ExxonMobil earns $2.7 billion in first quarter of 2021

U.S. supermajor ExxonMobil booked a quarterly profit due to benefits of higher commodity prices and structural cost reductions. ExxonMobil last Friday posted estimated earnings of $2.7 billion in the first quarter of 2021 compared with a loss of $610 million … Read More

ExxonMobil successful again – more oil found off Guyana

U.S. supermajor ExxonMobil has made another oil discovery offshore Guyana with the Uaru-2 well in the Stabroek Block. ExxonMobil said on Tuesday that Uaru-2 would add to the previously announced gross discovered recoverable resource estimate for the block, which is … Read More

ExxonMobil eyes Houston for $100 billion carbon capture plan

U.S. supermajor ExxonMobil has announced its vision for a massive $100 billion carbon capture and storage (CCS) project which it believes will be critical to meeting Paris Agreement emission-reducing goals. Joe Blommaert, head of ExxonMobil’s Low Carbon Solutions division, said … Read More

Disappointed ExxonMobil forced to curb output on Guyana FPSO

Oil major ExxonMobil has revealed its disappointment with the performance of the Liza Destiny FPSO, operating on the Liza field off Guyana, following technical issues, which forced it to reduce output to a minimum. Offshore Energy has reported on this … Read More

ExxonMobil still testing Liza FPSO after compressor repairs

Oil major ExxonMobil is in the final stages of testing the flash gas compression system on the Liza Destiny FPSO following technical issues and subsequent repairs. As previously reported, ExxonMobil started experiencing technical issues with the gas compressor on the … Read More

ExxonMobil rallying support for board re-election

Oil major ExxonMobil has sent a letter to shareholders urging them to vote using in favour of the company’s 12 director nominees at its 2021 annual meeting of shareholders on 26 May. ExxonMobil said on Tuesday that the company sent … Read More

Keppel wraps up topsides lifting on SBM’s Liza Unity FPSO

Singapore’s Keppel shipyard has reached a major milestone in the construction of the SBM Offshore-owned Liza Unity FPSO with the completion of the topsides lifting campaign. Liza Unity FPSO; Source: SBM Offshore The China-built Fast4Ward FPSO hull arrived in Singapore … Read More

ExxonMobil curbs spending plans, reveals path to lower-carbon future

Oil major ExxonMobil has revealed its capital spending in 2021 will be in the range of $16 billion to $19 billion as well as its plans to focus on developing technologies to reduce emissions, especially carbon capture and storage technology, … Read More

ExxonMobil gearing up to spud wildcat well off Brazil

Oil major ExxonMobil is preparing to drill an exploration well in waters offshore Brazil, using Seadrill’s West Saturn drillship. Petroleo Hoje, a Brazilian publisher specializing in oil and gas news, reported on Monday that ExxonMobil and Seadrill are preparing for … Read More

Exxon to write off up to $20B of assets despite 4Q gains

Oil major ExxonMobil has stated that it would have to write down assets up to $20 billion regardless of higher oil and gas prices and improved chemical margins. Exxon stated in a regulatory filing that higher prices and margins would … Read More