The small South American country of Guyana has reported that its real gross domestic product (GDP) increased by 49.7% for the first half of this year, thanks to increased oil and gas revenues. Continue reading Guyana sees jump in GDP thanks to oil production
In the latest edition of its Global Outlook, US-based oil major ExxonMobil has joined OPEC in warning about potential shortages of oil and gas if investments are not made to develop new oil and gas projects. Continue reading ExxonMobil warns of energy supply shortage
Bloomberg reports that ExxonMobil is looking at divesting about a billion dollars in conventional oil and gas assets located in the Permian Basin of West Texas and New Mexico. Continue reading ExxonMobil to sell conventional Permian assets
US-based oil major has announced that the consortium that it leads has returned oil production in Guyana back to full capacity following pipeline work. Continue reading ExxonMobil says Guyana production back on track
The growth in crude oil production in the US is set to accelerate next year, thanks to improvements in well efficiency. Continue reading BNEF predicts sharper rise in US oil production
The OPEC+ group has very little scope to wind back its production cuts according to Spencer Dale, the chief economist at energy giant BP, which also makes the Castrol metalworking range. Continue reading Chief BP economist states OPEC+ has limited options
According to analysts, the ongoing growth in crude oil production in the US could cause problems for the OPEC+ group. Continue reading Growth in US shale presents problems for OPEC+
Shell plc, through its subsidiary Shell Offshore Inc., has announced that it has made a final investment decision (FID) to proceed with a waterflood project for the Vito field in the US Gulf of Mexico. Continue reading Shell invests in water injection for Vito field
Industry sources and analysts have told Reuters that limited growth in the demand for crude oil may fail to compensate for extra production. Continue reading Global oil demand may not absorb increased OPEC+ production
Oil major BP has made a final investment decision to proceed with an offshore project in the US waters of the Gulf of Mexico. Continue reading BP approves sixth Gulf of Mexico hub
