Exxon plays hardball with Chevron to hoard Guyana’s oil riches
It’s rare for disputes between any of the world’s supermajor oil companies to spill out in public. It’s even rarer that one could end up costing $53 billion.
It’s rare for disputes between any of the world’s supermajor oil companies to spill out in public. It’s even rarer that one could end up costing $53 billion.
A new report suggests Big Oil continues to link executive pay to increased fossil fuel production, even if this conflicts with energy transition targets and climate policies.
The president has given companies operating in Essequibo three months to withdraw. ExxonMobil's Stabroek block is at least partly within the Essequibo marine territory.
The company said it would carry out work with its FDS2, Constellation and Castorone vessels. It will carry out work from its Port of Georgetown base.
If agreed, the settlement would help to open the way for an expansion of the Kashagan oil development, including construction of new gas-processing plants needed by the government, the people said.
The president went on to invite Exxon to invest in renewable energy and infrastructure, including for the new planned capital, Nusantara.
“Each new project supports economic development and access to resources that will benefit Guyanese communities while also helping to meet the world’s energy demand.”
Exxon Mobil Corp. plans to become one of the biggest suppliers of lithium for electric vehicles, marking the oil giant’s first major foray outside of fossil fuels in decades.
Vice president of exploration Mohd Redhani Abdul Rahman said the success would “drive further exploration for commercially viable hydrocarbon resources in the surrounding areas”.
These low-liquid yield finds trap a “large proportion” of the discovered oil. These resources “will not be able to be developed and monetised unless infrastructure solutions for the evacuation of gas are put in place in tandem with the associated gas that is being recycled today in the current production operations”.
The company said ANOH had faced challenges in the “security situation, poor weather, and contractor performance”.
Equatorial Guinea Vice President Teodoro Nguema Obiang Mangue said state-backed Gepetrol was on the way to increasing its operational capacity.
Lancetfish-2 found around 20 metres of net oil pay in a new interval, the government said.
Conoco is not alone in its pursuit of CrownRock, though.
In addition, the Biden administration has announced plans to award $1 billion to stimulate demand for hydrogen to provide “market certainty” and ensure demand.
The builder said the FEED contract would provide an initial release of funds and would also commit a Fast4Ward hull for Whiptail.
The deal is apt to face tough antitrust scrutiny from the Federal Trade Commission.
Exxon Mobil Corp. is close to a $58 billion deal to buy Pioneer Natural Resources Co., underpinning a bet that oil and gas will remain central to the world’s energy mix for decades no matter what path nations take toward a lower-carbon future.
Exxon Mobil’s head of shale remained in a Texas jail Sunday after he was arrested for sexual assault at a hotel near Houston last week, police said.
Exxon Mobil Corp. is in talks to acquire Pioneer Natural Resources Co., according to a person familiar with the matter, nearing its largest takeover in more than two decades as the energy giant seeks to become the dominant US producer of shale oil.
Revenues at the North Sea operator surged more than four-fold to $3.6bn.
“Africa is now for African banks and the Middle East is for Middle Eastern banks. The North Sea is the exception, where there is still an active international bank lending market, although with a reduced number of players lending.”
The heads of Saudi Aramco and Exxon Mobil took to the stage at a major industry event Monday to voice support for the global transition to cleaner forms of energy, but one in which oil continues to play a major role for decades to come.
"We look forward to continuing a successful partnership with our customer as we work together to safeguard a sustainable energy supply,” Maier said.
“Shifting business models toward greener activities is about more than being virtuous for the sake of the planet,” says BNEF’s Michael Daly. “There’s a huge financial opportunity for companies that help drive the energy transition.”