Sunday, February 5, 2023

Regional

Eco nears completion of survey on Orinduik Block

Eco (Atlantic) Oil & Gas Ltd. says it is wrapping up a 2,550 km2 3D seismic survey on the 1,800km2 Orinduik Block offshore Guyana, together with its Operating Partner, Tullow Oil plc. The oil junior had announced the commencement of the survey...

Statoil, YPF to explore shale oil, gas in Argentina

(Reuters) - Norway's Statoil has signed a deal with Argentina's leading energy company YPF to jointly explore for onshore shale oil and gas resources in the Vaca Muerta formation, the company said on Friday. Statoil and YPF will each hold...

Gas prices rise in US as Hurricane Harvey catches oil companies by surprise

(NBC) Oil and gas companies scrambled Thursday to prepare for Hurricane Harvey, which developed so quickly in the Gulf of Mexico that many of them didn't have time to respond. Royal Dutch Shell shut down and evacuated its 22-well Perdido...

Gulf of Mexico operators shut production; evacuate workers ahead of storm Harvey

(Offshore Energy) U.S. Gulf of Mexico oil operators Anadarko and Shell have evacuated workers and shut production from some of its platforms ahead of the tropical depression Harvey. Worth noting, Harvey could become the first hurricane to hit the...

Mining giant BHP to sell US shale assets

(BBC) Mining giant BHP Billiton will sell its US shale assets after pressure from shareholders to offload the underperforming business. The miner said a number of parties are interested in the assets and it is "actively pursuing options to exit". Shareholder...

Maersk agrees to sell oil unit to Total in $7.45 bln deal

(Reuters) Total is buying Maersk Oil in a $7.45 billion deal which the French oil major said would boost its earnings and cash flow, and bolster its dividend prospects. Danish company A.P. Moller-Maersk is selling its Maersk Oil division to Total to focus...

U.S. oil drillers keep pressure on OPEC with record shale output

(Bloomberg) Oil output from major U.S. shale plays is poised to reach a fresh record next month, further complicating OPEC’s efforts to support prices. The gain is being led by the oil-rich Permian basin of Texas and New Mexico, where production...

Gas starts flowing from BP’s new fields offshore Trinidad and Australia

(Reuters) - BP has started producing gas from two new projects offshore Trinidad and Tobago and Australia; the company said on Monday, further boosting output that is helping the company to turn a corner after a bruising market downturn. Gas...

Major oil companies begin pulling workers out of Venezuela

(Bloomberg) Repsol SA pulled all foreign workers from its oil fields in Venezuela amid a deepening political crisis, while Chevron Corp. and Total SA have removed a small number of employees, said people with knowledge of the companies. Norway’s...

Kosmos tightens loss, triples oil revenues

(Offshore Energy Today) U.S. oil company Kosmos Energy tightened its net loss and tripled oil revenues during the second quarter 2017. The company has decided to once again reduce its capex for the year by $50 million. According to its...

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Exxon made US$56 billion last year. So, what?

ExxonMobil made a US$55.7 billion profit in 2022. That is a huge number. So, when Guyanese media outlets report...