainty over the future management of the South American country's fledgling oil sector, and raising the prospect of US sanctions. The declaration...

Argentina Latin America and Caribbean

Argentina Puts Damper On Oil Demand, Production

ENERGY ANALYTICS INSTITUTE (EAI)June 26, 2020July 1, 2020

(S&P Global Platts, 26.Jun.2020) — Argentina has extended a 99-day-old economic lockdown for three more weeks to try to contain a surge in coronavirus cases, including by tightening restrictions on...

Guyana Latin America and Caribbean

Guyana’s Crude Flow Drops On Technical Glitch

ENERGY ANALYTICS INSTITUTE (EAI)June 9, 2020June 15, 2020

(Argus, 9.Jun.2020) — Guyana's crude production has plunged by 65pc to 27,500 b/d from early May because of technical problems with compression equipment. "We do not know how long this...

Guyana Latin America and Caribbean Suriname

Winds Shifting In Oil-rich Guyana, Suriname

ENERGY ANALYTICS INSTITUTE (EAI)June 8, 2020June 8, 2020

(Argus, 8.Jun.2020) — Opposition parties pledging oil policy changes in Guyana and Suriname are close to taking power, but incumbents are signaling reluctance to step down. Guyana's opposition People's Progressive...

Guyana Latin America and Caribbean Suriname

Petronas Farms Down 50% In Block 52 To Exxon

ENERGY ANALYTICS INSTITUTE (EAI)May 19, 2020May 20, 2020

(Petronas, 19.May.2020) — Petronas through its subsidiary, Petronas Suriname Exploration & Production B.V. (PSEPBV), has completed the farm-down of 50 per cent of its participating interest to ExxonMobil Exploration and...

Guyana Latin America and Caribbean

Over 30 Cos Vie For Guyana Oil Trading Contract

ENERGY ANALYTICS INSTITUTE (EAI)April 21, 2020April 25, 2020

(Reuters, 21.Apr.2020) — More than 30 companies, including commodities traders like Gunvor and Vitol as well as units of oil majors like Exxon Mobil and Royal Dutch Shell, submitted expressions...

Guyana Latin America and Caribbean

Guyana Needs Protection From Selling Oil At A Loss

ENERGY ANALYTICS INSTITUTE (EAI)April 14, 2020April 16, 2020

(Stabroek News, 14.Apr.2020) — Before we approve Payara and Hammer-head, let’s renegotiate the contract to include control of how much oil is being pumped given market conditions. Dear Editor, Many...

Brazil Latin America and Caribbean

Petrobras Finds Oil At Araucária Prospect

ENERGY ANALYTICS INSTITUTE (EAI)April 2, 2020April 7, 2020

(Petrobras, 2.Apr.2020) — Petrobras informs that it has identified the presence of oil in the pioneer well of the Uirapuru block, located in the Santos Basin pre-salt. The pioneer well...

Guyana Latin America and Caribbean

As Guyana Elections Remain Up In The Air

ENERGY ANALYTICS INSTITUTE (EAI)March 8, 2020March 9, 2020

(News America, 8.Mar.2020) — As tension continues in Guyana one week after its general elections and a top court upheld an injunction blocking the elections commission from proclaiming a winner...

Guyana Latin America and Caribbean

Guyana’s Burgeoning Oil Wealth Kindles Contract Row

ENERGY ANALYTICS INSTITUTE (EAI)January 30, 2020February 19, 2020

(S&P Global Platts, 30.Jan.2020) — ExxonMobil's growing oil discoveries offshore Guyana are amplifying domestic calls for a review of production-sharing contract terms on the eve of the small South American...

Guyana Latin America and Caribbean

Hess Announces Oil Discovery At Uaru

ENERGY ANALYTICS INSTITUTE (EAI)January 27, 2020January 30, 2020

(Hess, 27.Jan.2020) — Hess announced another oil discovery offshore Guyana at the Uaru well, the 16th discovery on the Stabroek Block. The company also announced an increase in the estimated...

Guyana Latin America and Caribbean

Guyana Searches For Firm To Trade Its Crude

ENERGY ANALYTICS INSTITUTE (EAI)January 23, 2020January 26, 2020

(Reuters, 23.Jan.2020) — Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the...

Asia Guyana Latin America and Caribbean

CNOOC Says Liza Field Offshore Starts Production

ENERGY ANALYTICS INSTITUTE (EAI)December 20, 2019January 2, 2020

(CNOOC, 20.Dec.2019) — CNOOC Limited announced 20 Dec. that Liza field offshore Guyana has safely commenced production ahead of schedule. Liza Phase 1 development project is located in the Stabroek...

