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Exxon Mobil Could Delay Third Guyana Project Amid Low Prices, Spending Cuts
Payara’s startup had been slated for “as early as 2023” and was expected to eventually produce some 220,000 barrels per day (bbl/d) of crude, according to Exxon’s website.
Where Will the Excess Glut of US Oil Go?
Excess supply has sparked a fresh dilemma among U.S. drillers, which are being asked to cut oil production as storage space fills up.
Wintershall Dea Makes Oil Find in Norwegian Sea
The well hit an oil column of at least 60 meters in the Garn Formation and an oil column of at least 120 meters in the Tilje Formation.