A consortium led by Exxon Mobil Corp which controls all oil production in Guyana is pumping about 645,000 barrels per day (bpd) in the South American country, up from about 400,000 bpd in late 2023, the U.S. producer said at a press conference on Tuesday…
Exxon Mobil on Friday posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production.Oil majors are expected to report 2023 profits down by about a third from record levels in 2022, as oil…
ExxonMobil Guyana has unveiled that the Prosperity floating production storage and offloading (FPSO) unit, used in the Payara project, achieved background flare in 39 days, ahead of the 60-day target.Achieved ahead of schedule outlined in the project’s environmental permit…
A Biden administration auction of Gulf of Mexico drilling rights raised $382 million on Wednesday as oil companies claimed offshore acreage for what is set to be the last time until 2025.The auction total was the highest of any federal offshore oil and gas lease sale since 2015…
Occidental Petroleum said on Monday it would buy energy producer CrownRock in a cash-and-stock deal valued at $12 billion including debt, expanding in the lucrative Permian basin.Investors are pressing oil and gas producers to expand their inventories…
The U.S. Federal Trade Commission has sent a second request to Chevron and Hess, seeking additional information and documentary materials related to their pending merger, the companies said on Friday.(Reuters Reporting by Sourasis Bose)
Oil major Chevron Corp said on Wednesday that it expects to spend between $18.5 billion and $19.5 billion next year on new oil and gas projects, an 11% increase on this year.Its 2024 budget and that of rival ExxonMobil reflect the industry's continuing rebound after pandemic-influenced pullbacks…
Chevron’s deal to buy Hess will unlock $15 billion worth of tax benefits that had once been relegated to the accounting dustbin, as the combined company takes advantage of Hess’s past losses to cut future payments, according to the company and tax experts…
UK-based offshore well decommissioning specialist Well-Safe Solutions has signed a contract with Spirit Energy to add a well from the Appleton field in the UK North Sea to the existing scope of the Well-Safe Defender semi-submersible plugging and abandonment rig…
Chevron posted a slump in third-quarter profit on Friday despite higher oil prices, days after agreeing to buy smaller U.S. rival Hess Corp. for $53 billion, sending its shares down 1.6% before the bell.The company had in July flagged that upstream…
An appraisal well drilled by a consortium led by Exxon Mobil in Guyana has resulted in a 'significant discovery' of oil and gas, the South American country's energy ministry said on Thursday.The Lancetfish-2 well results mark the fourth offshore discovery in the country this year…
Exxon Mobil's $59.5 billion deal to acquire oil and gas producer Pioneer Natural Resources may have been larger than Chevron's $53 billion agreement to buy Hess, but it is Chevron that is paying a loftier price tag.Pioneer generates twice as much annual cash as Hess…
Oil and gas producer Hess Corp on Wednesday beat Wall Street estimates for third-quarter profit on higher production, days after agreeing to be bought by larger U.S. rival Chevron Corp for $53 billion.New York-based Hess's net production was 395…
Chevron agreed to buy U.S. rival Hess for $53 billion in stock in a deal that reflects top U.S. energy companies drive for oil and gas assets in a world seeking lower-risk future fossil supplies and higher shareholder returns. The proposed deal amps up competition between Chevron…
U.S. oil producers ExxonMobil and Hess Corp have withdrawn from exploring the Kaieteur block in Guyana’s deepwaters, Exxon said on Thursday, after disappointing exploration results.The exit comes as the producers focus on their larger and highly productive Stabroek block…
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