(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 the process of divestment of the LUBNOR refinery that it continues to strictly comply w/ the purchase and sale agreement; SilverCrest Metals Inc. filing an […]
Tag: Hess
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(Reuters, 28.Sep.2023) — U.S. oil producers Exxon Mobil (XOM.N) and Hess Corp (HES.N) have withdrawn from exploring the Kaieteur block in Guyana’s deepwaters, Exxon said on Thursday, after disappointing exploration results. The exit comes as the producers focus on their larger and highly productive Stabroek block, where more than 11 billion barrels of oil […]
Hess Announces Collector’s Edition Ocean Explorer, Now On Sale
(Hess, 15.Sep.2023) — Hess Corporation announced that the special limited Collector’s Edition Ocean Explorer toy, commemorating Hess Corporation’s 90th anniversary, is now on sale exclusively at HessToyTruck.com for $59.99 with free standard shipping and Energizer® batteries included. This highly limited edition is the third in the Collector’s Series and salutes Hess’ proud history — from the […]
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 majors like Exxon Mobil, Hess Corp and TotalEnergies, the government and documents seen by Reuters showed on Wednesday. The Ministry of Natural Resources confirmed that […]
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 consortium led by Exxon Mobil (XOM.N) and strong demand for light sweet crude grades amid a reshuffling of global oil flows. Western sanctions on Russian oil due to […]
TotalEnergies Named Most-admired Explorer in WoodMac Survey
(WoodMac, 27.Jun.2023) — French major TotalEnergies has been named the upstream industry’s most-admired explorer and received the Discovery of the Year award in Wood Mackenzie’s industry-leading annual Exploration Survey. Dr. Andrew Latham, Senior Vice President, Energy Research, at Wood Mackenzie, said “For the third time in our industry-leading survey, TotalEnergies […]
TotalEnergies Named Most-admired Explorer by WoodMac
(WoodMac, 27.Jun.2023) — French major TotalEnergies has been named the upstream industry’s most-admired explorer and received the Discovery of the Year award in Wood Mackenzie’s industry-leading annual Exploration Survey. Dr. Andrew Latham, Senior Vice President, Energy Research, at Wood Mackenzie, said “For the third time in our industry-leading survey, TotalEnergies has received […]
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, as the South American country looks to rapidly boost production and attract new operators. Guyana – which has become one of fastest growing crude-oil producers […]
Energy Analytics Institute’s NRGBriefs: December 2022
(Energy Analytics Institute, 31.Dec.2022) — Energy briefs as well as others related to finance and politics during December 2022 including Washington’s easing of sanctions on Venezuela resulting in increased US imports of that heavy/sour crude; twin-island country Trinidad and Tobago eying its annual energy conference in Port of Spain; Savannah […]
Hess Reports Estimated 3Q:22 Results
(Hess, 26.Oct.2022) — Hess Corporation (NYSE: HES) reported net income of $515mn, or $1.67 per common share, in the third quarter of 2022, compared with net income of $115mn, or $0.37 per common share, in the third quarter of 2021. On an adjusted basis, the corporation had net income of […]
Llano-6 Well, Gulf of Mexico, Achieves First Production
(Hess, 13.Sep.2022) — The Llano-6 well in the Gulf of Mexico delivered first production on 4 Augustm 2022. The well is a tieback to Shell’s Auger facility. This latest achievement builds upon Hess’ Gulf of Mexico (GoM) business, which is planning increased activity based on the success of the well, […]
Gas-to-energy project supports Guyana’s use of its natural resources
HOUSTON, TEXAS (By Hess, 3.Aug.2022, Words: 446) — Hess, ExxonMobil and CNOOC – co-venture partners on the Stabroek Block – recently finalized an agreement with the Government of Guyana for a Gas to Energy project. The project will enable Guyana to shift from the imported heavy fuel oil currently used […]
New Oil Power Guyana to Surpass US Offshore by 2035
