News

(S&P Global) Crude futures settled higher Friday after the US Energy Information Administration reported a large draw in US crude oil inventories. An uptick in refinery demand weighed on US crude oil inventories last week, extending their decline for a...

With an API of 32.1 degrees and sulfur content of 0.510 percent, the crude now being produced at the Liza Phase 1 Development offshore Guyana could see interest from buyers on the US Gulf Coast and those in locations...

(S&P Global) Brazilian crude and natural gas production soared to a fresh record high in November as oil output topped 3 million b/d for the first time ever in Latin America's largest producer, the country's National Petroleum Agency, or...

(France 24) In a Canadian oil industry town, schoolchildren singing about Santa's sleigh going electric and images of Rudolph the reindeer with a fluorescent bulb for a nose has provoked a backlash. Parents who work in Canada's struggling oil sector...

Following a series of meetings with bidders—including ExxonMobil, Hess, CNOOC, and Total among other big operators in the oil industry—for Guyana’s first three lifts of crude entitlement, Shell Western Supply and Trading Limited has emerged as the buyer. Guyana’s first...

Nearly 50 years ago, ExxonMobil pioneered a technology called 3-D seismic imaging, which uses sound waves to form three-dimensional images of geologic formations. These images have become the industry standard for understanding subsurface geology and finding oil and gas...

French oil company Total (TOTF.PA) said on Monday that it would pay a bonus of $100 million as part of its previously announced deal with U.S. peer Apache (APA.N) to develop a block off Suriname. “Total is pleased with this...

ExxonMobil said today it made an oil discovery offshore Guyana at the Mako-1 well southeast of the Liza field, marking the 15th discovery on the Stabroek Block. The discovery adds to the previously announced estimated recoverable resource of more...

ExxonMobil says it plans to slowly ramp-up oil production in the coming months at its first development offshore the South American country of Guyana where daily output at peak is expected to hit 120,000 barrels per day. The company announced...

Dutch floater specialist SBM Offshore said on Monday it stands ready to play a key role in making a contribution towards the South American country of Guyana becoming a significant oil producer as it generates value for ExxonMobil in...