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ExxonMobil, Guyana officials stress ‘sanctity of contract’ at O&G seminar

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As questions continue to be raised about the prospect of a ‘renegotiation’ of the Production Sharing Agreement (PSA) between Guyana and ExxonMobil, officials from both the Guyanese government and the oil company are adamant that the contract is valid...
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ExxonMobil exits Russian ventures, continues success off Guyana

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(JPT) A busy week for ExxonMobil marked a continued company-wide transition for the world’s largest public oil and gas firm, headlined by its withdrawal from once-promising Russian joint ventures and its announcement of a seventh oil discovery off Guyana. According...
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Eco Atlantic now recognized as TSX Venture 50 Company

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In wake of its announcement of a potential 1 billion plus barrels of oil at its Orinduik Block offshore Guyana, Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG), said Friday that it has been recognized as a 2018...
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ExxonMobil, BHP withdraw Bass Strait oil assets from sale in major turnaround

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(ABC) BHP and ExxonMobil are holding on to their ageing oil platforms in Bass Strait, off the Victorian coast, just 20 months after putting them on the market. The fields that make up the oil block include Australia's oldest and...
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Aker Energy buys Hess Ghana business, expects first oil in 2021

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Norwegian billionaire Kjell Inge Roekke’s Aker Energy plans “significant” oil exploration and production in Ghana after a $100 million deal to buy Hess Corporation’s (HES.N) business there. Hess holds a 30 percent interest in the Stabroek Block offshore Guyana. Reuters reports...
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Noble Energy profit beats estimates on cost cuts, rising oil prices

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(Reuters) - U.S. oil and gas producer Noble Energy Inc (NBL.N) reported adjusted quarterly profit on Tuesday that easily beat analyst estimates due to cost cuts and higher crude prices, sending shares surging more than 7 percent in morning...
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CGX contract outlines 53% profit oil, 1% royalty for Guyana

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The petroleum agreement between the Government of Guyana and Canadian-based CGX Resources Inc. (CGX Energy) stipulates 53 percent profit oil and 1 percent royalty for the South American country in the event the company makes a discovery and moves...
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Standoff in high seas as Cyprus says Turkey blocks Saipem 12000 drill ship

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(Reuters) - Cyprus on Sunday accused the Turkish military of obstructing a ship contracted by Italian oil company Eni from approaching an area to explore for natural gas, highlighting tensions over offshore resources in the east Mediterranean. A spokesman for...
News

First shipment of pipes for oil production arrives in Guyana

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The first shipment of piping material to be used for oil production in the Liza development project offshore Guyana arrived on Wednesday evening at a shore base facility in the South American Country. This represents a major step towards the use...
News

ExxonMobil adds 2.7 Bbbl to reserves, replaces 183% of 2017 production

OilNOW -
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....
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TT Energy Chamber flags long-term decline despite short-term gains in oil production

The Energy Chamber of Trinidad and Tobago is urging serious reform in the country's energy sector following the release...

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