Guyana Latin America and Caribbean

ExxonMobil Plans 31-Well Program In Guyana

ENERGY ANALYTICS INSTITUTE (EAI)December 6, 2019December 10, 2019

(Zacks Equity Research, 6.Dec.2019) — Exxon Mobil Corporation is planning to commence a 31-well exploration campaign offshore Guyana, per Argus. The company has submitted requests to the Environmental Protection Agency...

Guyana Latin America and Caribbean

Why ExxonMobil’s Guyana Success May Have Hurt Petrobras

ENERGY ANALYTICS INSTITUTE (EAI)November 20, 2019November 27, 2019

(The Motley Fool, John Bromels, 20.Nov.2019) — Oil is a big business with even bigger money attached. That's why governments that control oil assets are eager to auction them off...

Europe Guyana Latin America and Caribbean

Saipem Inks Subsea Contract In Guyana

ENERGY ANALYTICS INSTITUTE (EAI)November 14, 2019November 17, 2019

(Saipem, 14.Nov.2019) — Milan-based Saipem has been awarded a subsea contract by ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) for the proposed Payara development project located in the...

Australia-Oceania Europe Latin America and Caribbean Venezuela

Rosneft Cool On Venezuela’s Sweeter Gas Terms, For Now

ENERGY ANALYTICS INSTITUTE (EAI)November 6, 2019November 10, 2019

(Argus, 6.Nov.2019) — Venezuela is offering sweeter fiscal terms to Russia's state-controlled Rosneft for two offshore natural gas fields that are well-positioned to supply nearby Trinidad and Tobago, but the...

Brazil Latin America and Caribbean

Brazil’s $50bn Oil Boom Is Falling Apart

ENERGY ANALYTICS INSTITUTE (EAI)October 31, 2019November 3, 2019

(Oilprice.com Julianne Geiger, 31.Oct.2019) — Exxon may not be interested in stepping up to the bidding plate at Brazil’s massive $50 billion transfer of rights auction next week, because the...

Africa Asia Australia-Oceania Brazil Europe Latin America and Caribbean North America USA

ANP 16th Round Attracts Record R$8.9bn Signings

ENERGY ANALYTICS INSTITUTE (EAI)October 10, 2019October 20, 2019

(ANP, 10.Oct.2019) — The 16th Bidding Round collected R$ 8.9 billions in signature bonuses, a record value among the concession rounds already held in Brazil. The round will generate investments...

Latin America and Caribbean North America USA Venezuela

Exxon Mobil Bars Use Of Oil Tankers Linked To Venezuela

ENERGY ANALYTICS INSTITUTE (EAI)October 4, 2019October 8, 2019

(Reuters, Jonathan Saul and Collin Eaton, 4.Oct.2019) — Exxon Mobil Corp this week banned the use of vessels linked to oil flows from Venezuela in the last year, according to...

Guyana Latin America and Caribbean

Guyana Must Learn To Use Its Riches

ENERGY ANALYTICS INSTITUTE (EAI)September 26, 2019September 29, 2019

(Upstream, Gareth Chetwynd, 26.Sep.2019) — As development on Guyana’s Stabroek block continues apace, it is worth considering that the Liza development took form in an era when low oil prices...

Colombia Latin America and Caribbean

Four Colombia fracking Projects Could Attract $5bn In Yearly Investments

ENERGY ANALYTICS INSTITUTE (EAI)September 24, 2019September 29, 2019

(Reuters, 24.Sep.2019) — Four fracking pilot projects in Colombia could bring in $5 billion annually in investment once they are in the production phase, industry leaders said on Tuesday, as...

Guyana Latin America and Caribbean

Hess Says Liza Destiny FPSO Arrives Offshore Guyana

ENERGY ANALYTICS INSTITUTE (EAI)August 29, 2019September 10, 2019

(Hess, 29.Aug.2019) — Hess Corporation announced that the Liza Destiny, Guyana’s first oil production vessel, has arrived at the Stabroek Block. Source: Exxon The Floating, Production, Storage and Offloading (FPSO)...

Latin America and Caribbean Suriname

Suriname Seeking Funds for Offshore Exploration

ENERGY ANALYTICS INSTITUTE (EAI)August 16, 2019July 10, 2020

(Reuters, 16.Aug.2019) — Suriname's state-owned oil company is planning a bond sale next year to finance offshore oil exploration, its chief executive said on Thursday, as it seeks to capitalize...