(Forbes, 28.Jul.2022) — As the Biden administration focuses on its efforts to end new leasing and drilling for oil and gas in the Gulf of Mexico and other U.S. offshore provinces, investment continues to pour into projects offshore the tiny South American nation of Guyana. A new study by energy intelligence group […]
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 […]
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NRGBriefs: Hess’ Sustainability Report; Frontera Earnings [PDF Download]
(Energy Analytics Institute, 25.Jul.2022) — Energy briefs including Hess Corporation (NYSE: HES) announcing publication of its annual sustainability report; and Frontera Energy Corporation (TSX: FEC) revealing that its 2Q:22 results will be released after markets close on Tuesday 9 August 2022. NORTH AMERICA US — Hess Corporation (NYSE: HES) announced publication of […]
Guyana Announces National Healthcare Initiative
(Hess, 11.Jul.2022) — His Excellency Dr Irfaan Ali announced a national healthcare initiative in collaboration with the Mount Sinai Health System, an internationally recognized healthcare provider, and Hess Corporation to improve the quality of and access to healthcare for the people of Guyana. Working with the Government of Guyana, the […]
Liza Unity Receives ABS’ SUSTAIN-1 Notation
(Piero Stewart, Energy Analytics Institute, 22.Jun.2022) — The Liza Unity floating production storage and offloading vessel, where oil can be processed, stored and transferred to tankers, is the first in the world to receive a SUSTAIN-1 notation by the American Bureau of Shipping (ABS) for its sustainable design and operation […]
Guyana Aims to Avoid Oil Curse by Spending on Health and Education
(FT.com, 2.May.2022) —The president of Guyana, the world’s fastest-growing economy, is inviting investors to back his ambitious vision to transform the small South American country into a regional health, education and transport hub with the help of burgeoning oil wealth. “We’re investing tremendously in healthcare. and we’re investing heavily in […]
Hess’ Exploration Focus: A World Class Petroleum Province Offshore Guyana
(Hess, 26.Apr.2022) — The Stabroek Block, located approximately 120 miles offshore Guyana, is 6.6 million acres. The block is equivalent in size to 1,150 Gulf of Mexico blocks and contains multiple prospects and play types representing additional multibillion barrel unrisked exploration potential. Hess has a 30 percent interest; ExxonMobil is […]
ExxonMobil increases Stabroek resource estimate to nearly 11 billion barrels
(Exxon, 26.Apr.2022) — ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels. The three discoveries are southeast of the Liza and Payara developments and bring to five the discoveries made by ExxonMobil in […]
NRGBriefs: Exxon, Hess, and CNOOC FID Yellowtail development
HOUSTON, TEXAS (Editors at Energy Analytics Institute, 4.Apr.2022) — Energy briefs including ExxonMobil, Hess and CNOOC taking a final investment decision (FID) for their fourth development offshore Guyana called Yellowtail, cos.’ biggest yet w/ gross production capacity of 250,000 b/d starting in 2025; and the King Abdullah Petroleum Studies and […]
Hess sanctions Yellowtail development offshore Guyana
HOUSTON, TEXAS (Hess, 4.Apr.2022) — Hess Corporation has made a final investment decision to proceed with development of Yellowtail offshore Guyana after receiving government and regulatory approvals. Yellowtail, the fourth oil development and the largest on the Stabroek Block, is expected to produce approximately 250,000 gross barrels of oil per […]
Hess Recognized for Diversity, Equity and Inclusion
(Hess, 1.Feb.2022) — Hess Corporation (NYSE: HES) achieved a top score of 100% on the Human Rights Campaign’s (HRC) Corporate Equality Index for 2022 and earned the designation as one of the Best Places to Work for LGBTQ+ Equality. For the third consecutive year, Hess also has earned a place on the Bloomberg Gender-Equality […]
NRGBriefs: Presidential Elections in Brazil and Colombia
(Energy Analytics Institute, 4.Jan.2022) — Energy briefs including presidential elections in Brazil and Colombia this yr could see showdowns between Lula da Silva and Jair Bolsonaro as well as Gustavo Petro and a new candidate perhaps from Iván Duque Márquez’s party respectively; Mexico’s President Andres Manuel Lopez Obrador presenting the country’s […]
