News

Demand destruction wrought by the impacts of the global pandemic is precipitating rapid rationalization in the refining sector as the industry adjusts the level of refining capacity needed compared to what had been expected prior to the pandemic, IHS...

The first exploration well at the Canje block offshore Guyana will be drilled by the end of the year, ExxonMobil has confirmed. The well - Bulletwood-1- has been described by analysts as a ‘Liza look alike’ with a target...

Rare positive news amid the coronavirus pandemic pushed crude oil flat prices, including the flat price Dated Brent benchmark, sharply higher on Monday, although physical differentials remained stuck in negative territory for some BFOET grades, S&P Global said in...

(Reuters) - Oil prices climbed on Wednesday as hopes of an effective COVID-19 vaccine continued to bolster sentiment and an industry report showed U.S. crude inventories fell more than expected. Brent crude rose $1.17, or 2.7%, to $44.78 a barrel at...

(S&P Global Platts) Oil prices may climb to $50/b in six months and crude stocks fall to "normal" in the 2021 third quarter if the OPEC+ coalition delays plans to add crude to the market and the demand outlook...

Tullow Oil announced on Tuesday that the sale of its assets in Uganda to Total has completed with $500 million consideration received. Tullow is also due to receive a further $75 million when a Final Investment Decision is taken...

Safety continues to be a top priority in the exploration and production activities offshore Guyana where ExxonMobil is operator at the prolific 6.6 million acres Stabroek Block. The Liza Destiny FPSO, built and operated by SBM Offshore, arrived in...

ExxonMobil will be embarking on an assessment of the Liza Phase 1 Development reservoir results at the prolific Stabroek Block, where the Liza Destiny FPSO is currently producing oil offshore Guyana. The Noble Bob Douglas is currently drilling the...

Saipem said on Monday it has received authorization to proceed with the final phase of the Payara development project in Guyana from ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL). This authorization allows for the finalization of the...

Apache Corporation remains highly enthusiastic about prospects offshore Suriname and the discoveries it has made to date at Block 58, labelling the last target where it hit pay – Kwaskwasi-1 – as the ‘best well’ encountered so far. Kwaskwasi-1, announced...