MercoPress, en Español

Montevideo, September 26th 2023 - 00:08 UTC

Tag: Exxon

  • Thursday, November 10th 2022 - 10:30 UTC

    Guyana becoming the world's most exciting oil frontier: with a million bpd by 2030

    Exxon’s latest oil discoveries in offshore Guyana were with the Sailfin-1 and Yarrow-1 wells in the Stabroek Block.

    No end to surprises from offshore Guyana and an ExxonMobil-led consortium, which have identified at least 11 billion barrels of recoverable oil resources, and catapulted the impoverished South America country firmly onto the global oil map.

  • Wednesday, October 5th 2022 - 13:30 UTC

    Guyana expected to deliver 810,000 bpd of light sweet crude by 2025

    Exxon, the operator who owns 45% of the block with Hess holding 30% and CNOOC the remaining 25%, is developing the Stabroek Block at a lightning pace.

    The former British colony of Guyana, to the north of Brazil and on the Caribbean has emerged as one of the continent’s top oil producers and is poised to become a leading global energy exporter. Since 2015 an Exxon Mobil-led consortium has made a swathe of high-quality oil discoveries in offshore Guyana in the 6.6-million-acre Stabroek Block, with the latest announced in July 2022. It is estimated those finds have uncovered nearly 11 billion barrels of recoverable oil resources in the Stabroek Block with further oil discoveries to come.

  • Wednesday, April 6th 2022 - 09:44 UTC

    Massive investments in Guyana's oil and gas industry by Exxon-Mobil

    Exxon, Hess Corp. and CNOOC Ltd Consortium started production in Guyana in 2019.  They have discovered more than 10 billion barrels of recoverable oil.

    Exxon Mobil is investing heavily off the coast of Guyana expecting future production of some 1,2 million barrels per day of oil and gas by 2027. According to the company the fourth oil project production off Guyana will receive an investment of US$ 10 billion.

  • Wednesday, May 13th 2020 - 07:46 UTC

    Guyana's second offshore facility FPSO on schedule for first oil in 2022

    Hess, in ExxonMobil operated Stabroek block the Liza Destiny is operating, said that Liza Destiny would reach full capacity of 120,000 gross bopd in June

    Liza Unity, an under-construction FPSO that will be Guyana's second offshore facility in production, remains on schedule for first oil in 2022, Hess Corp. announced. Guyana became an oil-producing nation in December 2019, when Exxon brought online the Liza Destiny FPSO.

  • Wednesday, December 19th 2018 - 08:53 UTC

    Patagonia indigenous peoples suing oil majors for “environmental contamination”

    The Mapuche are suing American giant Exxon, French company Total and the Argentina-based Pan American Energy, which is part owned by BP

    A major group of indigenous people living in Argentine Patagonia are taking some of the world's biggest oil and gas multinationals to court for “environmental contamination,” Greenpeace said this week. The Mapuche are suing American giant Exxon, French company Total and the Argentina-based Pan American Energy, which is part-owned by BP.

  • Friday, September 28th 2018 - 08:47 UTC

    Oil majors to bid for Brazil's offshore potential despite electoral uncertainty

    The auction for four blocks in the Santos and Campos basins comes just a week before presidential polls featuring some candidates seeking to slow oil auctions

    Oil majors are set to gather in Rio de Janeiro this Friday to unveil bids for stakes in Brazil’s high potential offshore areas ahead of elections that are casting a cloud of uncertainty over the industry.

  • Monday, September 24th 2018 - 09:15 UTC

    Petrobras plans to increase output 10% next year to some 2.3 million bpd

    The world’s most indebted oil company is on course to reduce debt to US$ 69 billion by the end of this year, CEO Grisolia pointed out.

    Brazil’s state-run oil giant Petrobras aims to raise output as much as 10% to around 2.3 million barrels per day (bpd) in 2019 and cut net debt by US$10 billion, according to Chief Financial Officer Rafael Grisolia. The world’s most indebted oil company is on course to reduce debt to US$ 69 billion by the end of this year despite falling short of its US$ 21 billion asset sales target, Grisolia pointed out.

  • Tuesday, April 24th 2018 - 08:42 UTC

    Brazil poised for historic oil boom

    A range of analyst and oil company estimates put the breakeven price for pre-salt fields at less than US$ 40 per barrel compared to US$ 45 seven years ago.

    By Mathew Smith<br />
    <br />
    After being caught up in major corruption scandals and suffering from what some have claimed was its worst economic downturn in 100-years, Brazil has pulled itself back from the brink. The economy commenced growing again in 2017 with gross domestic product (GDP) expanding by 1 percent and 2018 GDP growth forecast by the International Monetary Fund (IMF) to be 2.3%.

  • Saturday, February 3rd 2018 - 10:53 UTC

    US markets suffer their steepest decline since June 2016. Dow Jones fell 2.5%

    The losses touched every sector, with the steepest declines in energy and technology stocks.

    The blue chip Dow Jones Industrial Average suffered its steepest decline since June 2016 on Friday, amid wider losses in United States markets. The fall came after a string of disappointing earnings reports from giants such as Apple.

  • Tuesday, January 9th 2018 - 10:08 UTC

    Sixth major oil find offshore Guyana at the Stabroek block

    The well was spud on 5 November 2017 by the Stena Caron drillship and drilled to 6450m depth in 2735m of water.

    For the sixth time Exxon and partners at the Stabroek block offshore Guyana are celebrating another major find in northern South American waters. In effect, Ranger-1 exploration well, the sixth find since discovering Liza in 2015, hit approximately 70m of high-quality, oil-bearing carbonate reservoirs some 60mi northwest of the Liza development.