Chinese state oil and gas company CNOOC has set its 2025 production target at a record high, between 5.6% and 8.3% above 2024's output.The offshore oil and gas specialist pumped about 720 million barrels of oil equivalent (boe) in 2024, meeting the high end of its target, CNOOC said in a statement outlining its annual strategic outlook on Wednesday.That was up 6.7% from 2023's 675 million boe.CNOOC said it was targeting net production at between 760 million and 780 million boe for 2025…
Dutch FPSO leasing specialist SBM Offshore has completed the final module lifts at Seatrium’s shipyard in Singapore for a floating production, storage, and offloading (FPSO) unit ONE Guyana, which is scheduled for departure to ExxonMobil’s Yellowtail field offshore Guyana in early 2025…
Chinese offshore oil and gas major CNOC posted record first-half profit on Thursday, boosted by output growth and higher oil prices.Net profit attributable to shareholders rose 25% to 79.73 billion yuan ($11.19 billion), CNOOC said in a filing with the Hong Kong Stock Exchange…
Hess shareholders on Tuesday approved the company's $53 billion merger with No. 2 U.S. oil company Chevron, according to preliminary results of the vote.The merger required a majority vote to approve the deal by a majority of Hess' 308 million shares outstanding to pass…
SBM Offshore’s floating floating production, storage, and offloading (FPSO) unit ONE Guyana, built for ExxonMobil’s Yellowtail field offshore Guyana, has left the drydock and arrived along quayside at the Seatrium yard in Singapore.The FPSO…
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…
Venezuelan President Nicolas Maduro said he would authorize oil exploration in an area subject to a dispute with Guyana, which said it would report his comments to the United Nations and the International Court of Justice (ICJ).Maduro's pledge…
Exxon Mobil CEO Darren Woods' first five years at the oil company were marred by missed oil production targets, an investor rebellion and the company's biggest-ever financial loss.Redemption came this year when - aided by a share price pumped…
Saipem won two offshore contracts, one in Guyana and the other in Brazil, worth approximately $1.9 billion.The first contract has been awarded by ExxonMobil’s subsidiary ExxonMobil Guyana Limited for the proposed Whiptail oilfield development located in the Stabroek block offshore Guyana…
Chinese national offshore oil and gas major CNOOC Ltd, on Tuesday posted an 8.13% fall in third quarter profit on lower realised oil prices despite higher output.Net profit fell to 33.88 billion yuan ($4.64 billion), CNOOC said in a filing to the Hong Kong Stock Exchange…
WSG Energy Services (WSGES) in Singapore has secured multiple contract wins on Floating Production Storage and Offloading (FPSO) vessel projects with a combined value in excess of at $10m.WSG was commissioned by Yinson Production to assist on the upgrade and conversion of FPSO Atlanta…
The Big three oilfield services (OFS) companies will likely report higher profits for the second quarter as resurgent demand in international markets and strong offshore drilling helped counter tepid activity in North America.Baker Hughes, Halliburton…
After a slowdown in activity during 2020/2021 due to soft commodity prices, demand for FPSOs is picking up.With exploration hotspots like Namibia’s Orange Basin and the East Mediterranean delivering new finds, the FPSO market outlook is healthy…
India's state-run Oil and Natural Gas Corp said oil output from the Sakhalin-1 project in Russia has bounced back to its plateau level of about 200,000 barrels per day (bpd) from zero, according to a company presentation.ONGC hopes to reclaim…
The new Chief Executive of Brazil's Petrobras, Jean Paul Prates, has picked geologist Mario Carminatti to head the oil company's exploration and production division, people with knowledge of the information said on Friday.As the company's chief geologist…
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