Chevron Completes Acquisition of Hess Following Court Victory Over Exxon
American Chevron, as promised, closed the deal to acquire its competitor Hess within 48 hours after the International Chamber of Commerce (ICC) arbitration ruled in favor of Chevron in the case filed by ExxonMobil and CNOOC regarding pre-emptive rights to purchase Hess’s 30% stake in the Stabroek Block in Guyana, …
Arbitration Between ExxonMobil and Chevron Over Hess Merger to Begin on Monday
Two major American oil companies, ExxonMobil and Hess, will meet in court on Monday to determine whether Chevron’s planned $53 billion acquisition of Hess will go forward. The key issue at the heart of the dispute is rights to oil fields in Guyana, considered among the richest in the world, …
France’s TotalEnergies Produces First Oil from Mero-4 Field in Brazil
French energy company TotalEnergies has announced the first oil production from the fourth development phase of the Mero field, located in the Libra block, approximately 180 kilometers off the coast of Rio de Janeiro, in the pre-salt zone of the Santos Basin, Brazil. Launched in August 2021, the new phase—known …
KazMunayGas and China’s CNOOC to Conduct Exploration in Kazakhstan
During his visit to China, A. Khasenov held meetings with the heads of leading Chinese companies China National Offshore Oil Corporation International Limited (CNOOC) and CITIC Group. This is reported by the KMG press service. During the meeting, issues of implementing joint initiatives in the field of exploration, oil production …
CNOOC Puts Wushi 23-5 Oil Field Into Operation
Chinese oil and gas giant China National Offshore Oil Corporation (CNOOC) has put the Wushi 23-5 oil field in the South China Sea into operation. This was reported by the company’s press service. Wushi 23-5 The company notes that this project is the first full-scale oil field of “green” design …
CNOOC Limited Announced the Start of Oil Production as Part of the Enping 21-4 Field Development Project
The Chinese company CNOOC Limited (a subsidiary of the oil and gas giant China National Offshore Oil Corporation, CNOOC) began production as part of the Enping 21-4 oil field development project. The company’s press service reported this on June 27, 2024. Enping 21-4 Field opened in 2020; part of the …
American ExxonMobil Wants Another Oil Field in Guyana
The American corporation ExxonMobil has submitted an application to the Guyanese authorities for an environmental permit for the development of the Hammerhead field, located on the shelf. This asset could become ExxonMobil’s seventh oil project in Guyana. Bloomberg writes about this. It is expected that production at Hammerhead could reach …
China Drilled in the Gulf of Bohai an Oil Well with a Depth of Over 6 km
Bohai 19-6-D1 will be used to extract oil and gas at the Bochzhun gas condensate field 19-6. China completed work on drilling a well with a depth of 6,088 m at the oil field in the Bahai Gulf of the Yellow Sea. This was announced by the Tianjin branch of …
Oil Production in Gayana Overtook the Production of Chips by Profitability
The net profit of the enterprise of the American Exxon and Hess and the Chinese CNOOC in a joint venture at the Gayan shelf, led by Exxon, increased sharply in 2023, and profitability exceeded the NVIDIA indicator, Reuters writes. The beneficial agreement of Gayana with a consortium led by Exxonmobil …
Hess-Chevron Deal May Be Suspended Until 2025
A transaction arbitration panel that could have blocked or green-lit the $53 billion sale of Hess to Chevron has not made a decision three months after ExxonMobil filed a claim for pre-emptive rights to buy Hess’ assets in Guyana as a co-owner of the project. The third and final arbitrator …