Production

ExxonMobil expects to invest over US$20 billion annually to help meet the world’s growing energy needs through 2027. That's more than US$100 billion in the next five years. This will amount somewhere between US$21 billion and US$24 billion this...

The fallout from Russia's invasion of Ukraine has resulted in a spike in oil prices. Now, the Orinduik Block partners - Eco Atlantic, Tullow Oil, TotalEnergies and Qatar Energy - plan to revisit the commercialisation potential of the Jethro...

ExxonMobil generated earnings of $17.9 billion and cash flow from operating activities of $20 billion in the second-quarter 2022 as a result of increased production, higher realizations and margins, and aggressive cost control. The company said on Friday it increased...

The Payara project, ExxonMobil’s third development in Guyana’s offshore Stabroek Block is 80% complete, according to President and Chief Operating Officer of Hess Corporation, Greg Hill. Topside fabrication/installation is currently being undertaken aboard the Prosperity floating production, storage and offloading...

TotalEnergies said Monday it started production at the Ikike field, 20 kilometers (km) off the coast of Nigeria. The Ikiken platform meets a depth of about 20 meters and is tied back to the existing Amenam offshore facilities through...

With the energy transition in full swing, emphasis is being placed on making the global upstream industry more sustainable. To do this, the focus has to be on abundant oil and gas resources in locations with access to low-cost...

(S&P Global Platts) Fresh demand from South Korea could keep the market sentiment for October-delivery barrels of Brazilian crudes buoyed, even as the grades' cash differentials could face some headwinds as China-based end-users pivot toward competitive Russian crudes, trade...

Staatsolie, Suriname’s state oil company, says there is real potential for cooperation between Guyana and Suriname, particularly with gas resource development. “Large resources and associated and non-associated gas have been discovered and both countries could benefit from jointly developing resources...

Senior Finance Minister Dr Ashni Singh announced that Government has made its second draw down from the Natural Resource Fund in accordance with the Natural Resource Fund (NRF) Act 2021. The Minister indicated that pursuant to Section 16 of the...

Suriname’s Block 58 has churned out five discoveries in total, but operator TotalEnergies E&P Suriname B.V. is yet to make a Final Investment Decision (FID). Government officials expressed hope during the recently held Suriname Energy, Oil and Gas Conference (SEOGS) that this...