Chevron will proceed with its $53 billion acquisition of Hess, after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.Shares of Chevron were up 3.6% in premarket trading…
Exxon Mobil, the United States' biggest oil producer, beat Wall Street estimates for second-quarter profit on Friday as higher oil and gas output and low production costs offset the impact of lower crude prices.Oil and gas production was the…
Trinidad and Tobago's government has agreed to award U.S. oil major ExxonMobil acreage in an ultra-deep area that includes seven blocks to explore for oil and gas, two senior government officials told Reuters.The parties began negotiations earlier…
Chevron beat analyst estimates for second-quarter profit on Friday as record oil and gas production and lower capital expenditure helped the U.S. oil producer boost earnings despite weaker crude prices.The No. 2 U.S. oil major triumphed last month in a legal challenge from Exxon Mobil XOM…
Chevron’s imminent entry into Guyana’s rich offshore oilfields solves one of the biggest problems dogging the U.S. major: where its growth will come from beyond the next few years.On Friday, the U.S. oil producer closed its $55-billion acquisition…
Exxon Mobil and Chevron's recent major acquisitions raise a provocative question: does the U.S. still need two energy titans, or might it be more efficient for the two to join forces?An $800 billion combination would certainly evoke memories of Standard Oil…
A consortium led by Exxon Mobil that controls all oil and gas output in Guyana produced 668,000 barrels per day (bpd) of oil last week, the U.S. company's head for the South American country, Alistair Routledge, said during a conference on Tuesday…
Exxon Mobil has begun negotiations with the Trinidad and Tobago government to explore for oil and gas in up to seven deepwater blocks off the East Coast of the Caribbean country, which the top U.S. oil producer left more than two decades ago…
An oil-producing consortium in Guyana comprising Exxon Mobil, Hess and CNOOC posted a 64% surge in 2024 profit to $10.4 billion, Exxon said on Tuesday, as facility updates allowed sustained output growth.Due to fast production expansion and relatively low government royalties and taxes…
Guyana is looking for a company willing to build a natural gas liquids (NGL) facility as part of efforts to monetize its offshore gas reserves, according to a notice published by the South American government on Sunday.The storage and offloading facility would receive about 4…
The first crude cargo from Guyana's fourth oil production facility, which arrived in the country in April and is being installed, is set to be exported between late August and early September, the government told Reuters on Tuesday.A consortium by U…
The arbitrators in a legal dispute between Exxon Mobil and Hess have reached a decision related to a major oilfield project in Guyana, according to two sources familiar with the matter.The ruling will determine whether Chevron can move forward with its $53 billion planned acquisition of Hess…
Exxon Mobil and Chevron on Tuesday took their first steps toward eventually exploring oil in Brazil's Foz do Amazonas basin, scooping up offshore blocks auctioned by the country in the promising but environmentally-sensitive area.The move marks…
Guyana's parliament passed an oil pollution bill late on Friday that holds parties liable for damages caused by oil spills, including from vessels.The bill, which passed with a majority of votes cast in a simple voice vote, is expected to soon be signed into law by President Irfaan Ali…
MODEC has been awarded a contract by ExxonMobil Guyana to develop an FPSO for the Hammerhead project.The Hammerhead FPSO will have the capacity to produce 150,000 barrels of oil per day (BOPD), along with associated gas and water. It will be moored at a water depth of approximately 1…
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