CNOOC Limited achieved total net production of 120.1 million barrels of oil equivalent for the first quarter of 2018, representing an increase of 0.8% year over year. According to a statement from the company, production from offshore China decreased...
Eighteen bidders took part in China National Offshore Oil Corp’s (CNOOC) liquefied natural gas (LNG) auction on the Shanghai Petroleum and Gas Exchange on Wednesday, an official at the state-controlled oil company involved in the sale said.
The 90,000 tonnes...
ExxonMobil’s 7th oil discovery off the coast of Guyana at the Pacora reservoir has further emboldened joint venture partners down dip in the Orinduik block. Eco Guyana holds a 40% working interest alongside Tullow Oil (60%) in the 1,800 km2...
US oil major ExxonMobil is targeting production of 2 billion oil equivalent barrels in Guyana over the first three phases of development in the 6.6 million acres Stabroek Block, beginning with Liza Phase 1 in 2020.
In its recently released...
The International Monetary Fund (IMF) has found that Guyana’s royalty rate of two percent for its Stabroek Block, while seen as modest, will in fact protect the country from skullduggery in the form of distorted investments and production levels...
Guyana’s first and major oil deal, with ExxonMobil, produces results for the government which are outlier low, a financial model reveals. Over the life of the project the government should expect to see from 52% to 54% of profits,...
(Bloomberg) Exxon Mobil Corp. got such a “favorable” deal from Guyana, home to the biggest new deepwater oil play that the tiny South American country should rewrite its tax laws, the International Monetary Fund said.
While Guyana should honor the existing deal, future...
The prospect of bringing natural gas to shore in Guyana for the primary purpose of fueling power plants to produce low-cost electricity remains a project ExxonMobil is passionate about but the company says no final decision has yet been...
Without a comprehensive study being conducted to determine what the cost would be to bring natural gas to shore and the associated land based infrastructure required to facilitate this, any talk about its economic feasibility hinges on speculation.
A well-placed...
CNOOC Limited, the owner of Nexen which is a 25% joint venture partner in the Stabroek Block offshore Guyana along with ExxonMobil and HESS, recently announced that for 2017 its reserves and profit improved significantly.
In announcing its performance for...
