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SBM Offshore and ExxonMobil Guyana Ltd, an affiliate of Exxon Mobil Corporation, have completed the transaction related to the purchase of FPSO Prosperity, ahead of the maximum lease term, which would have expired in November 2025. The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to operate and... Continue Reading →
(Reuters) - Guyana and Suriname could supply 12 million metric tonnes of liquefied natural gas annually at a competitive price by the next decade, according to a report by Wood Mackenzie on Monday. LNG demand is expected to spike by the end of the decade as industries switch from highly polluting coal to gas, which can cut... Continue Reading →
(Reuters) - Chevron Corp beat Wall Street estimates for third-quarter profit on Friday, helped by higher oil and gas output, but its earnings fell from a year ago. The U.S. company, whose proposed $53-billion takeover of Hess has been delayed due to a challenge by rivals Exxon and CNOOC Ltd , reported an adjusted profit of $4.53 billion, compared to... Continue Reading →
(Reuters) - Exxon Mobil on Friday beat Wall Street's third quarter profit estimate, boosted by strong oil output in its first full quarter that includes volumes from U.S. shale producer Pioneer Natural Resources. Oil industry earnings have been squeezed this year by slowing demand and weak margins on gasoline and diesel. But Exxon's year-over-year profit fell 5%,... Continue Reading →
(Reuters) - French oil major TotalEnergies third-quarter profit hit a three-year low of $4.1 billion on Thursday, slightly missing expectations as refining margins and upstream outages dragged down earnings. Adjusted net income was down 37% from a year earlier and 12.7% lower from the previous quarter's $4.7 billion. The result just missed analyst expectations of $4.2 billion. Adjusted... Continue Reading →
(Reuters) - Shell reported on Thursday third-quarter profits of $6 billion that exceeded forecasts by 12% as higher liquefied natural gas (LNG) sales offset a sharp drop in oil refining and trading results. The results, together with a drop in debt and strong cash flow, could lift investor confidence in CEO Wael Sawan's efforts to boost... Continue Reading →
(Reuters) - U.S. energy giant Exxon Mobil (XOM.N), opens new tab agreed on the terms and conditions to sell its oil and gas assets in Argentina's Vaca Muerta formation to Pluspetrol, a source at Exxon Mobil said on Wednesday. Exxon will sell five blocks in Argentina's western Neuquen province, home to Vaca Muerta, and its stake in... Continue Reading →
(Reuters) - Hess Corp beat estimates for third-quarter profit on Wednesday, helped by higher oil production in Guyana. The Guyana assets are at the center of an ongoing dispute between oil giants Chevron and Exxon that has delayed Chevron's $53 billion takeover of Hess. Hess agreed to the buyout last October, but the deal has been challenged by... Continue Reading →
Japan’s Modec has made further progress in the construction of a hull for a floating production, storage and offloading unit (FPSO) that will be deployed at ExxonMobil’s fifth oil development in the Stabroek block, offshore Guyana. The company announced the completion of the hull assembly of the FPSO Errea Wittu, 40 days ahead of schedule.... Continue Reading →
(oilnow.gy) ExxonMobil’s Liza find back in 2015 unlocked a treasure trove of oil and gas discoveries in Guyana’s Stabroek Block. Now, in 2024, the number stands at 45 discoveries and Exxon aims to take this even higher. “I believe Guyana will go down as one of the most successful deepwater developments in the history of... Continue Reading →
Brazil Energy Insight 