PANAMA CITY, PANAMA (By Piero Stewart, Energy Analytics Institute, 25.Sep.2025, Words: 160) — ExxonMobil Guyana Limited selected TechnipFMC to supply subsea production systems for its Hammerhead development in Guyana’s Stabroek block. The award is substantial with an estimated value between $250mn-$500mn.
Tag: Exxon Mobil Corp
ExxonMobil Guyana Reports New Oil Find
(ExxonMobil, 15.Mar.2024) — ExxonMobil Guyana announced a discovery at Bluefin in the Stabroek block offshore Guyana, the company’s first discovery of 2024. The Bluefin well encountered approximately 197 feet (60 metres) of hydrocarbon-bearing sandstone and was drilled by the Stena Drillmax drillship in 4,244 feet (1,294 metres) of water. The […]
Guyana Is Trying to Keep Its Oil Blessing From Becoming a Curse
(Bloomberg, 15.Feb.2024) — Guyana has undergone a huge transformation in the near decade since a massive oil discovery off its shores. That’s on full display at the Georgetown Marriott hotel. By sundown, oil executives in branded shirts step out of vans and mingle with tables of development bank officials, already debriefing over yucca […]
Maduro to Permit Development in Disputed Territory
(Reuters, 5.Dec.2023) — Venezuelan President Nicolas Maduro said on Tuesday he would authorize oil exploration in an area subject to a dispute with Guyana, which said it would report his comments to the United Nations and the International Court of Justice (ICJ). Maduro’s pledge to permit development around the Esequibo […]
FPSO Liza Unity Purchase by ExxonMobil Completed
(SBM, 9.Nov.2023) — SBM Offshore and ExxonMobil Guyana Limited, an affiliate of ExxonMobil Corporation, have completed the transaction related to the purchase of FPSO Liza Unity, a few months ahead of the end of the maximum lease term, in Feb. 2024. The purchase allows ExxonMobil Guyana to assume ownership of the unit […]
Denbury Shareholders Approve Merger with Exxon Mobil
(Reuters, 31.Oct.2023) — (DEN.N) said on Tuesday its shareholders approved the company’s merger with Exxon Mobil (XOM.N), with the deal closing expected on Nov. 2. Exxon Mobil in July agreed to buy the Plano, Texas-based Denbury for $4.9 billion to accelerate its energy transition business with an established carbon dioxide (CO2) sequestration […]
Hess Sanctions Uaru Development Offshore Guyana
(Hess, 27.Apr.2023) — Hess Corporation (NYSE: HES) has made a final investment decision to proceed with Uaru, the fifth development on the Stabroek Block, after receiving government and regulatory approvals. Uaru will have a production capacity of approximately 250,000 gross barrels of oil per day with production targeted to startup […]
Exxon Mobil Corp. Sued by EEOC for Race Discrimination
(US EEOC, 2.Mar.2023) — Exxon Mobil Corporation, doing business as ExxonMobil Chemical Corporation, violated federal law when it failed to take effective measures to prevent the display of hangman’s nooses at its Baton Rouge complex, the U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit filed on March 2, […]
Mobil Launches 50% Post-consumer Recycled Plastic Pails in India
(ExxonMobil, 3.Feb.2023) — Mobil™, a global leader in lubrication technology innovation, has launched an initiative to encourage sustainable packaging with its 50% Post-Consumer Recycled (PCR) plastic pails. The PCR pails drive the use of recycled plastic, helping reduce plastic waste, and enabling sustainable progress. The company’s 50% PCR pails, first […]
ExxonMobil Moves Forward with Largest Renewable Diesel Facility in Canada
(ExxonMobil, 26.Jan.2023) — ExxonMobil announced its majority-owned affiliate, Imperial Oil Ltd, will invest about $560mn to move forward with construction of the largest renewable diesel facility in Canada. The project at Imperial’s Strathcona refinery is expected to produce 20,000 barrels of renewable diesel per day primarily from locally sourced feedstocks […]
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Hess’ Guyana Developments and Low Breakeven Prices [PDF Download]
(Energy Analytics Institute, 5.Jan.2023) — Hess Corporation’s activities offshore Guyana in the Stabroek Block over the company exceptional reservoir quality and low development costs. The company’s first four developments offshore offer Brent breakeven prices less than $40/bbl. Highlights – ~$35/bbl Brent breakeven for Liza Phase 1 – ~$25/bbl Brent breakeven […]
