Australia’s largest independent oil and gas producer, Woodside Petroleum, announced on Wednesday it’s purchasing ExxonMobil’s 50% stake in the Scarborough field, offshore Australia, Kallanish Energy reports.
French supermajor Total announced Monday it has entered the new world oil hotspot, Guyana, with three exploration licences, under purchase agreements with different sellers, Kallanish Energy learns.
Russia’s crude oil production in January was flat compared to December 2017, after rising production at foreign firm-led projects compensated for small declines at major Russian oil producers Rosneft and Lukoil.
One day after saying it would spend $35 billion in the U.S. over five years, citing tax reform as an impetus, ExxonMobil (XOM) said Tuesday $2 billion of that total would be spent in the Permian Basin.
Russia’s Sakhalin-1 oil project, led by ExxonMobil, has ditched plans to raise output by 25% this year after it was ordered by authorities to return to previous production limits, industry sources told Reuters.