Baker Hughes revised down its global upstream spending outlook for the year due to “North American softness” with oil activity recovery in second half unlikely to materialize, President and CEO Lorenzo Simonelli said.
Pemex achieved its long-term debt target, which aimed to gets its financial obligations below the $100 billion, while struggling to halt production declines.
BP and NGC signed a 20-year agreement to develop Venezuela’s Cocuina offshore gas field, part of the Manakin-Cocuina cross border maritime field between Venezuela and Trinidad and Tobago.
Tesla, which announced plans in 2023 to build a $5 billion gigafactory in northern Mexico, is now pausing development activities until after the U.S. presidential election, its CEO Elon Musk said during the EV maker’s second quarter 2024 webcast.
Here's a roundup of the latest E&P headlines, with LLOG acquiring 41 blocks in the Gulf of Mexico and Saipem securing $500 million in contracts from Saudi Aramco.
Mexico’s state-owned Pemex, the world’s most indebted company, is targeting a total debt below the $100 billion mark this summer—the first time in 10 years that the company’s debt would be below that level.
New Fortress Energy’s Fast LNG asset has a production capacity of 1.4 million tonnes per annum.
Exxon Mobil Corp. announced plans for its seventh development offshore Guyana, Hammerhead, which will add 120,000 bbl/d to 180,000 bbl/d of production capacity starting in 2029.
Vista Energy, one of the largest producers in Argentina’s Vaca Muerta shale field, aims to get bigger through Exxon Mobil assets reportedly being shopped for $1 billion.
Italian energy giant Eni SpA announced a discovery at the Yopaat-1 EXP exploration well in the offshore Mexico Block 9 of the Cuenca Salina in the Sureste Basin, which potential up to 400 MMboe in place.