GEORGETOWN, GUYANA (AP, 1.Mar.2025) — Guyana’s President Irfaan Ali on Saturday denounced an incursion by an armed Venezuelan naval vessel in disputed waters that are […]
Tag: ExxonMobil
ExxonMobil Completes Argentina Exit
(Camilo Ciruzzi, Energy Analytics Institute, 18.Dec.2024) — Spring, Texas-based ExxonMobil officially completed its exit from Argentina. ExxonMobil’s exit from the South American country has been […]
Amber Energy CEO Resigns from Exxon’s BODs
(Energy Analytics Institute, 17.Oct.2024) — Amber Energy CEO Gregory J. Goff resigned as a member of the board of directors of Exxon Mobil Corporation to […]
Exxon Mobil Signals 2Q Earnings hit from Refining Margins
(Reuters, 8.Jul.2024) — Exxon Mobil said on Monday lower natural gas prices and refining margins are expected to hit the oil major’s second-quarter earnings. The oil […]
ExxonMobil Shuts Hoover Platform as Beryl Approaches
(ExxonMobil, 7.Jul.2024) — As we prepare for severe weather that may impact our Gulf of Mexico operations, our primary focus is the safety of our […]
ExxonMobil and EV battery maker SK On Ink MOU
(ExxonMobil, 25.Jun.2024) — ExxonMobil signed a non-binding memorandum of understanding (MOU) with SK On, a global leading electric vehicle (EV) battery developer, that opens the door […]
ExxonMobil adds Air Liquide to Low-carbon Hydrogen Project
(ExxonMobil, 24.Jun.2024) — ExxonMobil and Air Liquide announced an agreement to support the production of low-carbon hydrogen and low-carbon ammonia at ExxonMobil’s Baytown, Texas facility. The […]
ExxonMobil to Sponsor Porsche Carrera Cup North America Series
(Exxon, 20.Jun.2024) — The impressive field of Porsche 911 GT3 Cup racers competing in the Porsche Carrera Cup North America championship are now fueled by ExxonMobil’s […]
Exxon-Hess Arbitration Panel Incomplete, Hess Sale to Chevron Stalled
(Reuters, 20.Jun.2024) — A contract arbitration panel that could block or green-light the $53 billion sale of Hess Corp to Chevron remains incomplete three months after the case […]
Fulcrum LNG Named to Help Guyana Develop its Gas Resources
(Reuters, 20.Jun.2024) — U.S. firm Fulcrum LNG was selected to help Guyana develop a plan to design, finance, construct and operate a natural gas processing […]
Technip and Turner Awarded Contract by ExxonMobil for Louisiana CCS Project
(Technip, 6.Jun.2024) — Technip Energies (PARIS:TE), in consortium with Turner Industries, has been awarded the Engineering, Procurement, and Construction (EPC) contract by ExxonMobil Low Carbon […]
MODEC Updates on FPSO Errea Wittu
(Go Integrated Group, 26.May.2024) — MODEC recently announced that the keel laying for the FPSO Errea Wittu hull has been completed five weeks ahead of […]
John Hess Personally Calls Investors to Support Chevron Deal Before Vote
(Bloomberg, 22.May.2024) — John Hess, the boss of the oil company that bears his family name, is talking to directly with shareholders in a last-ditch […]
Zachry Initiates Voluntary Court-supervised Chapter 11
(Zachary, 21.May.2024) — Zachry Holdings, Inc. (ZHI) announced that ZHI and certain of its subsidiaries have initiated a voluntary court-supervised Chapter 11 process that provides […]
Petronas Discovery in Suriname Approaches 400 MMbbls
(Petronas, 16.May.2024) — Addressing the recent deepwater discovery by Petronas in Suriname, Mark Oberstoetter, Head of Americas (non-L48) Upstream, said “We understand Roystonea and Fusaea’s […]
Petronas, ExxonMobil Report Find in Suriname’s Offshore Block 52
(Petronas, 16.May.2024) — Petronas Suriname E&P B.V., a subsidiary of Petronas, has made a third hydrocarbon discovery in Block 52 at the Fusaea-1 exploration well […]
Exxon Reports 1Q:24 Results, Updates on Guyana
(Exxon, 26.Apr.2024) — Exxon Mobil Corporation announced first-quarter 2024 earnings of $8.2bn, or $2.06 per share assuming dilution. Capital and exploration expenditures were $5.8bn, consistent […]
Hess Reports Net Production of 190,000 boe/d from Guyana
(Hess, 25.Apr.2024) — Hess Corporation reported that is net Guyana production was 190,000 b/d in the first quarter of 2024, up 70% from 112,000 b/d […]
SBM Awarded Contracts for ExxonMobil Guyana’s FPSO Jaguar
(SBM, 12.Apr.2024) — SBM Offshore announced that ExxonMobil Guyana Limited (EMGL) has confirmed the award of contracts for the Whiptail development project located in the […]