Guyana Latin America and Caribbean

Guyana Find Progresses Amid Political Tensions

ENERGY ANALYTICS INSTITUTE (EAI)July 29, 2019August 12, 2019

(Forbes, David Blackmon, 29.Jul.2019) — Nothing is ever easy or simple in the world of international offshore oil and gas development. That axiom is proving to be true for the...

Latin America and Caribbean Mexico North America USA

US’ Refineries Need Mexican Crude Oil

ENERGY ANALYTICS INSTITUTE (EAI)June 5, 2019June 5, 2019

(CNN, Matt Egan, 5.Jun.2019) — The Trump administration's threatened tariffs on Mexico couldn't come at a worse time for America's oil refineries. Mexico is the No. 2 foreign source of...

Guyana Latin America and Caribbean

Hess Sanctions Liza Phase 2 Development Offshore Guyana

ENERGY ANALYTICS INSTITUTE (EAI)May 3, 2019May 6, 2019

(Hess, 3.May.2019) — Hess Corporation today announced it has received regulatory approval from the government of Guyana and has made a final investment decision to proceed with the second phase...

Asia

CNOOC Limited Announces Key 1Q:19 Operational Statistics

ENERGY ANALYTICS INSTITUTE (EAI)April 25, 2019May 1, 2019

(CNOOC Ltd. 25Apr.2019) — CNOOC Limited announced its key operational statistics for the first quarter of 2019. The Company achieved a total net production of 120.1 million barrels of oil...

Argentina Asia

Qatar Petroleum Wins Exploration Rights In 5 Offshore Blocks In Argentina

ENERGY ANALYTICS INSTITUTE (EAI)April 16, 2019April 23, 2019

(Qatar Petroleum, 16.Apr.2019) — Qatar Petroleum has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina. Mr. Saad Sherida Al-Kaabi. Source: Qatar...

Guyana Latin America and Caribbean North America USA Venezuela

Political Shakeup In Oil-Rich Guyana

ENERGY ANALYTICS INSTITUTE (EAI)March 27, 2019March 28, 2019

(RT, 27.Mar.2019) — A political shakeup in oil-rich Guyana, which neighbors OPEC’s Venezuela, in South America. RT America’s Michele Greenstein joins Scottie Nell Hughes to explain how oil discoveries have...

Guyana Latin America and Caribbean North America USA

Eco Atlantic Updates Reserve Estimates Offshore Guyana

ENERGY ANALYTICS INSTITUTE (EAI)March 18, 2019March 29, 2019

(Eco Atlantic, 18.Mar.2019) — Eco (Atlantic) Oil & Gas Ltd. announce that Gustavson Associates LLC of Boulder Colorado has completed and delivered an updated NI 51-101 compliant Competent Persons Report...

Africa Brazil Latin America and Caribbean

Why Billions Of Barrels Of Oil Go Untapped In Brazil

ENERGY ANALYTICS INSTITUTE (EAI)March 3, 2019March 4, 2019

(Bloomberg, Peter Millard, 3.Mar.2019) — There’s enough as-yet-unassigned oil under the Atlantic Ocean off Brazil’s Rio de Janeiro to keep the entire world running for almost six months. So why...

Guyana Latin America and Caribbean North America USA

Exxon Getting EPA Approval For Liza Phase 2

ENERGY ANALYTICS INSTITUTE (EAI)February 24, 2019February 25, 2019

(Stabroek News, Marcelle Thomas, 24.Feb.2019) — ExxonMobil is expected to receive its permit from the Environmental Protection Agency (EPA) this week for its Liza Phase 2 operations in the Stabroek...

Europe Latin America and Caribbean Mexico North America USA

Pemex Crude Output Lowest Since Records Began

ENERGY ANALYTICS INSTITUTE (EAI)February 23, 2019February 23, 2019

(Reuters, 23.Feb.2019) — Mexico’s Pemex produced 1.62 million barrels of crude per day in January, less than any month in almost three decades, the state-owned oil company said on Friday,...

Africa Guyana Latin America and Caribbean

Guyana Hopes Oil Will Bring Wealth – Not Corruption And Crisis

ENERGY ANALYTICS INSTITUTE (EAI)February 21, 2019February 22, 2019

(The Conversation, 21.Feb.2019) — When ExxonMobil begins oil production in Guyana next year, mining crude from its seven new deepwater wells, life may change dramatically in this small South American...

Africa Europe Guyana Latin America and Caribbean

Eco (Atlantic) Contracts Stena Forth To Drill Offshore Guyana

ENERGY ANALYTICS INSTITUTE (EAI)February 20, 2019February 20, 2019

(Eco Oil & Gas, 20.Feb.2019) — Eco (Atlantic) Oil & Gas Ltd., along with its partners in the Orinduik Block, offshore Guyana, Total E&P Activités Pétrolières and Tullow Guyana B.V....

