Every day, the world uses around one hundred million barrels of oil. The term “big oil” is used pejoratively to describe the industry’s lobbying power. But is big always better? This week, we look at both the biggest and the best, and the biggest and the worst of the oil industry. Big finds:...
ExxonMobil
COLUMN | On the edge? McDermott, Petrofac, The Metals Company and Cadeler [Offshore Accounts]
Lady Gaga famously sang that she was “on the edge of glory”. This week, we look at four companies on the edge of….well, something. Let’s check in on two construction companies, a subsea mining venture, and our favourite wind turbine installer. McDermott on the edge Finally, a judge in the UK has...
BP Focuses on Familiar Turf in GoM as Rivals Push New Offshore Oil Frontiers
(Bloomberg) — For a company that made its name with frontier oil discoveries from Iran to Alaska, BP Plc is notably absent from today’s hottest new oil plays. The company’s…
https://gcaptain.com/bp-focuses-on-familiar-turf-in-gom-as-rivals-push-new-offshore-oil-frontiers/
COLUMN | Quick updates: PSVs changing hands; subsea newbuilds; Guyana booming; rigs fixing higher [Offshore Accounts]
Money is being made in offshore once again, but tragically lives are also being lost unnecessarily. Earlier this week, we examined how Perenco’s dysfunctional safety culture in Gabon, leading to six people dead or lost in an explosion. This is a sad backdrop for an industry booming at last. Stop...
Exxon Plays Hardball With Chevron Over Guyana’s Oil Riches
By Kevin Crowley and Rachel Graf (Bloomberg) — It’s rare for disputes between any of the world’s supermajor oil companies to spill out in public. It’s even rarer that one could…
https://gcaptain.com/exxon-plays-hardball-with-chevron-over-guyanas-oil-riches/
COLUMN | Namibia and Nigeria – Plunder on the dancefloor, kicks on the drill floor? [Offshore Accounts]
Oh, to be young today! I know, I know, I know, I know, Sophie Ellis Bextor’s 2001 single “Murder on the Dancefloor” is back topping the charts after it appeared in a post cinematic rip-off of The Talented Mr. Ripley, and David Guetta is filling the dancefloors with his Grammy nominated “Baby Don’t...
ExxonMobil partners with FuelCell Energy for CO2 capture pilot plant
ExxonMobil is set to construct a pilot plant at the Botlek site in Rotterdam, employing cutting-edge carbonate fuel cell technology.
These advanced fuel cells not only possess the capability to capture CO2 emissions from industrial sources before their release into the atmosphere but also have the added benefit of generating valuable by-products.
Furthermore, the innovative technology not only generates low-carbon power, heat, and hydrogen as valuable by-products but also efficiently captures CO2...
https://container-news.com/exxonmobil-partners-with-fuelcell-energy-for-co2-capture-pilot-plant/
ExxonMobil Begins Production at Guyana’s Third Offshore Oil Project
ExxonMobil has announced the start of production at Payara, the third offshore oil development on Guyana’s Stabroek Block, bringing total production capacity off the South American country to approximately 620,000…
https://gcaptain.com/exxonmobil-begins-production-payara-guyana/
ExxonMobil Begins Production at Guyana’s Third Offshore Oil Project
ExxonMobil has announced the start of production at Payara, the third offshore oil development on Guyana’s Stabroek Block, bringing total production capacity off the South American country to approximately 620,000…
https://gcaptain.com/exxonmobil-begins-production-payara-guyana/
Oil Mega-Merger: Chevron to Buy Hess Corp for $53 Billion
By Sabrina Valle and Mrinalika Roy HOUSTON, Oct 23 (Reuters) – Chevron Corp agreed to buy Hess for $53 billion in stock to gain a bigger U.S. oil footprint and a large stake in rival Exxon Mobil Corp’s massive Guyana…
https://gcaptain.com/oil-mega-merger-chevron-to-buy-hess-corp-for-53-billion/