NRGBriefs: Hess Says Liza Phase 2 On Track
(Energy Analytics Institute, 28.Oct.2021) — Energy briefs including Hess Corp. confirming that production from its Liza Phase 2 development in Guyana is on track to startup in early 2022; Avino Silver & Gold Mines Ltd. entering into a share purchase agreement to indirectly acquire through the purchase of the shares […]
NRGBriefs: Liza Unity FPSO Reaches Guyana
(Energy Analytics Institute, 27.Oct.2021) — Energy briefs including the Liza Unity FPSO reaching Guyana’s prolific Stabroek Block; liquefied petroleum gas (LPG) reaching approximately 12mn users across Colombia; and more. LATIN AMERICA AND THE CARIBBEAN Brazil –Brazil’s ANP published the complete version of the Brazilian Statistical Yearbook of Petroleum, Natural Gas […]
MSCI Upgrades Hess To AAA In ESG Rating Assessment
(Hess, 11.Oct.2021) — Hess Corporation (NYSE: HES) received a AAA rating in the MSCI environmental, social and governance (ESG) ratings for 2021 after earning AA ratings from MSCI ESG for 10 consecutive years. The AAA rating designates Hess as a leader in managing industry specific ESG risks relative to peers. […]
LatAm Briefs: Train 1 Mothballing, CVP Appointments
(Energy Analytics Institute, 28.Jul.2021) — Energy briefs from the Latin America and Caribbean region including: rising Brazilian imports of US LNG, Ecopetrol’s electric vehicles fleet, Hess reports 2Q:21 results, Trinidad ponders mothballing Atlantic LNG’s Train 1, new appointments at CVP in Venezuela, and more. Brazil — Brazil’s imports of US […]
The SEOGS2021: Day 1 Brief
(Energy Advance, 1.Jun.2021) — The first day at SEOGS 2021 saw an incredible 454 unique viewers tuning in from over 170 different companies to hear from the President, government of Suriname and the NOC and event host Staatsolie. Major IOC’s, NOC’s and independents spoke about their current and future plans […]
LatAm Briefs: Ofac Venezuela, SEOGS2021 Kicks Off, Net Zero Summit
(Energy Analytics Institute, 1.Jun.2021) — Energy briefs from the Latin America and Caribbean region including: Ofac extending Chevron’s operating license in Venezuela; Microsoft founder, Bill Gates, participating in the Innovating To Net Zero Summit; and the kick off of the Suriname Energy, Oil and Gas Summit (SEOGS2021). Ofac Extends Chevron’s […]
Hess Corp. Reports 1Q:21 Results
(Hess 28.Apr.2021) — Hess reported net income of $252mn, or $0.82 per common share, in the first quarter of 2021, compared with a net loss of $2,433mn, or $8.00 per common share, in the first quarter of 2020 that included impairment and other after-tax charges of $2,251mn. On an adjusted […]
Guyana Should Consider Oil Hedge Now
(Stabroek News, 26.Apr.2021) — December 20th marked the one-year anniversary of oil being lifted from Guyana’s ocean floor. Who has benefitted the most from our oil? Is it the people of Guyana or the oil companies? What follows is a letter to the editor about Guyana and consideration of implementing […]
Hess Updates On Ops In The US, Guyana And Malaysia
(Hess, 27.Jan.2021) — Hess Corporation provided operational highlights from the fourth quarter of 2020 and its operations in the US Bakken, the US Gulf of Mexico, offshore Guyana and Malaysia. Bakken (Onshore U.S.): Net production from the Bakken increased to 189,000 boepd from 174,000 boepd in the prior-year quarter. Net […]
Hess Reports 4Q:20 Net Loss
(Hess, 27.Jan.2021) — Hess Corporation reported a net loss of $97mn, or $0.32 per common share, in the fourth quarter of 2020, compared with a net loss of $222mn, or $0.73 per common share, in the fourth quarter of 2019. On an adjusted basis, the corporation reported a net loss […]
Hess Announces 2021 E&P CAPEX Of $1.9bn
(Hess, 25.Jan.2021) — Hess today announced a 2021 Exploration & Production capital and exploratory budget of $1.9bn, of which more than 80% will be allocated to Guyana and the Bakken. Net production is forecast to average approximately 310,000 barrels of oil equivalent per day in 2021, excluding Libya. Bakken net […]
Hess Reveals 4Q:20 Earnings Conference Call Date
(Hess, 8.Jan.2021) — Hess will hold a conference call on Wednesday 27 January 2021 at 10 a.m. Eastern Time to discuss its fourth quarter 2020 earnings release. To phone into the conference call, parties in the United States should dial 877-693-6685 and enter the pass code 3282638 after 9:45 a.m. […]
