Ministry of Energy of the Republic of Kazakhstan: The Tengiz Field Will No Longer Increase Oil Production
Oil production in the Republic of Kazakhstan rose by 2% from the April average, reaching 1.86 million barrels per day (bpd) between May 1 and May 19, according to Reuters. The Tengiz field alone contributed 932,000 bpd to this total. In April, Kazakhstan reduced its oil output by 3% month-on-month, …
The Abu Dhabi National Oil Company (ADNOC) Will Collaborate with ExxonMobil to Enhance Recovery at the Upper Zakum Oil Field
The Abu Dhabi National Oil Company (ADNOC) of the United Arab Emirates (UAE) and ExxonMobil Corporation of the United States will work jointly to enhance oil recovery at the Upper Zakum offshore oil field, ADNOC announced following the recent visit of U.S. President Donald Trump to the Emirates. The field …
Equinor and ExxonMobil Transfer Shares in a Marine Block in Suriname, Media Reported
Norwegian oil and gas group Equinor is leaving Suriname and, together with ExxonMobil, is transferring shares in the deepwater exploration block to the American energy company Hess, Reuters reports. “Equinor and ExxonMobil announced on Wednesday that they had transferred their shares in a deepwater oil and gas exploration block off …
ExxonMobil Will Transfer Operations Management to Petronas in Two Production Projects
According to representatives of the companies, this is not a sale, the share and distribution of companies in the project will not change. However, the Malaysian media speaks with reference to sources that Exxonmobil intends to get rid of old shelf assets. The company said that it intends to continue …
Sale of Eni and Equinor’s Onshore Assets in Nigeria Is Approved
The Nigerian Petroleum Regulatory Commission (NUPRC) has given the green light for the sale of Eni and Equinor assets to Nigeria’s Oando. The deals had been pending for months as they required approval from the Minister of Petroleum under the recently passed Petroleum Act. Approvals for ExxonMobil’s $1.3 billion sale …
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 …
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 …
Europe Wants to Find an Alternative to Russian Gas Imports in Algeria
Algerian state-owned Sonatrach will sign an agreement to develop a large hydrocarbon field with Chevron in the next few days, said Algerian Energy Minister Mohamed Arkab. According to him, another document is being prepared for signing with ExxonMobil. Agreements with Western companies will concern the development of new hydrocarbon fields …
The President of Guyana Invited Chevron to Enter into a $150 Billion Oil Production Project
Guyanese President Irfaan Ali would welcome the entry of American Chevron Corp. into the capital of the operator of the Stabroek Block oil production project off the coast of the state. Ali told the Financial Times. Stabroek Block is one of the most “cash” deposits discovered in recent decades, the …