ExxonMobil has announced that it has completed an agreement to purchase half of Statoil’s interest in the BM-S-8 block offshore Brazil, which contains part of the pre-salt Carcara oil field. The Carcara field contains an estimated recoverable resource of 2 billion barrels of high-quality oil. The block is located approximately 200 miles offshore Rio de Janeiro….
The oil giant, Exxon Mobil Corporation, has announced an estimated third quarter 2017 earnings of $4 billion, or $0.93 per diluted share, compared with $2.7 billion a year earlier as commodity prices improved and performance in the Upstream and Downstream strengthened. Impacts related to Hurricane Harvey reduced earnings by an estimated 4 cents per share. According to the…
The Oil and Gas Climate Initiative (OGCI) has announced its first three investments, moving forward the organization’s commitments into concrete action to spur the growth of promising low carbon technologies. Chief Executive Officers from OGCI’s member companies and the CEO of its investment arm, OGCI Climate Investments, are meeting in London to share key outcomes…
By Oke Peter The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru, has charged engineering practitioners in the country to provide viable solutions towards fast-tracking Nigeria’s quest to diversify the economy. Dr. Baru gave the charge while speaking at the 30th Conference and Annual General Meeting of the Nigerian Institution…
By Oke Peter Oil search in the nation’s inland basins received a fresh impetus following the commencement of exploration activities in the Benue Trough by the Nigerian National Petroleum Corporation (NNPC). Group Managing Director of the Corporation, Dr. Maikanti Baru, announced this development during a visit to the Governor of Nasarawa State, Alhaji Umaru Tanko…