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 […]
Hess Reports 3Q:20 Results, Ups Guyana Resources
(Hess, 28.Oct.2020) — Hess Corporation reported a net loss of $243 million, or $0.80 per common share, in the third quarter of 2020, compared with a net loss of $212 million, or $0.70 per common share, in the third quarter of 2019. On an adjusted basis, the Corporation reported a […]
BHP Buys Additional 28% Interest In Shenzi From Hess
(BHP, 6.Oct.2020) — BHP signed a Membership Interest Purchase and Sale Agreement with Hess Corporation (Hess) to acquire an additional 28% working interest in Shenzi, a six-lease development in the deepwater Gulf of Mexico. Shenzi is structured as a joint ownership: BHP (Operator, 44% interest); Hess (28% interest) and Repsol […]
Hess To Divest Interests In Shenzi Field, Gulf of Mexico
(Hess, 5.Oct.2020) — Hess entered into an agreement to sell its 28% working interest in the Shenzi Field in the deepwater Gulf of Mexico to BHP Billiton, the field’s operator, for a total consideration of $505mn, subject to customary adjustments, with an effective date of 1 July 2020. The field […]
Hess Sanctions Payara Development
(Hess, 30.Sep.2020) — Hess made a final investment decision to proceed with development of the Payara Field offshore Guyana after the development plan received approval from the government of Guyana. Payara is the third oil development on the Stabroek Block; gross production capacity from the three developments is expected to […]
Hess To Participate In Barclays CEO Conference
(Hess Corp., 4.Sep.2020 — Hess announced that John Hess, Chief Executive Officer, will present at the Barclays CEO Energy-Power Conference in New York on 9 September 2020 at 8:25 a.m. ET. A live audio webcast and a replay of the presentation will be accessible via Hess Corporation’s website. Hess Corporation […]
Stena Inks Deal For Tullow Suriname Well
(Energy Analytics Institute, 1.Sep.2020) — Stena Drilling inked a new contract with Tullow Suriname BV for the Stena Forth drillship to drill one well offshore Suriname in Block-47. Block 47 forms part of the Guyana-Suriname Basin and is located approximately 260 kilometers north of the Suriname coast. The Stena Forth […]
Can Guyana Salvage Its Much-Hyped Oil Boom?
(Oilprice.com, 25.Aug.2020) — The deeply impoverished South American country of Guyana in recent years was heralded as the hottest new oil boom in the Americas. A series of large offshore oil discoveries by integrated global energy major ExxonMobil catapulted Guyana into the spotlight. Earlier this year Exxon made its 16th […]
ExxonMobil Holding Out For Approval Of Payara Project
(Stabroek News, 13.Aug.2020) — On the heels of President Irfaan Ali’s announcement on Tuesday that the Payara project approval will have to wait on an international oil expert’s assessment and advice, ExxonMobil last night said that delays will reduce the value of the project and that more than a year […]
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 […]
World’s Newest Oil Boom Is Facing A Major Problem
(Oilprice.com, 22.Jul.2020) — After a series of major offshore oil discoveries since 2015, with the largest ever made earlier this year, the tiny South American country of Guyana has become a hotspot for international oil majors. The deeply impoverished former British colony’s oil potential is being compared to nearby Brazil […]
Guyana Awaits New Oil Authorities
(Argus, 9.Jul.2020) — Changes are coming to the management and policy of Guyana’s fledgling oil sector, after a regional court cleared the way for declaring a victory for the opposition in a 2 March parliamentary election. In a pending declaration by the elections commission (Gecom), the People’s Progress Party (PPP) […]
The Oil Nation Aiming To Emulate Guyana’s Success
(Oilprice.com, 20.Jun.2020) — Paths to economic development might vary, ranging all the way from ruthless dictatorships hewing their way with an iron fist to established democracies laboring towards the well-being of its constituents. In terms of swift decision-making and efficiency, 20th century empirical data would rather tilt towards dictatorships with […]
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 […]