ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 billion oil equivalent barrels and made a further oil discovery northeast of the producing Liza field at the Uaru exploration well, the 16th discovery on the Stabroek Block.
Facing economic collapse and painful sanctions, the socialist government of Venezuelan President Nicolas Maduro has proposed giving majority shares and control of its oil industry to big international corporations, a move that would forsake decades of state monopoly.
The 23rd World Petroleum Congress will provide the platform for open dialogue between consumers and producers, governments and industry, academia and financiers, leaders and society, in order to address these issues and present debates, developments and solutions for sustainable production and use of the world’s energy resources.
EnCap Investments LP plans to use a $6 billion war chest to drill oil and natural gas wells, now that dwindling investor interest has made it tougher for private equity players to offload shale assets.
Brazil, which became a net oil exporter last year, wants to expand its footprint in global energy markets without joining OPEC.
Offshore aviation transportation companies Bristow Group and Era Group announced that they entered into a definitive agreement to combine the two companies in an all-stock transaction, creating a financially stronger company with enhanced size and diversification.
Tullow Oil and Total have started the process to sell part of their stakes in oil discoveries in Kenya, said people familiar with the matter.
Exxon Mobil plans to start gauging buyer interest in its UK and German upstream operations in the coming weeks as the oil major continues to divest overseas assets, people with knowledge of the matter said.
Andres Manuel Lopez Obrador, who swept into power in Mexico after promising big changes in the country’s energy markets, has been careful not to spook investors by canceling past reforms outright.
Oil hits a two-month low as the Asian virus threatens demand, one of the best-known shale bankers tells Houston to embrace the energy transition, and continued Mediterranean tension has tankers piled up off Libya’s coast.
Liquefied natural gas prices are poised to test record lows this year thanks to an onslaught of new supply and warmer winter temperatures curbing consumption.
The bosses of some of the world’s biggest oil companies discussed adopting much more ambitious carbon targets at a closed-door meeting in Davos on Wednesday, a sign of how much pressure they’re under from activists and investors to address climate change.
Western Europe’s biggest oil and gas producer just witnessed its final investment boom, according to Norway’s largest bank.