ExxonMobil Guyana Takes $12.7bn FID with Sixth Project Whiptail
SPRING, TEXAS (ExxonMobil, 12.Apr.2024) — ExxonMobil has made a final investment decision for the Whiptail development offshore Guyana, after receiving the required government and regulatory […]
Hess Updates Employees on Chevron Merger
(Hess, 7.Mar.2024) — Today, ExxonMobil announced that it is filing for arbitration regarding the applicability of a right of first refusal (ROFR) / pre-emption provision in […]
Exxon Signals Potential Counter Offer for Hess’s Guyana Assets
(Reuters, 6.Mar.2024) — Exxon Mobil Corp on Wednesday said it filed a contract arbitration claim related to Hess Corp‘s proposed sale of its Guyana oil properties, […]
EAI’s NRGBriefs: Feb. 2024
(Energy Analytics Institute, 29.Feb.2024) — Energy briefs as well as others related to finance and projects during Feb. 2024 including Exxon Mobil and CNOOC considering […]
Exxon’s Curveball Move in Guyana Alters Chevron-Hess Deal Prospects
(Reuters, 28.Feb.2024) — Exxon Mobil‘s surprise challenge to Chevron‘s acquisition of Hess through a dispute over a stake in a major Guyana oil field could […]
Chevron Deal to Buy Hess at Risk as Exxon, CNOOC Eye Guyana Stake
(MarketWatch, 27.Feb.2024) — Chevron warned it may not complete its planned buyout of Hess as Exxon Mobil and the China National Offshore Oil Corporation are […]
Exxon Raises Questions About Chevron’s $53bn Deal for Hess
(The New York Times, 27.Feb.2024) — America’s two largest energy companies, Exxon Mobil and Chevron, are jousting over a prized new source of oil in […]
Chevron Corp. Files S-4, Updates on Stabroek JOA
(Energy Analytics Institute, 26.Feb.2024) — Chevron Corporation believes that the $53bn merger with Hess Corporation presents the California-based energy giant with the opportunity to diversify its […]
Guyana’s $1.9bn Gas-to-power Project Delayed to 2025
(Reuters, 20.Feb.2024) — Guyana will delay until 2025 its biggest effort to capitalize on its energy bounty, a $1.9 billion gas-to-power project that was to […]
Model Updates on EPCI Projects, Brazil FPSOs
(Energy Analytics Institute, 15.Feb.2024) — Modec‘s profits increased significantly due to good progress in the construction work of new EPCI projects and improved asset integrity of […]
DeepOcean Secures Major Contract with ExxonMobil Guyana
DeepOcean, 14.Feb.2024) — Ocean services provider DeepOcean has been awarded a contract by ExxonMobil Guyana for the provision of subsea construction and IMR (inspection, maintenance, […]
ExxonMobil to Explore in Area Disputed by Guyana and Venezuela
(AP, 7.Feb.2024) — ExxonMobil said it plans to explore for oil and gas in a disputed area off South America’s coast where the Venezuelan military […]
ExxonMobil Announces 2023 Results, Updates on Guyana [PDF Downloads]
(Exxon, 2.Feb.2024) — Exxon Mobil Corporation announced fourth-quarter 2023 earnings of $7.6bn, or $1.91 per share assuming dilution. Fourth-quarter results included unfavorable identified items of […]
Recording-Setting Transactions in 4Q:23 Worth for Upstream M&A
(Enverus, 23.Jan.2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, is releasing its summary of Q4 and full-year 2023 upstream merger and acquisition (M&A) […]
BP sees Trinidad Deepwater Gas Getting Greenlight as soon as 2025
(Reuters, 23.Jan.2024) — BP expects the Calypso deepwater natural gas field off Trinidad and Tobago, which it shares with Woodside Energy to get the greenlight when a […]
Exxon Activists Banished Best with Vote, Not Court
(Reuters, 22.Jan.2024) — Exxon Mobil (XOM.N), opens new tab is trying to banish a climate activist proposal in a Texas court. The $385 billion oil giant would be […]
Exxon to Buy Another 1.2 mtpa of LNG from Mexico Pacific
(Reuters, 16.Jan.2024) — Mexico Pacific said on Tuesday it had reached a deal to supply Exxon Mobil with an additional 1.2 million tonnes per annum […]
Mexico Pacific Inks Optional LNG Offtake with ExxonMobil
(Mexico Pacific, 16.Jan.2024) — Mexico Pacific signed a third long-term Sales and Purchase Agreement (SPA) with ExxonMobil LNG Asia Pacific (EMLAP) for an additional 1.2 […]
Key Upstream Things to Watch in 2024: WoodMac
