(WO) — Shell Offshore Inc., a subsidiary of Shell plc (Shell), announced has begun oil production at the Shell-operated Vito floating production facility in the U.S. Gulf of Mexico (GoM). With an estimated peak production of 100,000 boed, …
Guyana, one of the world’s hottest frontier oil plays, is expected to have its new oil production sharing agreement (PSA) model ready in time for its auction that runs through mid-April, according to Guyana’s VP.
The oil and …
Fourth-quarter earnings on Wednesday saw Hess Corporation (NYSE:HES) soundly beat Wall Street estimates, with another discovery offshore Guyana playing a significant role in the company’s newly revealed $3.7-billion spending plan for 2023.
In its Q4 2022 financial …
HOUSTON – Exxon Mobil Corp. XOM.N is preparing to approve its fifth oil production project in Guyana and is considering taking additional exploration acreage, the head of its Guyanese operations, Alistair Routledge, told Reuters in an interview.
The …
The Biden Administration is finalizing the next five-year offshore leasing program, which has been delayed by several months already, creating yet another uncertainty for the U.S. oil industry which has had to grapple with numerous mixed messages from …
Demand for offshore rigs for overseas drilling has soared this year even as U.S. oil-rig growth has plateaued. According to Baker Hughes, there are now 622 oil rigs operating in the U.S., down from the 683 in …
Joint venture partners APA Corporation and TotalEnergies have declared the Awari exploration well offshore Suriname “noncommercial” in a rare disappointment for investors in a block that has seen five discoveries since 2020.
TotalEnergies completed drilling the Awari …
The Biden administration has approved plans to build the nation’s largest oil export terminal off the Gulf Coast of Texas, which would add 2 million barrels per day to the U.S. oil export capacity, The Texas Tribune and …
Exxon Mobil Corp will take up to a $2 billion loss on the highly leveraged sale of a troubled California offshore oil and gas field that have been idled since a 2015 pipeline spill
The sale comes …
Guyana’s next oil tender will be conducted under new rules that significantly increase the country’s share of the oil revenue.
This is according to Guyana’s vice president, who said this week that the government will offer 14 …
WASHINGTON – The American Petroleum Institute (API) today submitted comments urging the U.S. Department of the Interior (DOI) to open offshore acreage to safe and environmentally responsible American energy development.
In its comments in response to the 2023-2028 …
By: Larry Busnardo, EnerCom
The natural gas crisis unfolding in Europe appears to be intensifying as Russia has dialed back natural gas supplies to the region. European countries have been scrambling to determine how to meet …
(Bloomberg) — The Biden administration on Wednesday issued oil and natural gas leases to companies that nabbed the Gulf of Mexico drilling rights in a government auction later invalidated by a federal court.
The Interior Department’s Bureau
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Canada’s Atlantic coast.
Surging oil prices are …
By: Larry Busnardo, EnerCom
There is growing concern that the natural gas crisis unfolding across Europe will intensify as the Russia Ukraine conflict enters its seventh month. The situation is being exacerbated by a combination of …
(Bloomberg) — Eni SpA is planning a second liquefied natural gas production vessel offshore Mozambique that could be built in less than four years to help Europe diversify supplies of the fuel, according to a company executive.
The …
Neptune Energy announced the award of a new contract to TechnipFMC for the performance of technical services in Norway.
The Technical Service Agreement (TSA) builds on an existing contract which has been optimized to fit Neptune’s future …
Industry groups reacted to the Department of Interior’s release of its five-year offshore drilling plan that seeks to block new offshore drilling in the Atlantic and Pacific oceans, saying it would be an overall disadvantage to America and …
Shell Australia and its joint venture partner, SGH Energy, have taken a final investment decision to approve the development of the Crux natural gas field, off the coast of Western Australia. Crux will provide further supplies of natural …
(Bloomberg) — Shell Plc won official consent to develop the Jackdaw natural gas field in the UK’s North Sea, eight months after the country’s regulator blocked the project on environmental concerns.
The move marks a change in government …
(Bloomberg) — Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into a profit center.
In the past three years, Shell has …
TotalEnergies has been named a winner by the Bureau of Ocean Energy Management of maritime lease area OCS-A 0545 in the United States, as part of the Carolina Long Bay auction held on Wednesday.
This bid for the …
The Biden administration on Wednesday will hold a wind energy auction for two areas off the coast of North and South Carolina, its second such offering this year.
The sale is part of the government’s broad push to put …
Building an offshore oil company from scratch as a secondary asset owner, by buying producing properties from the majors, is the way we started, said Talos Energy Founder, President and CEO Tim Duncan during a keynote presentation at …
(Bloomberg) — Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast.
“We must …
(Bloomberg) — Murphy Oil Corp. has begun producing oil from a new deepwater Gulf of Mexico project, months ahead of schedule.
The offshore and shale oil producer on Tuesday said its King’s Quay floating production platform started generating …
ExxonMobil has made a final investment decision for the Yellowtail development offshore Guyana after receiving government and regulatory approvals. The company’s fourth, and largest, project in the Stabroek Block is expected to produce approximately 250,000 bpd starting in …
Shell Trinidad and Tobago (through BG International, a subsidiary of Shell plc) announced that production has started on Block 22 and NCMA-4 in the North Coast Marine Area (NCMA) in Trinidad and Tobago.
The start-up of Colibri follows …
(Bloomberg) — The Biden administration doesn’t anticipate selling offshore drilling rights in the Gulf of Mexico through at least October 2023, effectively stretching a delay in that activity to a third year, according to economic projections included in …
(Bloomberg) — Exxon Mobil Corp. drilled a so-called dry hole off the Brazilian coast, a rare setback in the oil titan’s effort to expand its South American crude reserves.
The Cutthroat exploratory well failed to find significant …
