ExxonMobil today said it started production at Guyana’s second offshore oil development on the Stabroek Block, Liza Phase 2. The will bring the total oil production capacity to more than 340,000 barrels per day in only seven years since the country’s first discovery.  Production at the Liza Unity floating, production, storage and offloading (FPSO) vessel is […]

Exxon Mobil Corporation today announced fourth-quarter 2021 earnings of $8.9 billion, or $2.08 per share assuming dilution, resulting in full-year earnings of $23 billion, or $5.39 per share assuming dilution. Capital and exploration expenditures were $5.8 billion in the fourth quarter and $16.6 billion for the full year 2021, in line with guidance. Generates $48 […]

Equinor reports record high adjusted earnings of USD 15.0 billion and USD 4.40 billion after tax in the fourth quarter of 2021. IFRS net operating income was USD 13.6 billion and the IFRS net income was USD 3.37 billion. 2021 was characterised by: Adjusted earnings after tax of USD 10.0 billion for the full year […]

In 2021 LUKOIL Group’s hydrocarbon production excluding the West Qurna-2 project was 2,161 thousand boe per day, which is 4.7% higher year-on-year, while in the fourth quarter of 2021 hydrocarbon production increased by 7.6% quarter-on-quarter. The production growth was attributable to the dynamics of the external limitations on oil production due to the OPEC+ agreement, […]

BP has announced its fourth quarter and full year 2021 results. Reported profit for the quarter was $2.3 billion, compared with a loss of $2.5 billion for the third quarter 2021. Underlying replacement cost profit for the quarter was $4.1 billion, compared with $3.3 billion for the previous quarter. Net debt reduced for seventh quarter […]

ConocoPhillips has reported fourth-quarter 2021 earnings of $2.6 billion, or $1.98 per share, compared with a fourth-quarter 2020 loss of $0.8 billion, or ($0.72) per share. Excluding special items, fourth-quarter 2021 adjusted earnings were $3.0 billion, or $2.27 per share, compared with a fourth-quarter 2020 adjusted loss of $0.2 billion, or ($0.19) per share. Special […]

Tullow and JV Partners have continued to seek a strategic partner for its global projects and constructive discussions progress with interested parties. Tullow exited 11 exploration blocks in 2021, including all of its licences in Suriname and Peru, reorienting its exploration effort towards near-field and infrastructure-led exploration activities to enhance value in core areas. In […]

Minister of Petroleum and Energy, MarteMjøsPersen, will today officially open the Martin Linge field. With good operational performance since the field came on stream in June and high oil and gas prices, the investments in the field are expected to be recovered in full during 2022. “Martin Linge has been a very challenging project to […]

Woodside has completed the sale of a 49% non-operating participating interest in the Pluto Train 2 Joint Venture to Global Infrastructure Partners (GIP). This follows Woodside’s announcement on 15 November 2021 that it had entered into a sale and purchaseagreement with GIP. On 22 November 2021 the Pluto Train 2 Joint Venture announced its final […]

The Oseberg Area Unit partners will reduce CO2 emissions from the Oseberg Field Centre and the Oseberg South platform while increasing Oseberg gas production. An amended plan for development and operation (PDO) has been submitted to the minister of petroleum and energy MarteMjøsPersen. Oseberg will be developed from primarily being an oil field to becoming a […]