(WoodMac, 10.Jan.2024) — Geopolitical tensions, a record year for elections and economic uncertainty will define the backdrop to the upstream industry in 2024. Wood Mackenzie […]
EAI’s NRGBriefs: Dec. 2023
(Energy Analytics Institute, 31.Dec.2023) — Energy briefs as well as others related to finance and projects during Dec. 2023 including why Venezuela wants to annex […]
Guyana, Venezuela Agree to Not Use Force in Essequibo Spat
(Reuters, 14.Dec.2023) — Guyana and Venezuela on Thursday agreed to avoid any use of force and to not escalate tensions in their long-running dispute over […]
Tensions Soar Between Guyana and Venezuela over Essequibo
(AP, 9.Dec.2023) — A century-old territorial dispute deepened by the discovery of oil is boiling over between neighbors Guyana and Venezuela. Steeped in patriotism, the Venezuelan government […]
Venezuela Issues Arrest Warrants for Opposition Staffers for Treason
(Reuters, 6.Dec.2023) — Venezuela’s attorney general on Wednesday said there are arrest warrants for three people involved in the campaign of opposition presidential nominee Maria […]
ExxonMobil on Earnings from 2019-2027 [PDF Download]
(ExxonMobil, 6.Dec.2023) — ExxonMobil gave an update to its Corporate Plan through 2027, reflecting continued execution of its strategy to provide the products society needs and to […]
Venezuelans Vote on Sovereignty Over Part of Guyana
(CNBC, 4.Dec.2023) — Venezuelans on Sunday voted to claim sovereignty over a large swathe of their oil-rich neighbor Guyana, marking the latest escalation in a […]
FPSO Prosperity Producing and On Hire
(SBM Offshore, 14.Nov.2023) — SBM Offshore announce that FPSO Prosperity has produced first oil as of 14 Nov. 2023 and is formally on hire. The FPSO Prosperity utilizes a […]
ExxonMobil Starts Third Offshore Guyana Project Payara
(Exxon Mobil, 14.Nov.2023) — ExxonMobil started production today at Payara, Guyana’s third offshore oil development on the Stabroek Block, bringing total production capacity in Guyana […]
Exxon Turning Biomass into Fuel
(Exxon Mobil, 13.Nov.2023) — Making a global impact on climate change isn’t easy. Reducing emissions on a global scale requires multiple solutions, and we believe […]
ExxonMobil Drilling First Lithium Well in Arkansas
(Exxon Mobil, 13.Nov.2023) — Exxon Mobil Corporation (NYSE: XOM) announced plans to become a leading producer of lithium, a key component of electric vehicle (EV) […]
ExxonMobil Completes Denbury Acquisition
(ExxonMobil, 2.Nov.2023) — Exxon Mobil Corporation (NYSE: XOM) has closed its acquisition of Denbury Inc. (NYSE: DEN) in an all-stock transaction valued at $4.9bn, or […]
Guyana Greenlights Oil Drilling in Waters Claimed by Venezuela
(AFP, 27.Oct.2023) — The new find, as well as some of the drilling concessions, are in a disputed area whose possible annexation Venezuela is putting to a […]
ExxonMobil Announces 3Q:23 Results [PDF Downloads]
(ExxonMobil, 27.Oct.2023) — Exxon Mobil Corporation announced third-quarter 2023 earnings of $9.1bn, or $2.25 per share assuming dilution. Cash flow from operations was $16bn, up […]
Big Oil: Upstream M&A Gets Serious
(WoodMac, 26.Oct.2023) — ExxonMobil’s and Chevron’s belief in the durability of upstream could hardly be better demonstrated by the game-changing acquisitions of two flagship US […]
Welligence Says Hess Gives Chevron Atlantic Margin Exposure
(Energy Analytics Institute, 23.Oct.2023) — US-based Chevron Corporation will acquire Hess Corporation for US$60bn (including net debt), the second giant transaction of Oct. 2023 following […]
ExxonMobil Purchase of Pioneer Creates World’s First Megamajor
(WoodMac, 12.Oct.2023) — Addressing ExxonMobil’s purchase of Pioneer Natural Resources, Tom Ellacott, senior vice president of Corporate Research for Wood Mackenzie said, “We predicted several […]
ExxonMobil Announces $59.5bn Merger with Pioneer in an All-Stock Deal
(ExxonMobil, 11.Oct.2023) — ExxonMobil Corporation (NYSE: XOM) and Pioneer Natural Resources (NYSE: PXD) jointly announced a definitive agreement for ExxonMobil to acquire Pioneer. The merger is […]
Head of Exxon’s Shale Business Faces Sexual Assault Charge in Texas
(Reuters, 8.Oct.2023) — The head of Exxon Mobil‘s shale oil and gas business, a unit involved in merger talks with rival Pioneer Natural Resources, was arrested at […]
