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(Reuters) - Exxon Mobil (XOM.N) CEO Darren Woods' first five years at the oil company were marred by missed oil production targets, an investor rebellion and the company's biggest-ever financial loss. Redemption came this year when - aided by a share price pumped up by high oil prices - he clinched a $60 billion deal to buy shale rival... Continue Reading →
(Bloomberg) Exxon Mobil Corp. Chief Executive Officer Darren Woods said the Texas energy giant is focusing on producing oil in Guyana as efficiently as possible to help the South American country in its border dispute with Venezuela. “I’m not sure the press has captured the true intensity of the situation there, but we’re keeping an... Continue Reading →
(OET) Italy’s engineering, drilling, and construction services provider Saipem has tucked under its belt two new offshore contracts worth approximately $1.9 billion for work with ExxonMobil’s subsidiary ExxonMobil Guyana Limited and Equinor. As a result, the Italian player will carry out operations for the U.S. oil major in Guyana while the assignment with the Norwegian state-owned... Continue Reading →
(Reuters) Brazil's environment protection agency Ibama is expected to decide by early next year if state-run oil company Petrobras PETR4.SA can drill near the mouth of the Amazon River, Ibama's president Rodrigo Agostinho said on Wednesday. The area is part of Brazil's Equatorial Margin, which Petrobras considers its most promising new frontier for oil and... Continue Reading →
(OET) U.S.-headquartered energy giant ExxonMobil is taking several steps to slash its greenhouse gas emissions. The oil major’s CEO believes that renewables are not up to the task of handling emissions on their own, thus, the use of other technologies is seen as key to curbing emissions during the transition to a low-carbon and green... Continue Reading →
(OE) Japanese FPSO leasing firm MODEC said Thursday that the first steel-cutting ceremony for the Guyana-bound FPSO Errea Wittu had been held in China. MODEC secured its first order to supply an FPSO to Guyana in May 2023. The order came from an ExxonMobil-led consortium and is for the deployment of the FPSO to the... Continue Reading →
(OET) AIM-listed and Canada-headquartered oil and gas company Eco (Atlantic) Oil & Gas is embarking on a search for new partners, after expanding its interest in a block offshore Guyana, thanks to the green light for the acquisition of Tullow Oil’s entire interest in Tullow Guyana (TGBV), which includes the Orinduik license and operatorship of... Continue Reading →
(OET) U.S.-headquartered energy giant ExxonMobil has started production from its third oil development at the Stabroek block offshore Guyana, boosting total production capacity in the country to approximately 620,000 barrels per day. ExxonMobil made a final investment decision to proceed with the Payara field development, Guyana’s third offshore oil development on the Stabroek Block, at the end of September... Continue Reading →
(OE) KOTUG said Tuesday it had, via its Guyanese subsidiary KOTUG Guyana strengthened its position in Guyana with the arrival of three additional Offshore Terminal Tugs to support ExxonMobil Guyana’s offshore operations. With the arrival of KOTUG-owned ‘SD Grace’, ‘Seaways 20’ and ‘Seaways 22’, KOTUG will operate a total of five offshore terminal tugs in... Continue Reading →
(Reuters) British trading firms BB Energy and JE Energy on Thursday won two contracts to market Guyana's share of crude production through deals that will pay the South American country premium fees of between 26 cents and 70 cents per barrel over market prices, the energy minister said. Guyana's light sweet crude grades, Liza and... Continue Reading →
Brazil Energy Insight 