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ExxonMobil set to return to site of Australia’s first offshore well

ExxonMobil is set to begin new exploration in the Gippsland Basin off the south-east coast of Australia, where together with its venture partner BHP, the company has extracted more than 8 trillion cubic feet of gas and 4 billion barrels of oil. The two companies drilled their first exploratory well in the province back in 1965.

The Gippsland Basin has been one of the country’s most prolific Continue reading ExxonMobil set to return to site of Australia’s first offshore well

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US set to become world’s top oil exporter

It has already been predicted that the US will soon become the world’s top oil producer, but the country is also the world’s largest consumer of oil. This situation has meant it has generally been a big net importer of crude oil and refined oil products, especially after US oil production began Continue reading US set to become world’s top oil exporter