EAI’s NRGBriefs: Sep. 2023
(Energy Analytics Institute, 30.Sep.2023) — Energy briefs as well as others related to finance and projects during Sep. 2023 including Petrobras saying that in regards […]
Exxon, Hess Exit Kaieteur Offshore Oil Exploration Block in Guyana
(Reuters, 28.Sep.2023) — U.S. oil producers Exxon Mobil (XOM.N) and Hess Corp (HES.N) have withdrawn from exploring the Kaieteur block in Guyana’s deepwaters, Exxon said on Thursday, after disappointing […]
Guyana Receives Bids for Eight Blocks, Including from Exxon, Total
(Reuters, 13.Sep.2023) — Guyana has received offers for eight of 14 offshore oil and gas blocks in a bidding round, including from consortiums of oil […]
EAI’s NRGBriefs: Aug. 2023
(Energy Analytics Institute, 31.Aug.2023) — Energy briefs as well as others related to finance and projects during August 2023 including Petrobras commenting on divestment process […]
Guyana’s Oil Boom Grabs Bigger Share of European Market
(Reuters, 23.Aug.2023) — Guyana has gained a larger share of Europe’s oil market this year, vessel monitoring data showed, driven by rising output by a […]
Exxon Proposes Sixth Oil Project in Guyana for $12.9 Billion
(Reuters, 21.Aug.2023) — Exxon Mobil Corp (XOM.N) and partners plan to spend $12.93 billion to develop their sixth offshore oil project in Guyana, according to a filing […]
Exxon Mobil Wants its Piece of Citgo
(USA Today, 17.Aug.2023) — The transnational Exxon Mobil, along with 19 other creditors, registered their claims against Venezuela before a court in the United States, […]
Guyana Not Interested in Joining OPEC, VP says
(Reuters, 26.Jun.2023) — Nascent oil producer Guyana is not interested in joining the Organization of the Petroleum Exporting Countries (OPEC), Guyanese Vice-President Bharrat Jagdeo said on Monday, […]
Guyana Postpones Offshore Auction to mid-August
(Reuters, 16.Jun.2023) — Guyana will postpone by about one month its first offshore oil blocks auction as the country finalizes new terms of the country’s oil and […]
Nucor Enters Into CCS Agreement with ExxonMobil
(Nucor, 1.Jun.2023) — Nucor Corporation (NYSE: NUE) signed an agreement with ExxonMobil to capture, transport, and store carbon from the company’s direct reduced iron (DRI) plant […]
MODEC’s Uaru FPSO Proceeds to EPCI Phase
(MODEC, 8.May.2023) — MODEC, Inc. will proceed with engineering, procurement, and construction on the Uaru Floating Production, Storage, and Offloading (FPSO) vessel following a final investment decision […]
SBM Offshore Inks Deal for its Guyana FPSO Fleet
(SBM, 2.May.2023) — SBM Offshore has signed a 10-year Operations and Maintenance Enabling Agreement with Esso Exploration & Production Guyana Ltd (aka “ExxonMobil Guyana”) for […]
Exxon Mobil not Quitting Exploration in Brazil
(Reuters, 1.May.2023) — Exxon Mobil Corp (XOM.N) is not giving up on oil exploration in Brazil, the company’s country chief Alberto Ferrin said on Monday during the […]
ExxonMobil Advances Fifth Offshore Guyana Development
(ExxonMobil, 27.Apr.2023) — ExxonMobil made a final investment decision for the Uaru development offshore Guyana after receiving required government and regulatory approvals. The company expects […]
Sintana Updates on VMM-37 Joint Contract with ExxonMobil
(Sintana Energy, 18.Apr.2023) — Sintana Energy Inc. (TSXV: SEI OTCQB: SEUSF) reports that ExxonMobil sent Patriot Energy Oil and Gas Inc., a subsidiary of the […]
Majors Capex Guidance Update
(Energy Analytics Institute, 23.Feb.2023) — “Despite bumper profits, the peer group is guiding towards $118bn in total investment in 2023, up just 4% on last […]
Mexico Pacific to Sell LNG from Sonora Export Plant to Exxon Mobil
(Reuters, 7.Feb.2023) — Mexico Pacific said that a unit of Exxon Mobil Corp had agreed to buy liquefied natural gas from the Mexican company’s proposed […]
EAI’s NRGBriefs: Jan. 2023
(Energy Analytics Institute, 31.Jan.2023) — Energy briefs as well as others related to finance and politics during January 2023 including Trinidad and Tobago Prime Minister […]
ExxonMobil Awards FEED for World’s Largest Low-carbon Hydrogen Facility
(ExxonMobil, 30.Jan.2023) — ExxonMobil announced the next step in the development of the world’s largest low-carbon hydrogen production facility with a contract award for front-end […]