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(OM) Woodside Energy has reaffirmed its goal of taking a final investment decision this year on the deepwater Trion oilfield development offshore Mexico. Toward the end of last year, the partners issued competitive tenders for drilling rig, subsea equipment and installation scopes for the subsea facilities, floating production unit (FPU), and the floating storage and offloading vessel. In... Continue Reading →
U.S.-headquartered energy giant ExxonMobil has made a significant new oil discovery at the Stabroek block, which boosts the block’s hydrocarbon resources, fortifying the oil major’s existing portfolio of extensive development opportunities offshore Guyana. The new oil discovery, made at the Fangtooth SE-1 well on the Stabroek block, was disclosed on Wednesday, 25 January 2023, by ExxonMobil’s partner... Continue Reading →
(Reuters) - Mexican oil and gas companies, including state giant Pemex, are lagging behind on their obligations to identify, report and mitigate methane emissions from their installations, an investigation by a group of non-profits found. Methane, a potent greenhouse gas that traps heat in the atmosphere, has emerged as a top threat to the climate.... Continue Reading →
(Reuters) Norway's Equinor has launched the sale of its stake in an offshore Nigerian oilfield, joining a retreat by Western energy firms from the West African country as they focus on newer and more profitable operations, three industry sources said. The company has hired investment bank Standard Chartered to run the sale process, which could... Continue Reading →
Energy producer Hess Corp. on Wednesday beat Wall Street estimates for fourth-quarter profit on higher crude prices, and said it had found more oil offshore Guyana. Western sanctions against major energy producer Russia and the decision of producer group OPEC+ to cut output by 2 million barrels per day pushed up Brent crude prices by... Continue Reading →
(Reuters) - West Africa-focused oil producer Tullow (TLW.L) sees its 2022 free cash flow at $267 million, slightly ahead of previous guidance and up from $245 million the previous year, it said in a trading update on Wednesday. It plans to invest $400 million this year, mainly on its flagship fields in Ghana, expecting free cash flow... Continue Reading →
Karoon announced an increase in its proven reserves (1P) in block BM-S-40 – which encompasses the producing Baúna and Piracaba fields and the Patola field, which is under development. The block, located in the Santos Basin, has 42.8 million barrels in 1P reserves, according to an assessment reviewed and certified by AGR Energy Services (dated... Continue Reading →
TotalEnergies' offshore oilfield Dalia in Angola will undergo planned maintenance for about 35 days starting Feb. 20, a company spokesperson said on Tuesday. The company added that the maintenance will include inspections of equipment, subsea lines and works relating to flare tips. The field produces more than 200,000 barrels per day. Traders said there may... Continue Reading →
(Reuters) U.S. oil and gas producer Hess Corp on Tuesday forecast higher Exploration & Production (E&P) capital and exploratory budget of $3.7 billion for 2023, of which more than 80% would be allocated to Guyana and North Dakota's Bakken shale field. The company forecast 2022 E&P capital and exploratory expenditures of about $2.7 billion. The... Continue Reading →
(Reuters) - U.S. oil and gas deal-making declined by 13% last year to $58 billion compared to 2021, according to energy technology firm Enverus, with the volume of activity hitting its lowest level since 2005 as buyers became more choosy about asset purchases. The decline comes as large companies with strong balance sheets are targeting... Continue Reading →
Brazil Energy Insight 