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ONE Guyana FPSO to Depart for Yellowtail Field Early in 2025

Nov 21, 2024

Guyana's fourth oil floating production storage and offloading (FPSO) facility is expected to depart for the South American country in the first quarter next year, the CEO of U.S. producer Hess, John Hess, said on Wednesday.The firm, which alongside…

ExxonMobil Takes Ownership of FPSO Prosperity

Nov 08, 2024

ExxonMobil has assumed ownership of the Prosperity floating, production, storage and offloading (FPSO) unit from SBM Offshore, operating at Payara, Guyana’s third offshore oil development on the Stabroek Block.ExxonMobil, through its affiliate ExxonMobil Guyana…

US FTC Greenlights Chevron-Hess Deal

Oct 01, 2024

The U.S. Federal Trade Commission allowed Chevron's $53 billion purchase of Hess Corp on Monday, in an order that barred Hess CEO John Hess from Chevron's board.The FTC's order leaves Exxon Mobil's challenge to the deal, which is expected to stretch deep into next year…

FTC Set to Greenlight Chevron's $53 Billion Hess Buy

Sep 23, 2024

The U.S. Federal Trade Commission is expected to greenlight U.S. oil producer Chevron's purchase of Hess as soon as this week, two people familiar with the matter said, leaving Exxon Mobil's challenge to the $53 billion deal as its final hurdle…

Hess Guyana's Value is Central to Exxon Mobile Spat

Aug 20, 2024

An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, people familiar with the matter said.Chevron last October offered to pay $53 billion for Hess…

Equinor Exits Suriname

Aug 07, 2024

Equinor and ExxonMobil Corp said on Wednesday they have transferred their stakes in a deepwater oil and gas exploration block off Suriname to Hess Corp, with the Norwegian oil producer exiting the South American country.The exit aligns with…

Chevron Earnings Slide as Hess Merger Arbitration Drags On

Aug 02, 2024

Chevron Corp on Friday posted sharply weaker second-quarter earnings and the oil major's CEO discounted the chance to close a $53 billion acquisition of Hess Corp before mid-2025, sending shares down 3%.Shares were off 9% since Wednesday following…

Chevron Departing California for Texas

Aug 02, 2024

U.S. oil company Chevron Corp said on Friday it was replacing several long-standing managers in a reshuffle of senior jobs and that it was moving its headquarters to Houston from San Ramon, Calif.The changes come as the company works to cut costs and renew leadership after a series of setbacks…

ExxonMobil Delivers $9.2B Second-Quarter Profit, Raises Output Target

Aug 02, 2024

Exxon Mobil on Friday posted a better-than-expected $9.2 billion second-quarter profit based on rising output from its purchase this year of shale oil firm Pioneer Natural Resources.Exxon delivered a $2.14 a share profit that beat analysts'…

Exxon Clash with Chevron Hinges on Control of Hess' Guyana Asset

Jul 18, 2024

Exxon Mobil's legal bid to stop Chevron's proposed $53 billion acquisition of Hess rests on whether the transaction would involve a change of control of Hess' prize subsidiary in Guyana, according to people knowledgeable about the argument.The two top U…

Transocean’s Deepwater Asgard on Extended Stay in US Gulf of Mexico

Jun 26, 2024

Offshore drilling contractor Transocean has secured another contract extension for its Deepwater Asgard drillship with Hess Corporation for work in the U.S. Gulf of Mexico.The $188 million contract extension is for one full year, Transocean said…

Exxon-led Guyana Oil Group's Net Margin Jumps in 2023

Jun 25, 2024

Guyana's lucrative agreement with an ExxonMobil-led consortium in the South American country last year generated $6.33 billion for the partners, government data showed, yielding a net margin larger than that of chip-maker Nvidia Corp.The trio's combined net margin was 56%…

Fulcrum LNG Set to Help Guyana Develop Its Natural Gas Resources

Jun 21, 2024

U.S. firm Fulcrum LNG was selected to help Guyana develop a plan to design, finance, construct and operate a natural gas processing facility in the South American country, President Irfaan Ali said on Thursday.The company's proposal was selected from among 17 submitted to Guyana for the gas project…

ConocoPhillips in Advanced Talks to Buy Marathon Oil

May 29, 2024

ConocoPhillips is in advanced talks to buy Marathon Oil in an all-stock deal that could value the Houston-based company at a little over its $15 billion market value, the Financial Times reported on Wednesday citing people briefed on the matter…

Hess Shareholders Sign Off On $53 Billion Sale to Chevron

May 28, 2024

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…

Current News

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