US oil major ExxonMobil is pulling out all stops on its Guyana development in what industry analyst Wood Mackenzie says is a ramp-up faster than anything ever achieved in the industry with potential to exceed 1 million barrels per...
As the South American country of Guyana prepares to join the league of petroleum producing nations, American multinational investment bank, Goldman Sachs, says an oil shortage is coming over the next decade because firms cannot fully invest in future...
Head of Guyana’s Department of Energy (DOE) Dr Mark Bynoe says there is no need to delay the Liza Phase 2 development pending an audit of contract costs for Liza Phase 1.
Over the last week, Dr Jan Mangal, former...
(Oil Price) If the U.S. expands sanctions on Venezuela to include the oil industry and restricts U.S. exports of oil products that are crucial for diluting Venezuela’s extra-heavy oil, oil production in the country sitting on the world’s largest...
A U.S. District Court judge has blocked the Interior Department from suspending an Obama-era rule meant to prevent planet-warming methane from escaping during oil and natural gas operations.
According to a CNBC report, the ruling marks the latest setback for...
(Reuters) - The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday.
The Paris-based IEA raised its forecast for oil demand growth in...
BP on Monday announced the start of gas production from the Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East Nile Delta, was delivered seven months ahead of schedule and 33% below...
Exxon Mobil Corporation has added 2.7 Bboe of proved oil and gas reserves in 2017, replacing 183% of production. ExxonMobil's proved reserves totaled 21.2 Bboe at year-end 2017. Liquids represented 57% of the reserves, up from 53% in 2016....
(Hart Energy) A funk has settled over the Alberta oil industry as low prices, pipeline system constraints, storage shortfalls, and limited rail shipping have combined in a perfect storm that is costing producers millions of dollars every day.
While the...
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 Basin in West Texas and New Mexico. Tight oil production from the Delaware and Midland...
