Like 80% of Guyana’s college graduates, Richard Singh had left the tiny South American nation for better job prospects abroad. Then, in a surprising turn of events, he realized he could make more money back home.
Exxon Mobil Corp. took the first step toward its seventh oil project in Guyana, a clear signal the supermajor intends to expand crude output from the South American nation into the next decade.
The Managing Director, ExxonMobil Nigeria, Shane Harris, has declared that the oil major is not leaving Nigeria as claimed in some quarters, particularly after the oil firm’s proposed divestment of a 100 per cent interest in Mobil Producing Nigeria Unlimited to Seplat Energy Offshore Limited.
The arbitration process to determine whether ExxonMobil can block the $53 billion sale of Hess Corp to Chevron is stalled due to the incomplete appointment of a third arbitrator, according to Reuters.
According to the Guyana Times, ExxonMobil has started appraisal drilling at its Lau-Lau 2 well site in the prolific Stabroek Block offshore Guyana, where it had previously discovered over 300 ft of oil at the Lau-Lau 1 well. The Maritime Administration Department announced that this appraisal, conducted by the drillship MODU Noble Sam Croft, will run from June 16 to July 31, 2024.
The Nigerian National Petroleum Company Limited has applied to a High Court of the Federal Capital Territory, Abuja, to stop its ongoing legal action against several subsidiaries of Mobil Nigeria and the Nigerian Upstream Petroleum Regulatory Commission.
Saudi Arabia’s oil giant Aramco looks caught between a rock and a hard place. It seeks to win over new investors, especially foreign ones, while at the same time – as the world’s top crude oil exporter and the biggest OPEC producer – not allowing oil prices to crash.
ExxonMobil Guyana Limited (EMGL), the operator and one of the coventurers in the prolific Stabroek Block offshore Guyana, netted $614.6 billion in profits at the end of 2023.
The keel of a new floating production storage and offloading unit (FPSO) has been laid at the facilities of Chinese shipbuilder Dalian Shipbuilding Industry Company (DSIC).
On May 23, 2024, SONATRACH and the U.S.-based company ExxonMobil finalized a Memorandum of Understanding at SONATRACH’s General Management headquarters. Present at the signing were Mr. Rachid HACHICHI, President and CEO of SONATRACH, and Mr. John ARDILL, Vice President of Exploration & New Opportunities at ExxonMobil.