Featured

ExxonMobil Guyana announced plans to establish enabling agreements for the provision and operation of platform supply vessels (PSV) and fast supply vessels (FSV) in Guyana waters. The company’s Request for Information (RFI) indicates the vessels need to be delivered by...

China’s CNOOC reported a total net production of 180.1 million barrels of oil equivalent (boe) in the first quarter of 2024. It said the year-on-year (YoY) increase of 9.9% was driven by output in China, Canada and Guyana.  Its net...

ExxonMobil’s Chief Executive Officer (CEO) and Chairman of the Board, Darren Woods, hailed Guyana’s oil story as one that will be well remembered in the history of the oil and gas sector. “I believe Guyana will go down as...

Hess Corporation requested that an arbitration tribunal hear the merits of its dispute with ExxonMobil and CNOOC in the third quarter, with a view of having an outcome in the fourth quarter. This was reported by Mike Wirth, Chief...

Hess Corporation said exploration activities are planned this year for two Suriname blocks in which it holds stakes - Block 42 and Block 59. The note is part of the company’s annual report filed with the U.S. Securities and Exchange...

Growing oil production offshore Guyana is taking even more prominence in the portfolios of the Stabroek Block co-venturers, with Hess’ net Guyana production now being on par with output at its traditionally leading Bakken Shale operations in North Dakota. The...

In a climate of escalating offshore rig dayrates, energy companies are increasingly considering ownership as a strategy to control costs and ensure availability, according to insights from Westwood Global Energy Group.  As of December 31, 2023, the cost to rent...

Hess Corporation reported a net income of US$972 million or US$3.16 per share for the first quarter of 2024, in its April 25 earnings report. This represents a 180% increase over the net income of US$346 million or US$1.13...

Saipem, the Italian energy industry contractor, disclosed a positive net result of 57 million euros for the first quarter of 2024, a turnaround from the breakeven recorded in the corresponding period of 2023.  The announcement came following the approval of...

Halliburton, the multinational oilfield services company, disclosed its financial performance for the first quarter of 2024, reporting a net income of US$606 million, equivalent to US$0.68 per diluted share.  This represented a decrease from the first quarter of 2023 when...