Chad Contests Savannah Energy Acquisition of Exxon Mobil Assets
(Reuters, 13.Dec.2022) — Chad may ask its courts to block Savannah Energy‘s purchase of Exxon Mobil Corp‘s assets in the country, saying the final terms of the deal were substantially different from what had been presented to it a year ago. Exxon Mobil closed the $407 million sale of its […]
NRGBriefs: XOM, OXY, CVX Dividends; Hess Guyana Liftings
(Energy Analytics Institute, 27.Jul.2022) — Energy briefs including US Vice President Kamala Harris speaking with Guyana’s President Mohamed Irfaan Ali about energy and other issues; the board of directors of Irving, Texas-based Exxon Mobil Corporation declaring a cash dividend of $0.88 per common stock; Hess Corporation selling 6 one-million barrels […]
Hess Announces Two More Discoveries Offshore Guyana
(Hess, 26.Jul.2022) — Hess Corporation (NYSE: HES) today announced two new discoveries at the Seabob-1 and Kiru-Kiru-1 wells on the Stabroek Block offshore Guyana. The discoveries, which are the sixth and seventh this year, will add to the block’s previously announced gross discovered recoverable resource estimate of approximately 11 billion barrels of […]
Guyana Moves Ahead with Q3 Oil Block Auction
(Reuters, 25.Jul.2022) — Guyana’s government expects that an upcoming auction for oil and gas blocks will attract new companies to its energy industry, President Irfaan Ali said on Monday, following years of domination by U.S. giant Exxon Mobil (XOM.N) and its partners. As part of his first official trip to Washington, Ali […]
Eni to Join Exxon, Total, Shell, Conoco in Qatar’s mega-LNG Expansion
(Reuters, 8.Jun.2022) — Italian producer Eni (ENI.MI) has been picked, along with another four oil majors, by Qatar as partners in the near $30 billion expansion of the world’s largest liquefied natural gas (LNG) project, people with knowledge of the matter said on Wednesday. Exxon Mobil Corp (XOM), TotalEnergies SE (TTEF.PA), Shell (SHEL.L), ConocoPhillips (COP.N) and Eni will participate in the North Field […]
Colombia Higher Court Rules Fracking Pilot Projects Can Go Ahead
(Reuters, 2.Jun.2022) — Investigative fracking operations in Colombia can go ahead after a court in the Andean country’s Santander province on Thursday reversed a lower court’s decision to block two pilot projects. Commercial development of non-conventional energy deposits – such as by hydraulic fracturing, or fracking for hydrocarbons – is […]
Shell Joins Exxon with $1bn Brazil Exploration Setback
(Bloomberg, 16.May.2022) — Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into a profit center. In the past three years, Shell has drilled three exploration wells without finding any commercial volumes, said Marcelo […]
Hess Reveals Three New Finds Offshore Guyana, Boosts Resource Estimate
(Hess, 26.Apr.2022) — Hess Corporation (NYSE: HES) announced an increase in the gross discovered recoverable resource estimate for the Stabroek Block offshore Guyana to approximately 11 billion barrels of oil equivalent, up from the previous estimate of more than 10 billion barrels of oil equivalent. The updated resource estimate includes three new discoveries […]
C2 Communications Partners With Excel Guyana
(C2 Communications, 27.Aug.2021) — C2 Communications, a national award-winning public relations and marketing firm, has partnered with Excel Guyana, Inc. to raise awareness of the diverse business growth opportunities, infrastructure improvements and joint-venture construction projects needed to support Guyana’s oil and gas boom. For more than 30 years, the executive leadership […]
Guyana Re-launches Search For Co. To Market Govt’s Oil
(Reuters, 12.Jul.2021) — Guyana is re-launching a search for a company to market the government’s share of crude oil produced off the South American country’s coast to make the tender process “simpler and more competitive,” the natural resources minister said on Monday. According to the notice published late last week, […]
Venezuela Oil Czar Says Output To Skyrocket, Sanctions Be Damned
(Bloomberg, 21.Jun.2021) — In Venezuela, waiting in line at a gas station — sometimes for days — has become so routine that it’s hard to imagine life without it. But go see Tareck El Aissami, the oil minister, and you’ll find out something magical is about to happen. In weeks, […]
