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Monthly Archives: January 2018

BP announces two North Sea discoveries

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Energy giant BP has announced two new North Sea oil and gas discoveries. Tests have been carried out to discover how much oil and gas...

2018 E&P Budget: Hess allocates hundreds of millions for exploration, development in Stabroek Block;...

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Hess Corporation (NYSE:HES) today announced its 2018 E&P capital and exploratory budget will be $2.1 billion, the same as 2017. The 2018 budget allocates increased capital...

Oil could struggle to top $70 as U.S. output offsets OPEC cuts: Reuters poll

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(Reuters) - Oil prices are unlikely to advance much higher than $70 a barrel in 2018, with the market caught between the opposing forces...

President Granger welcomes UN decision on border controversy with Venezuela

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Guyana’s Head of State, President David Granger has hailed the decision to refer the controversy arising out of the claim by the Bolivarian Republic...

This oil major has a supercomputer the size of a soccer field

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Big Oil is now Big Tech. So big, in fact, that Eni SpA’s new supercomputer is the size of a soccer field. In the multi-million dollar...

Border controversy between South American oil neighbours headed for ICJ

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A bitter border controversy between oil giant Venezuela and its eastern neighbour, Guyana, has been referred to the International Court of Justice (ICJ) by...

ExxonMobil to ramp up Permian production to 600,000 barrels

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ExxonMobil today announced that it plans to triple total daily production to more than 600,000 oil-equivalent barrels by 2025 from its operations in the Permian...

The death spiral of Venezuela’s oil sector and what can be done about it

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(Forbes) The Venezuelan oil sector is on a death spiral despite having one of the largest resource endowments in the world. According to its report...

Brazil’s Petrobras promises dividend as soon as it returns to profit

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(CNBC) The semi-public company Petrobras has promised to start paying dividends to shareholders again, as soon as it returns to profit after being hit...

Guyana could be producing over 10 million barrels of oil monthly by 2022

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Monthly oil production in the South American country of Guyana could top the 10 million barrel mark by 2022 with the coming on stream...