Exxonmobil

Exploration & Production Hydrocarbon production at record level: –  reached 1.92 million boe/d in December 2017, marking an all-time high for Eni; –  produced an average of 1.89 million boe/d in the fourth quarter, the highest quarterly production in the last seven years (up by 1.9%); FY production averaged 1.82 …

Analysis of upstream crude oil production shows that over $39.2bn in capital expenditure (capex) is forecast to be spent by ExxonMobil on oil projects over the next four years to ensure that its production remains around 2.1 million barrels per day (mmbd) in 2021. The Upper Zakum field would drive …

Kazakhstan’s energy ministry said on Tuesday that Tengizchevroil project has suspended operations at Tengiz oilfield after a toxic substance was released, while workers were evacuated. Chevron, ExxonMobil, Lukoil <LKOH.MM and KazMunayGas are partners in the venture, the Central Asian nation’s biggest oil producer. (Reporting by Alla Afanasyeva; writing by Vladimir …

Tengizchevroil, a Chevron-led joint venture and Kazakhstan’s No.1 oil producer, may take out loans and issue bonds to finance its $37 billion plan to expand production, an official at state oil firm KazMunayGaz said on Thursday. KazMunayGaz also holds a stake in Tengizchevroil. “There are different scenarios, but we think …

ExxonMobil Corp. failed to replace all of the oil and natural gas it pumped last year with new discoveries and acquisitions for the first time in more than two decades. Exxon’s so-called reserve-replacement ratio fell to 67% in 2015, the Irving, Texas-based company said in a statement on Friday. Prior …

U.S. energy company ExxonMobil has closed one of its offices in Azerbaijan, the country’s tax ministry said on Wednesday, the result of a delayed oil project. The office was linked to an oil production project on the Araz-Alov-Sharg oilfields in the Caspian Sea. The project is frozen until a decision …

International sanctions against Russia introduced in 2014 turned out not to be the bogeyman they first seemed to be, and could in fact have played a key role in helping the Russian oil sector to not only handle the sharp price drop over the last year and a half, but …

RN-Exploration (100% Rosneft subsidiary) and ExxonMobil Exploration and Production Mozambique Offshore Limited were declared winners for 3 blocks in the fifth license round organized by the Republic of Mozambique Institute of National Petroleum (Instituto Nacional de Petróleo). The global partnership of Rosneft and ExxonMobil is of a strategic nature, the …

This year’s SPE Annual Caspian Technical Conference and Exhibition—taking place 4–6 November in Baku, Azerbaijan—will feature three high-level panel sessions addressing the most topical trends, challenges and opportunities facing the oil and gas industry in the Caspian. The three panel sessions have the confirmed participation of some of the region’s …

While Russia is continuing to pump crude oil at record levels, producing on average 10.685 million barrels per day in 2015, the continuous pressure from US/EU sanctions is having an impact on the strategic course of Russian oil and gas industry, says an analyst with research and consulting firm GlobalData. …