Hess eyes higher, new nameplate capacity at Liza Destiny FPSO
(Aaron Simonsky, Energy Analytics Institute, 26.May.2021, Words: 411) — The Liza Destiny floating production storage and offloading (FPSO) unit offshore Guyana in the Stabroek Block is expected to shutdown briefly in Nov. 2021 to install a new design flash gas compressor. Plans are to debottleneck or optimize the unit so […]
Exxon Activist Wins Partial Glass Lewis Support In Board Fight
(Bloomberg, 17.May.2021) — The activist seeking to revamp the board of Exxon Mobil Corp. received a boost Monday with another prominent shareholder advisory firm recommending investors support two of its four nominees. Glass Lewis & Co. said it agreed with activist investor Engine No. 1 that Exxon’s board had failed […]
Exxon To Restart Gas Compressor At Guyana Platform In June
(Reuters, 14.May.2021) — Exxon Mobil Corp said on Friday it will reinstall a gas compressor at its Liza Destiny platform off Guyana’s coast in June, after an equipment failure last month prompted the company to slash output. The company said in a statement that its Liza-1 project was currently producing […]
U.S. Thirst For Russian Oil Hits Record High
(Bloomberg, 24.Mar.2021) — The oil tankers docking at the refinery in Baytown, Texas, look exactly like many others plying the waters of the Houston Ship Channel. But stashed inside their capacious holds is an unusual cargo: Russian petroleum. The sprawling complex, which belongs to Exxon Mobil Corp., isn’t the only U.S. […]
Exxon Mobil Declares 1Q:21 Dividend
(Energy Analytics Institute, 27.Jan.2021) — Irving, Texas-based Exxon Mobil Corporation announced that its Board of Directors declared a cash dividend of $0.87 per share on the common stock. The dividend is payable on 10 March 2021 to shareholders of record of common stock at the close of business on 10 […]
Suriname Latest Big Oil Find As Industry Cuts Costs
(The New York Times, 20.Jan.2021) — The small South American country has become a hot prospect for oil companies looking to produce fossil fuels while spending less. The Atlantic waters off Guyana have become one of the world’s hottest oil-drilling zones. Now, international oil executives are looking at neighboring Suriname. […]
Guyana Plans To Export 5-6 Crude Cargoes In 2021
(Argus, 22.Dec.2020) — Guyana plans to export “five to six” 1mn bl cargoes of its crude entitlement from the deepwater Stabroek block in 2021 to offset lower-than-expected shipments in 2020, natural resources minister Vickram Bharrat told Argus today. The government had projected five lifts in 2020 but managed only three […]
Petronas Finds Hydrocarbon In Offshore Suriname
(Petronas, 11.Dec.2020) — Petronas through its subsidiary, Petronas Suriname E&P B.V. (PSEPBV) made its first discovery of hydrocarbon in Suriname with the successful drilling of the Sloanea-1 exploration well located in Block 52. PSEPBV is the operator of Block 52 and holds 50% participating interest, together with ExxonMobil Exploration and […]
Exxon’s To Plug Tanager-1 Well Offshore Guyana
(Westmount, 17.Nov.2020) — Westmount Energy Ltd., further to the announcement by Ratio Petroleum Energy Limited Partnership dated today, that the Tanager-1 well, offshore Guyana, has been reported as an oil discovery which is currently considered to be non-commercial as a stand-alone development. The Tanager-1 exploration well is the deepest well […]
Exxon Guyana Conducts Maintenance Operations
(Energy Analytics Institute, 11.Nov.2020) — ExxonMobil Guyana recently conducted maintenance on some oil spill response equipment located offshore the small South America country. “This maintenance and training activity involved deploying some offshore boom that would be used in the event of a spill,” Exxon said 11 November 2020 in a […]
Guyana Says Getting Better Oil Deal
(Energy Analytics Institute, 10.Nov.2020) — The government of Guyana, the newest petro-state in the Latin America and Caribbean region, announced it has made strides in extracting better benefits from oil contracts signed with oil and gas companies exploring offshore including Exxon, Hess and CNOOC, and in particular starting with the […]
ExxonMobil To Reduce US Staff Levels