Asia Europe Guyana Latin America and Caribbean

The Surprising Next Oil Superpower: Guyana

ENERGY ANALYTICS INSTITUTE (EAI)February 8, 2019February 9, 2019

(Axios, Steve LeVine, 8.Feb.2019) — On the coast of South America, just north of Brazil, lies the impoverished former British colony of Guyana, distantly remembered for a bizarre mass suicide...

Guyana Latin America and Caribbean North America Trinidad and Tobago USA

Esso Invites TT Firms To Sign Up

ENERGY ANALYTICS INSTITUTE (EAI)February 7, 2019February 9, 2019

(Trinidad and Tobago Newsday, Richardson Dhalai, 7.Feb.2019) — TT energy companies are being encouraged to sign up for a chance to be a part of Guyana’s oil and gas exploration...

Guyana Latin America and Caribbean

Is Guyana In Control Of Its ‘Oil Dorado’?

ENERGY ANALYTICS INSTITUTE (EAI)January 28, 2019January 29, 2019

(Stabroek News, Phil Miller, 28.Jan.2019) — Guyana’s High Commission in London threw open its doors on Thursday night to tell investors about the country’s newly discovered oilfields. Tellingly, the event...

Guyana Latin America and Caribbean North America USA Venezuela

Venezuela Disputes Guyana’s Account Of Incident Involving ExxonMobil Ships

ENERGY ANALYTICS INSTITUTE (EAI)January 11, 2019January 14, 2019

(CMC, 11.Jan.2019) — Venezuela has disputed Guyana’s account of what Georgetown said was the dangerous incursion into local waters after a Norwegian ship hired by ExxonMobil was “intercepted” by a...

Guyana Latin America and Caribbean Venezuela

ExxonMobil Issues Statement On Activities In Guyana

ENERGY ANALYTICS INSTITUTE (EAI)December 26, 2018December 27, 2018

(ExxonMobil, 26.Dec.2018) — ExxonMobil said today that drilling and development operations offshore Guyana are unaffected by an incident involving seismic acquisition vessels on Saturday. Two vessels operated by Petroleum Geo-Services...

Europe Guyana Latin America and Caribbean North America USA Venezuela

Venezuela Calls U.S. Comments On Guyana Dispute ‘Interventionist’

ENERGY ANALYTICS INSTITUTE (EAI)December 25, 2018December 27, 2018

(Reuters, 25.Dec.2018) — Venezuela’s foreign ministry on Tuesday described as “interventionist and disrespectful” U.S. comments on a weekend incident in which the country’s navy stopped two ships exploring for oil...

Guyana Latin America and Caribbean North America USA

Hess Corporation Investor Day Highlights: Guyana (Select Slides)

ENERGY ANALYTICS INSTITUTE (EAI)December 12, 2018December 12, 2018

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Guyana Latin America and Caribbean North America USA

Hess Sees Oil Output Driven By Bakken, Offshore Guyana Projects

ENERGY ANALYTICS INSTITUTE (EAI)December 12, 2018December 12, 2018

(Reuters, 12.Dec.2018) — U.S. oil and gas producer Hess Corp. said Dec. 12 it expects output of barrels of oil equivalent to grow more than 10% per year compounded through...

Africa Europe Guyana Latin America and Caribbean

Tullow Oil Eyes Next Hot Spot, Gears Up For Guyana Probe

ENERGY ANALYTICS INSTITUTE (EAI)December 11, 2018December 13, 2018

(Hart Energy, Velda Addison, 11.Dec.2018) — When it comes to navigating the intricacies of the unknown, Tullow Oil is considered an expert, particularly in Africa where it has discovered over...

Latin America and Caribbean Mexico

Mexico’s New President Throws Down Gauntlet To Oil Majors

ENERGY ANALYTICS INSTITUTE (EAI)December 5, 2018December 6, 2018

(Reuters, Frank Jack Daniel and David Alire Garcia, 5.Dec.2018) — Mexico’s new president, Andres Manuel Lopez Obrador, said on Wednesday he would not cancel contracts issued to foreign and national...

Guyana Latin America and Caribbean

Tullow Oil Plans To Drill First Guyana Well In Third Quarter Of 2019

ENERGY ANALYTICS INSTITUTE (EAI)September 5, 2018February 13, 2019

(Reuters, 5.Sep.2018) — Tullow Oil plans to drill its first well in the much-watched Guyana offshore basin in the third quarter of next year in its Orinduik licence bordering discoveries...