US oil major ExxonMobil is looking to significantly reduce spending as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases, the company said Monday.
“Based on this unprecedented environment, we are evaluating all appropriate steps to...
CEO of Hess Corporation John Hess said the fallout from the current oil price war between Russia and Saudi Arabia could lead to a worldwide economic recession and a reduction of US oil production in 2021.
Hess was on March...
UK-based Tullow Oil has confirmed that it will drill the Goliathberg-Voltzberg North prospect at Suriname’s Block 47 this year. The prospect lies approximately 260 kilometres off the coast of the country in 1,900 metres of water and is one of...
ExxonMobil’s 4th proposed development project offshore the South American country of Guyana will produce approximately 150,000 - 190,000 barrels of oil per day (bpd), pushing total production at the Stabroek block to 750,000 bpd. This latest development, once approved,...
US oil major ExxonMobil said Thursday it continues to make progress on its long-term growth plans by investing through the commodity price cycle to capture high-value opportunities and grow earnings and cash flow potential.
“We are effectively executing our growth strategy...
South America is home to several regions of offshore expansion, with few basins currently displaying more growth potential than the Guyana Suriname Basin. Exploration in this area continues to impress and the list of oil and gas participants is...
South America’s newest oil producer Guyana is on track to ramp up production to more than 750,000 bpd by 2025 from multiple developments at massive oil fields located off the country’s coast at the 6.6 million acres Stabroek Block.
Speaking...
They say it is the mother of all elections. The contest, mainly between two factions who at their core have been in battle for the better part of half a century, will come to a climax when Guyanese cast...
Caribbean petroleum producer Trinidad and Tobago is facing an unprecedented economic crisis fueled by a downturn in LNG and oil prices which former energy minister Kevin Ramnarine says only careful planning and a reality check can avert.
“Folks we are...
At election time, it is easy to tell which ethnic group dominates each of the villages strung out along Guyana’s Atlantic coast even without looking at the people. Where Afro-Guyanese are the main group, the green-and-yellow banners of the...