(Exxon, 30.Oct.2020) — As part of an extensive global review announced earlier this year, the company plans to reduce staffing levels in the United States, primarily at its management offices in Houston, Texas. The company anticipates approximately 1,900 employees will be affected through voluntary and involuntary programs. The workforce reductions […]
Exxon Mobil Corporation Declares 4Q:20 Dividend
(Exxon, 28.Oct.2020) — The Board of Directors of Exxon Mobil Corporation declared a cash dividend of $0.87 per share on the Common Stock, payable on 10 December 2020 to shareholders of record of Common Stock at the close of business on 12 November. This fourth quarter dividend is at the […]
Quick Comparison: Liza 1 And Payara Developments
(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 Natural Resources and summarized here within. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest […]
Eleven Rigs Reactivated In The Vaca Muerta In Neuquén
(Energy Analytics Institute, 3.Oct.2020) — Argentina’s NeuquĂ©n Ministry of Energy data reveal 11 drilling rigs have been reactivated in the province, and all targeting the Vaca Muerta formation. Of the 11: three were recently incorporated by YPF, two by Shell, which was the first company to return, two by Pan […]
Payara Licence A Major Improvement On Liza 1
(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 well licence issued by the APNU+AFC. Vice President Dr. Bharrat Jadgeo on Friday said there were major improvements to the […]
Petrobras Finds Oil At Campos Basin Well
(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 308 km from the city of Rio de Janeiro, in water depth of 2,892 meters, being verified the presence of […]
Stena Carron Arrives To Drill Tanager Prospect
(Energy Analytics Institute, 15.Sep.2020) — Ratio Guyana, an affiliate of Tel Aviv-based Ratio Petroleum, announced the arrival of the Stena Carron drillship to the Tanager prospect and the start of drilling operations, which are expected to take about three months. What follows is an update from Ratio related to its […]
Rafael Ramirez: Venezuela Can Fix Its Own Oil Industry
(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 nationalizations under the late president Hugo Chavez. In this interview, edited for length and clarity, Ramirez, now in exile in […]
Big Oil Sees Major Potential In Suriname
(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 contested May parliamentary elections. It saw incumbent, former military strongman and convicted murderer, Desiree Bouterse replaced by former police chief […]
Guyana And Suriname To Benefit From Joining Forces
(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 oil discoveries, which hold much prospect to change fortunes for both governments and citizens alike if managed properly and by […]
Payara, Payara, Payara!
(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 its part, ExxonMobil is not wasting any time. It has gone on the offensive by delivering the first sorties from […]
Payara Permit Approval On Hold Until Expert Found
(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 expert review Exxon’s Payara project and advise on the way forward. Government, Ali disclosed, has approached Canada for assistance in […]
Guyana Could Clear ExxonMobil’s Payara Project
(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 third development project on the deepwater Stabroek block, but approval was delayed by a five-month political impasse that ended last […]
Guyana Election Casts Shadow Over Oil Finds
(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 at the Yellowtail-2 well yielded a surprising result: The identification of two additional high-quality reservoirs. “The Stena Carron rig recently […]
Vote Standoff Prolongs Guyana Uncertainty
(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 of the winner of the 2 March presidential and parliamentary election has once again been delayed by a standoff between […]
Argentina Puts Damper On Oil Demand, Production
(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 people’s movements in densely populated parts of the country, a decision seen as cutting oil demand and production that had […]
Guyana’s Crude Flow Drops On Technical Glitch
(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 problem will last,” the country’s environmental production agency director Vincent Adams told Argus today. The compression equipment may have to […]