ExxonMobil has increased its estimates by 25% for the hydrocarbon resources in the Stabroek Block offshore of Guyana after the company made its 10th discovery in the region.
The company, which also Continue reading ExxonMobil hikes Guyana estimates
US oil production surges to new record
Despite concerns over limited takeaway capacity in the prolific Permian Basin, the US Energy Information Administration (EIA) reports that US oil production surged to a new record of 11.475 million barrels per day (bpd) in Continue reading US oil production surges to new record
ExxonMobil to use renewable energy in oil production
Oil giant ExxonMobil has signed a 12-year deal to buy 500 MW of renewable energy generation to power its operations in the Permian Basin of West Texas.
According to Continue reading ExxonMobil to use renewable energy in oil production
How oil gets to the petrol pump
It’s often taken for granted that motorists can stop at a petrol station and fill their tanks, but that fuel has gone through a number of stages before it gets to the pump.
Petrol—just like Continue reading How oil gets to the petrol pump
Bloomberg survey points to production cuts
A new survey conducted by Bloomberg indicates that OPEC is likely to cut oil production at its next meeting on December 6 and 7.
Bloomberg surveyed Continue reading Bloomberg survey points to production cuts
Energy giants bring North Sea megaproject online
The North Sea oil industry is often thought to be in decline, but a joint venture between BP, Shell, Chevron, and ConocoPhillips has just started producing oil.
The Clair Ridge field was Continue reading Energy giants bring North Sea megaproject online
What is oil used for?
More than 80 million barrels per day (bpd) of oil are produced every day around the world. Much of this comes from the big three oil producers – the USA, Russia, and Saudi Arabia – but more than half still comes from Continue reading What is oil used for?
GE wins contract for US’s first wind–solar hybrid
In the United States, GE has won a contract to provide elements of a new wind¬–solar hybrid, the first such commercial project in the country. Continue reading GE wins contract for US’s first wind–solar hybrid
IEA chief calls for “common sense” over oil production cuts
Fatih Birol, Executive Director of the International Energy Agency (IEA), has warned that proposed supply cuts by key oil producers may have negative Continue reading IEA chief calls for “common sense” over oil production cuts
ExxonMobil begins drilling in the waters of Cyprus
According to the Energy Ministry of Cyprus, ExxonMobil and Qatar Petroleum began exploratory drilling within block 10 of Cyprus’s Exclusive Economic Zone (EEZ) on Continue reading ExxonMobil begins drilling in the waters of Cyprus
