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“These discoveries are part of an extensive well program in the Stabroek Block utilizing six drillships to test play extensions and new concepts, evaluate existing discoveries and complete development wells for the Liza Phase 2 and Payara projects,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. View the full article
Wednesday’s ruling by a judge in Fort Worth, Texas, will allow Exxon to pursue claims that Arjuna abused the shareholder vote process by buying minimal shares to campaign for proposals that “are calculated to diminish the company’s existing business.” View the full article
Algeria’s SONATRACH and ExxonMobil signed a Memorandum of Understanding to study existing opportunities to develop oil and gas resources in the Ahnet basin and the Gourara basin, with an emphasis on operational excellence, technological innovation , respect for the environment and best sustainability practices. View the full article
Viaro will take full ownership of the Bacton onshore gas terminal and 11 offshore facilities that produced around 28,000 boe last year, according to a statement from the company on Tuesday. That’s equivalent to about 5% of total UK gas production, and the company said it sees potential to expand production further. View the full article
The upstream assets consist of a portfolio of production and exploration licenses in the DNS comprising 2,415 km2 (approximately 600,000 net acres). The licenses are in shallow water at an average water depth of 34 m, approximately 60 km offshore. View the full article
Golden Pass, in its motion, urged the court to force Zachry — which filed for Chapter 11 proceedings in May and laid off thousands of workers from the Golden Pass site — to walk away from its contract and allow the joint venture to hire replacement workers. View the full article
A bankruptcy judge on Wednesday approved a settlement between the joint venture building Exxon Mobil Corp.’s $10 billion gas export project in Texas and lead contractor Zachry Holdings Inc., allowing other companies to finish work on the plant. View the full article
The companies agreed other contractors could finish work on Golden Pass last month, paving the way for a restart after several setbacks this year. The new schedule means the 18 million-metric-ton-a-year facility, one of the country’s biggest, will begin operations about six months later than the previous plan, Exxon Chief Financial Officer Kathy Mikells said during an interview. View the full article
PETRONAS has achieved success offshore Suriname with the Sloanea-2 appraisal well in Block 52, which was drilled in June. This accomplishment has bolstered PETRONAS’ prospects in the basin and opens the possibility of developing a standalone Floating Liquified Natural Gas (FLNG) project at the field in the future. View the full article
EOG, Conocophillips, Occidental and Devon Energy filled in the remaining four of the top five drilling customer positions. Patterson-UTI, Nabors, Ensign Energy Services and Precision Drilling took places 2-5 as the top U.S. land drillers. View the full article
Equinor's exit from Suriname is part of a broader strategy, having exited about 20 countries in recent years, including South Africa, Mexico, and Russia, the latter due to the invasion of Ukraine. View the full article
World Oil and its parent, Gulf Energy Information, are excited to announce the finalists for the 2024 Gulf Energy Information Excellence Awards! Putstanding companies and individuals from ExxonMobil, Woodside Energy, SLB, Halliburton, Baker Hughes, and more have demonstrated exceptional innovation and leadership across the upstream sector. View the full article
The supermajor is working on developing the deepwater Owo project, Nigerian Vice President Kashim Shettima said after meeting Exxon Nigeria chairman Shane Harris. The company also proposed to spend $2.5 billion annually to boost oil output by 50,000 bpd over the next few years, Shettima said. View the full article
Exxon Mobil Corp.’s top executive vowed to sue more activist investors if they continue to “abuse” the proxy voting process, just months after a lawsuit against Arjuna Capital LLC was dismissed by a federal judge. View the full article
The package includes older wells in the Permian’s Central basin that produce small but stable amounts of oil, according to people familiar with the matter who declined to be named because sale negotiations are private. View the full article
The FEED contract scope of work includes the modular design of a greenfield LNG production facility in Afungi, all associated gas pre-treatment units and the utilities and offsite systems to support the LNG production. The plant will have an overall production capacity of 18 million tons per annum. The scope of work also includes the engineering, procurement and construction proposal. View the full article
The sophisticated system is designed to protect floating production storage and offloading platforms (FPSOs) and other high-value assets against a wide range of marine risks, even in the most challenging marine environments. View the full article
ExxonMobil announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. View the full article
ExxonMobil reported a significant discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality, oil-bearing sandstone reservoirs. View the full article
These reconnaissance contracts cover the Safi-Essaouira and Agadir-Ifni areas offshore the cities of Safi, Essaouira, Agadir and Sidi Ifni. View the full article
ExxonMobil announced three new discoveries offshore Guyana which will increase the estimate of the recoverable resource of the Stabroek Block to nearly 11 billion oil-equivalent barrels. View the full article
SBM Offshore and ExxonMobil Guyana Ltd, an affiliate of Exxon Mobil Corporation, have completed a purchase transaction for the FPSO Prosperity. The purchase allows ExxonMobil Guyana to assume ownership of the unit while SBM Offshore will continue to operate and maintain the FPSO up to 2033. View the full article
The oil major plans to take as much as 2 million tons of CO2 emissions from CF Industries Holdings Inc.’s ammonia plant in Donaldsonville, Louisiana, and pump them into permanent storage in rock formations deep below the ground. View the full article
The Pioneer takeover closed in early May, helping lift Exxon’s overall production by 15% on a sequential basis, and setting the stage for daily output to average more than 4 MMbbl this year. View the full article
The plant design will feature electric-driven LNG trains instead of gas turbines, reducing greenhouse gases emissions compared to conventional LNG projects. It will also include prefabricated and standardized modules to be assembled at the project site in Mozambique, offering cost competitiveness and certainty in delivery schedule. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
