News
March 18, 2024
The Bluefin well encountered approximately 197 ft (60 m) of hydrocarbon-bearing sandstone and was drilled in 4,244 ft (1,294 m) of water, Exxon said in a statement. Bluefin joins the more than 30 oil discoveries in the Stabroek block since 2015, Exxon added.
News
March 15, 2024
Trinidad’s energy minister and its national gas company’s vice president and bp’s local head and Venezuela’s oil minister had met to discuss developing the Manakin and Cocuina fields as one project. bp operates the Manakin field, which lies in Trinidad’s waters.
News
March 14, 2024
The fight over the future of Ecopetrol — Colombia’s largest company — underscores the rifts that are arising over Petro’s push to eliminate the country’s dependence on oil and gas, which has major implications for its economy and finances.
News
March 12, 2024
The AREA OFF-3 license has substantial existing 2D and 3D seismic coverage, with two previously identified material prospects possessing currently estimated gross resource potential of up to 2 Bboe and up to 9 Tcfg.
News
March 10, 2024
The Petrobras delegation visited oil fields in Lake Maracaibo this week in what people familiar with the matter described as a courtesy trip. Maracaibo is a key production region for Venezuela and an opportunity for the country to resuscitate the linchpin of its economy after years of underinvestment.
News
March 07, 2024
YPF will add three more drilling rigs in the Vaca Muerta this year as it narrows its focus on the shale patch in a bid to spur a 24% year-on-year jump in shale oil production, Marin said. YPF’s shale oil output last year was almost 100,000 bpd.
News
March 07, 2024
The disclosure marks the first time either Hess or Chevron have said Exxon’s push to safeguard its preemption rights in Guyana could delay their merger, initially expected to close by the second half of this year.
News
March 07, 2024
The flow is expected to increase the overall production at Chevron’s three jointly run ventures with the state oil company Petroleos de Venezuela SA by 35% to 250,000 bpd by 2025, leading to more supply shipped to the US.
News
March 06, 2024
Exxon filed for arbitration in the International Chamber of Commerce in Paris on Wednesday. Exxon, as 45% owner and operator of the Guyana project, believes it has a right of first refusal over any change of hands in Hess’ 30% stake and would consider matching Chevron’s valuation.
News
March 06, 2024
Chevron will pay to CEG $12.5 million cash on completion of the transaction. Chevron will carry 100% of CEG Uruguay's share of the costs associated with a 3D seismic campaign on AREA OFF-1, up to a maximum of $15 million net to CEG Uruguay.
News
March 06, 2024
Hedge fund managers that wagered billions on Chevron Corp.’s October deal to buy Hess Corp. are sticking to their bets despite another roadblock that could potentially torpedo the acquisition.
News
March 05, 2024
PETRONAS will drill the Sloanea-2 appraisal well starting in April 2024. A production test will also be carried out. The drilling platform is now drilling the Fusaea-1 exploration well in Block 52 and already drilled the first part of the Sloanea-2 well in February.
News
March 04, 2024
Venezuela and Guyana have disputed the Essequibo region for nearly a century, but tensions escalated after the discovery of massive oil basins in recent years off Guyana’s coast. The country has seen an influx of investments by companies including Exxon Mobil Corp.
News
March 04, 2024
Majors including Shell and Exxon Mobil Corp. have spent billions to acquire concessions and carry out exploration campaigns at pre-salt blocks without announcing significant discoveries and have even returned some of the blocks to Brazil’s oil regulator, known as ANP.
News
February 28, 2024
BL’s operations in Singapore will provide a tow master to act as client representative throughout the 12,108 nautical mile towage. The tow master will supervise and ensure that all marine operations in the leadup and sailaway from Yantai CIMC Raffles Shipyard are carried out in-line with approved recommendations and procedural documentation.
News
February 27, 2024
Enap signed a deal with Upwing Energy to install compressors deep in wells at its onshore operations in the Magallanes basin, the two firms said Tuesday. Without offering projections for the contract, Upwing says its technology can boost production anywhere from 20% to 200% depending on well conditions.
News
February 27, 2024
Chevron is adamant there’s “no possible scenario” in which Exxon or Cnooc could buy the stake and said in a statement that it remains fully committed to the Hess deal. But Exxon said it has a duty to its shareholders to explore the right of first refusal over the change of ownership of the Hess stake.
News
February 26, 2024
The unit, chartered by Petrobras from MISC, will be part of Mero’s 3rd definitive production system and will increase the field’s installed production capacity to 590,000 bpd,
News
February 25, 2024
Exxon received several offers for holdings in Argentina’s heralded Vaca Muerta formation in Patagonia earlier this month, according to people familiar with the matter. The assets, which comprise stakes it owns with QatarEnergy in seven oil-and-gas blocks in the shale patch as well as holdings in a pipeline, have been valued at around $1 billion, said the people, who declined to comment publicly on private talks.
News
February 22, 2024
Officials said Thursday that they are now reevaluating the discovery, named Orca-1. In the processes of working to verify its size, Ecopetrol found two previously unknown natural gas deposits, raising hopes that the country will still be able to expand its offshore gas production.
News
February 21, 2024
A gas-focused development is one of three options being weighed by Exxon for its seventh Guyana project, country manager Alistair Routledge said in an interview in Georgetown Wednesday. The other two are additional oil developments from existing and new discoveries, he said.
